XT, the world’s first socially infused trading platform, has announced the listing of QUBIC (Qubic) on its platform in the Main Zone, with the QUBIC/USDT trading pair starting from June 18, 2024. This listing brings significant innovation to the cryptocurrency landscape, introducing a new concept of digital currency valuation and utility.
QUBIC, the native digital asset for Qubic, operates on a layer-1 Quorum-based consensus protocol blockchain with a maximum supply of 1 quadrillion coins. Unlike traditional digital currencies, QUBIC Units (QUs) are used as a measure of computational energy within the Qubic ecosystem. Each QU is essential for executing smart contracts and accessing various services on the platform, transforming the coin from a financial asset to a crucial element of the network's operational framework.
The generation and distribution of QUBIC coins are designed to encourage efficiency and balance within the ecosystem. Every seven-day epoch produces one trillion QUs, primarily allocated to the network's Computors, with the most efficient ones receiving the lion's share. Inefficient Computors have a portion of their rewards burned, ensuring that only the most capable participants sustain their roles. This system incentivizes high performance and maintains a dynamic equilibrium in the network's coin supply.
Transfers within the Qubic network are feeless, a feature that sets it apart from many other platforms. The execution of smart contracts incurs a commission determined by a quorum vote by Computors. These commissions are burned, effectively regulating inflation and deflation within the ecosystem. This burn mechanism reinforces the concept of QUs as 'energy' rather than currency, promoting a balanced and sustainable economic model for the platform.
Albin Warin, CEO of XT, has been instrumental in steering the platform to the forefront of the digital asset marketplace. Warin commented on the listing of Qubic, stating, "The inclusion of QUBIC coins on our exchange marks a significant step forward in our commitment to supporting transformative Web3 projects. Qubic's unique approach to combining distributed ledger technology with AI-driven computation is truly groundbreaking, and we are excited to provide our users access to such a pioneering digital asset."
Qubic, conceived by Sergey Ivancheglo, co-founder of IOTA and NXT, merges distributed ledger technology, smart contracts, and artificial intelligence. Qubic operates with 676 Computors responsible for executing tasks and maintaining the network. The platform's quorum-based computation system ensures reliability by requiring agreement from at least 451 Computors before finalizing any transaction or smart contract execution.
One of Qubic's standout features is its Useful Proof-of-Work (UPoW) system, which repurposes the computational power used in mining for AI training. This dual-purpose approach optimizes energy use and contributes to real-world AI advancements, contrasting sharply with traditional energy-intensive mining processes. Qubic's decentralized architecture ensures robust security and resilience against cyber threats. Its smart contracts automate complex processes, reducing reliance on intermediaries and enhancing transparency.
Moreover, Qubic supports decentralized applications, allowing developers to create and deploy innovative solutions across various industries. This combination of features positions Qubic as a powerful tool for driving blockchain technology adoption and fostering innovation. As Qubic evolves and integrates community feedback, it is set to establish new standards in efficiency, security, and functionality in the crypto space.
