Quantum Blockchain shares rise on patent breakthrough
(ProactiveInvestors) Ryan Hogg recently reported on the rise in Quantum Blockchain Technologies PLC (AIM:QBT)’s shares. IQT-News summarizes.
Hogg wrote,”Quantum Blockchain Technologies were ballooning as it returned strong results from its mining and AI operations.
Shares were up more than 20% in early deals as the group filed a patent application for a new qubit based algorithm for Bitcoin mining.
In combination with the ASIC miner, the technology is expected to increase the hashing speed compared to other ASIC miners announced by competitors.
“We have made impressive progress on all our core R&D areas, and we will now start field testing our optimisations of BTC mining in the next few weeks,” said QBT CEO Francesco Gardin.
“Based on data we have recorded to date, we expect to see a higher performance than originally estimated; this is mainly due to the optimisations which will be included in the second patent application, based on the work of our cryptography expert and the coding techniques implemented by our FPGA/ASIC Design Team.
Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.