A very good blog post by Limo as an interpretation of Qubic: As promised by the foundation, yesterday was the day the world received access to Qubic details and specifications. Though, they didn’t promise that everyone would be able to understand the scope of Qubic right from the beginning. Considering how many people reacted negatively just a few minutes after the announcement, I’m convinced the majority of investors in the crypto-sphere need time to digest this revolutionary undertaking. If you needed 2 weeks to fully understand what IOTA means for the world, you probably need another 3 weeks to fully grasp what Q can be on top of all of this.
Qubic is massive, the essence of disruptive and able to force industries to adjust to the needs of IOTA because it’s in their best interest. Therefore, I don’t expect it to be ready before 2019 considering that Qubic probably inherits the functionalities of several other crypto-projects combined, while it’s running as a layer on IOTA. The comparison to other crypto-projects, the due diligence and speculative consequences are solely up to the reader, so please don’t take my interpretation as investment advice.
Anyway, the most important innovations which will change the technological landscape forever were almost hidden among the rest of the explanations. And as revolutionary as they are they have absolutely nothing in common with the every day crypto terms. The mentioned specifics lay in the field of electrical engineering and semiconductor-technology, we come to that in point 1.
Luckily, I already found some great “overall explanations” about Qubic and of course, it makes no sense to write another one. You can find a very good one here: What is Q? by James JD Sutton
At this point, with 10 minutes of your time, you should be able to understand it more or less. Since I personally prefer complicated information in a context I already know and understand, I wrote this list of 5 bullet points and what this innovation means in detail. Please keep in mind that the following list is my personal interpretation, no citeable information. Also, these are just the points I find most important about Qubic, but there are certainly more functions.
Efficiency, Moore’s law, CFB’s law
The IOTA Qubic team created a programming language in order to implement Qubic everywhere in the world: Abra.
“Abra is trinary-based because trinary systems can provide significant energy savings, a crucial consideration for IoT devices. One trinary digit, a trit, can represent 1.58 bits. The amount of wiring necessary for a trinary system can, therefore, be reduced to about 64% of an equivalent binary system, resulting in a corresponding energy reduction.” source: https://qubic.iota.org
It finally makes sense that IOTA is building JINN ternary processors. Come-from-Beyond managed to find a way to use binary NAND gates with trinary logic. This is certainly not the every day crypto-news and you should pin this onto your wall. As an approved electrician who studied both, electronics and geography, I can tell you that even 10% energy reduction would be a revolution for the industry. But we are talking about a gigantic, unimaginable number of 64%. If you had doubts that IOTA could run in the IoT, this is the number one reason you should be happy instead.
Of course, it remains to be seen if they can deliver but I’m convinced they can.
To draw my personal conclusion:
If Come-from-Beyond and the engineers of the IOTA Foundation manage to reduce the energy reduction of logical gates and wiring of 64%, they presumably bring the industry into the next evolutionary step in hindsight of Moore’s Law.
One of the biggest problems in the semiconductor industry is to reduce the energy consumption. Transistors can be designed smaller and more efficient the less energy they consume. Then more transistors (which usually means more calculations) can be built in one CPU. This development used to follow Moore’s law, until recently. CFB changed this law. This means less wiring, less electricity, less heat, less power, but the same output because of Abra, the trinary logic and JINN. Moore’s Law would no longer be the relevant indicator for transistor-progress.
The incentive to support IOTA, meaningful mining
“There is no incentive to set up a full node in IOTA, spamming is even more senseless!”
Although this is wrong anyway, with Qubic, these times are certainly over.
What would be the best way to create a high hash rate in the Tangle?
-To win over the miners? Nope. Some crypto miners, for example, are not exactly the party that likes to support IOTA. Even with better incentives, the ideology would make it almost impossible, in too many cases I assume.
What if Abra, trinary logic and JINN create a landscape where all devices in the IoT are used for increasing the hashrate, in times when they are not used. I have 6 devices in my house that could be used for low level “mining” (ie validating transactions with pow – there is no mining in IOTA). If software would sell just 10% of the computational power of my four devices (which would be 64% more efficient then today) then I could constantly earn money with low efforts -and secure the tangle. Since we are in the era of electrical self-sufficiency, the power for that would be collected on my roof. No running costs would be generated. On the contrary! Of course, the more the merrier, meaning that I expect many people switching over to IOTA as the traditional mining misses one important incentive: meaning.
Mining these days is nothing else than a trade of electricity for money. In the future, this incentive should be regulated as it implies the possibility to waste energy we shouldn’t waste, coal power for example. With IOTA and distributed computational power, however, people can set up Qubics and rewards. Example: I need to correlate two big data frames for a science project which would take four days with my laptop: I set up a reward of x IOTA and let miners solve the task if the quorum is reached. The network gains hashrate, I receive the results and the miners are paid x IOTA. Everything is done via smart contracts, Qubics and external computational power. A meaningful task.
This is way ahead of all incentives we have in the crypto-sphere so far. Additionally: these incentives can also be bound to other services than mining. Full-nodes, public light-node provision, bandwidth, hard-disk storage, RAM, performing automated snapshots, etc. As a result, the network achieves true distribution and decentralization.
The road to true distribution and decentralization
In a network, where countless tasks are assigned, executed, transactions are conducted, validated on millions on computers and almost all industries, the network activity will grow to a four digits number of TPS and higher right after the release of Qubic. IOTA has the data marketplace, important features for data integrity, a great incentive to provide computational power and a market that demands solutions. An open source network that offers all solutions and costs nothing to shift value or data is the one perfect layer the industry is waiting for. Since the industry needs software solutions that IOTA is offering, it’s just a matter of time that it begins to rely on it. Presumably, this results in more transactions per second and ultimately a distributed system that is tamper-proof without the coordinator. Qubic is the missing piece of the puzzle to get rid of the coordinator. As mentioned in point 1, Qubic, Abra and the improvements will be so efficient that all problems that have been articulated by critics are suddenly gone. The IoT will be feasible, IOTA will be secure, distributed, 100% permissionless and tamper-proof.
Interconnectedness of markets
We know that different connectivities are a problem when industries need to send information between different devices such as apple and android. Therefore data and connection standards have been created in order to resolve these barriers. But in the IoT are also other barriers. Markets, currencies, assets. The financial world is not a homogenous field where trading assets and the connections in between are easily drawn. This can become a problem because some assets are important and affect almost every industry, but while the effects on the company and price are clear, the options to react accordingly are not, which means that companies could suffer before they could react. Qubic connects all world-markets with the Tangle. This way they create a landscape where trading, markets, services and prices become a global liquid construct that knows no boundaries in terms of functionalities. Example: Your company depends on lumber and oil prices. With Qubic, you can set up a smart contract, that is bound to external prices (via Oracles) in order to adjust the prices of your services which are changed automatically, depending on how expensive your expenses are (for lumber and oil). In the end, the company can ensure that always the best prices for services and goods are offered. They can calculate more efficiently and most importantly, everything works automatically. This mechanism can be brought into every industry, it can change expensive processes, reduce bureaucracy, improve efficiency and disrupt industries to a point where we can speak of an additional industrial revolution.
Sharing economy powered by electrical and monetary self-sufficiency
Let’s try to draw a picture of how we live in the 25 years from now. I tried that with my series “Life in the future” part 1 (local economy) and part 2 (mobility) Now, especially in these cases, I emphasize on the ability to gain self sufficiency in terms of finances and electricity, food, water. In a society where sustainable resources are used, independence and the quality of life can be improved vastly. Qubic based systems can improve my idea of the life in the future even further because as part of the sharing economy, people can, next to producing electricity, produce clean water, offer mobility services, 3d printing services, and most importantly finance their life entirely. Everything they need for that could be powered by IOTA. For free. Sending microtransactions, secure data, sell electricity, sell comp. power, adjust your service-prices to external sources, monitor crops, buildings and systems with sensors, sell the sensor data and raise the productivity. The future is efficient, autonomous and self-sufficient. Qubic seems to be the missing piece of the puzzle. I’m looking forward to seeing it in action.