In early May we reported on the latest sensation arising from the internet of things (IoT) blockchain, IOTA (MIOTA), the Qubic Protocol. The much awaited platform has now released its roadmap signaling a new age in the IOTA ecosystem. The protocol offers its users with a specific solution to quorum based computations (QBC) on the IOTA blockchain. The huge development is positive news to the whole cryptocurrency field as it opens up blockchain technology to explore the endless possibilities involving big data, IoT and decentralized super computers on Qubic Protocol.
The relationship between Qubic and IOTA has caused an increased interest in the internet of things blockchain as well as Qubic protocol. Two of the most advanced technological innovations in the field of big data and quantum computing have come together to much delight of the stakeholders.
“A qubic is a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics – while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic.”
The video released during the announcement showed the power of quantum computing in providing solutions to the real world problems. Currently, the IOTA Tangle is a blockchain based platform that allows its users (things) to interact and communicate instantly through the IoT. Qubic will play an important role in impacting the IOTA platform in the long term according to the roadmap released on the Qubic official website.
“Specifically, Qubic is a protocol that specifies IOTA’s solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.”
The use of oracles on the system however poses a problem as to the credibility of the information gathered. The oracles used to provide data to the decentralized computer to work on solutions need to be flawless in order for this to work. The system is molded to solve critical issues that need instant and accurate results such as real time temperatures, election results, personal identification attributes, forex and securities future prediction.
IOTA (MIOTA) Tangle network does benefit from the quantum computing based protocol, Qubic. With the right development motives and skills from the company towards Qubic will help the project revolutionize the blockchain world. The magic touch is mutual on both projects however with Qubic also hugely benefiting from IOTA’s internet of things. The list below offers a clear view on how IOTA is beneficial to the Qubic protocol. IOTA provides;
- A way to safely communicate with the outside world in a trusted environment;
- A powerful, distributed fog computing platform for building complex IoT applications;
- A new type of smart contract, which collects micro-payments in real time as it runs;
- A reward system for incentivizing honest participation in the Tangle