TL;DR
- Quantum Blockchain Technologies is eyeing a busy 2022 as it focuses on a proprietary crypto mining technology that it developed
- In the near future, Quantum Blockchain Technologies will be able to mine Bitcoin faster and more cost-effectively than anyone else on the planet
Company information
The quantum Blockchain Technologies company has initiated an aggressive R&D and investment program in the dynamic world of Blockchain Technology, including cryptocurrency mining applications and other advanced blockchain solutions.
Quantum's R&D focus will be on Cryptography; bringing together the most advanced implementation techniques and functions, in addition to quantum computing technologies and artificial intelligence deep learning, to create a disruptive approach to blockchain technology.
What is the status of the project?
A recent announcement from Quantum Blockchain Technologies, Inc. indicates the company will put its focus on developing its 5nm Application-Specific Integrated Circuit (ASIC) as a tool for mining Bitcoins as a proprietary tool.
According to the company, the 5nm ASIC is more efficient, and thus more suitable over a 7nm ASIC, as well as a previous prototype built on a 12nm platform. In addition, the proprietary kit is expected to be at least twice as fast as the current leading international Bitcoin miner manufacturer, according to the press release.
Furthermore, it follows a recent market announcement by one of the leading international Bitcoin mining equipment manufacturers that it will be using 5nm ASICs for its next generation of Bitcoin miners due for release by the second half of 2022.
According to Francesco Gardin, president of QBT, access to the 5nm technology for our ASIC Bitcoin mining chip was a natural choice, following careful consideration, for QBT in 2022.
A recent update from Quantum Blockchain Technologies outlined ongoing legal proceedings initiated by Sipiem, which was later acquired by Clear Leisure, against Sipiem's former board and internal audit committee.
A hearing was held before the Venice Court on 10 November, during which it was confirmed that the case was in fact restarted and a report by an independent expert appointed by the court was discussed.
In an important step in their quest to find faster and more energy-efficient ways to mine cryptocurrency, Quantum Blockchain Technologies announced the first phase of its FPGA (field-programmable gate array) development has been completed.
The company is now moving on to the development of its ASIC (Application Specific Integrated Circuit) prototypes.
How management views the situation
It is expected that the proprietary kit will be at least twice as fast as the leading international Bitcoin mining kit currently on the market.
A leading international Bitcoin mining equipment manufacturer has also recently made an announcement regarding its future next-generation of bitcoin miners, due in the second half of 2022, which will use ASICs produced on the 5nm node.