Quantum Blockchain Technologies PLC (AIM:QBT)’s latest research and development update underscored a number of highlights for the blockchain technology company, including:
- Preliminary results of Machine Learning Method “B” indicating a 30% improvement over commercially available ASIC chip-based bitcoin miners
- Regularities identified within the SHA-256 mining algorithm marking progress towards a potential patent filing, and
- Investigating the potential of third-party licensing strategy to exploit early revenues
The first results obtained by two of Quantum’s three machine learning groups relate to a prototype proprietary software accelerator for bitcoin mining, which is now in a position to undergo intensive testing.
During the last few months, the AIM-quoted company’s IT R&D platform has been improved, reaching nearly 100,000 GPU cores.
Chief executive and chairman Francesco Gardin commented: “We are engaged in an extremely demanding R&D effort to deliver competitive results. The amount of information processed to achieve these goals is huge, searching and analysing regularities in data spaces of large orders of magnitude.
“Verification testing on hypotheses of discovered regularities is extremely demanding, hence the disparity of the timing of results confirmation between a discovery and its confirmation.
"I am therefore very pleased that despite the long verification time this approach is taking, such regularities and correlations have been identified.”