Project "Q", which has been secretly edited by IOTA for a long time, has published new information about its exact future plan. The focus is on highly complex arithmetic operations and the introduction of smart contracts.
For months, myths and rumors about the project Q, that was officially announced at the end of April with a countdown and the launch of the site https://qubic.iota.org/intr o. Last night, time was up and new information was revealed.
https://twitter.com/iotatoken/status/1003305957932269568
Qubic is a special protocol that will allow IOTA to perform various quorum-based operations . These include, for example, functions of Oracle machines, complex computation steps and the execution of smart contracts. The long-term goal is to develop a world-class computer that uses unused computing power for the operations already described while securing the tangle.
Among other things, Qubic uses Oracle machines to collect complex data from external sources and to analyze and prepare it for predefined targets. These include, for example:
- Temperature data from real sensors
- Current or historical file values
- Personal characteristics such as the current alater, marital status etc.
Furthermore, it should be possible, as is already the case with Ethereum , to implement Smart Contracts. This allows two or more parties to enter into a contract that is monitored, confirmed and executed (further details are not yet known).
An important feature of Qubic should also be that unused computing power is collected over a decentralized network and the resulting power for external calculations should be made available. In this case, people who do not have strong hardware can place an order that the powerful decentralized platform executes and in the end only the result is output to the person.
There is currently no exact time horizon for when the project actually starts. The IOTA Foundation has been working on its development for some time, but it keeps you covered with more information. To prevent further speculation, the IOTA has announced that there will be no new token or crypto worm and Airdrop. This information was often part of international heated discussions.
The price of IOTA is meanwhile unimpressed and had to accept within the last 24 hours a reset of -6.52 percent . At the time of writing, the price stands at 1.53 euros and a market capitalization of 4.2 billion euros, making it 9th among the largest crypto currencies.
