Bitcoin mining researchers claim new tech ups winning hash chance by 260%
Quantum Blockchain Technologies (QBT) — a research company based in the United Kingdom — has developed artificial intelligence (AI)-powered algorithms that could significantly increase the mining winning probability of certain ASIC Bitcoin (BTC) miners, its CEO Francesco Gardin said in an interview with Cointelegraph.
Gardin unpacked how QBT has incorporated AI to enable the smart search of winning hashes as an alternative to conventional random searches.
In two years, the company has developed several different patented methods by tapping into the expertise of some twenty experts from quantum computing, machine learning, cryptography, ASIC chip design and algorithm optimization theory.
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QBT’s machine learning teams have developed two different algorithmic search methods, which reportedly improve the performance of ASIC miners by increasing efficiency and winning result probabilities.
“Method A” is said to improve miner efficiency by 10% while “Method B” is set to improve the probability of a miner finding a winning has by 260%.
Gardin said that the company is looking to explore three specific areas, starting with a short-term target of increasing the mining performance of existing commercial ASIC chips by adding a software AI component running on a mining rig.
The team is also designing a new architecture for ASIC mining chips to optimize Bitcoin mining, which it detailed in a recent patent application.
Meanwhile, QBT has a long-term goal of using quantum computers to mine Bitcoin using an in-development SHA-256 computation method that can operate on quantum computing systems.
QBT announced a patent application in July 2023 for
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