Reviewing the resource test options for Qubic

The full article was originally published by HelloIOTA. Read the full article here.

The IOTA Qubic team have been reviewing the options for resource tests within the Qubic Protocol.

This part of the project develops Tangle based Quorum-Based Computations, establishing a platform which is global and decentralised and enables new economic models, Industry 4.0 and Web 3.0.

In basic terms, the Qubic Protocol is a means for using distributed machines to run a computer program, such as for executing smart contract type transactions. These transactions do not require centralised trust, with consensus being reached from the machines within the quorum. The Protocol contains two stages, the resource test phase and the Qubic processing phase, with the total of these stages being referred to as an epoch.

The resource test phase involves allocating to each machine within the ‘assembly’ the proportions of rewards that they will receive once the task or transaction is complete. There are a number of ways in which these allocations can take place, and it is these options that are being reviewed.

Proof of Work (PoW) is a simple method and involves the machines carrying out a test, such as completing puzzles within a set amount of time. The output of the test drives the allocation. However, PoW itself has no productive output and is costly and time-consuming to run.

Read the full Article

The full article was originally published by HelloIOTA, where people are continuing the conversation by highlighting and responding to this story.

Get real time updates directly on you device, subscribe now.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Trade IOTA with a free

$100,000 practice account

Cryptoassets are volatile instruments which can fluctuate widely in a very short time frame and, therefore, are not appropriate for all investors. Trading cryptoassets is unregulated and, therefore, is not supervised by any EU regulatory framework. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.