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Patent Application
Patent Application.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n24 July 2023\n \nQuantum Blockchain Technologies Plc\n( “QBT” or “the Company”)\n \nASIC EnhancedBoost – Patent Application\n \nQBT (AIM: QBT) is pleased to announce that its cryptography expert and Cryptographic Optimisation team have developed what the Board believes to be an innovative approach to SHA-256 optimised computation for Bitcoin (“BTC”) mining. The Company believes that this novel approach, called Message Scheduling For Cryptographic Hashing (“MSFCA”), addresses one of the most challenging problems in BTC mining: partial pre-computing of future blockchains’ blocks.\n \nA patent application in respect of MSFCA has been filed at the UK Intellectual Property Office. If the application is successful, the Company intends to apply for the patent to be extended internationally. \n \nSUMMARY\n \n\nMSFCA can perform pre-calculations for future BTC blocks before the current block is closed\nAllows miners to use less logic gates, thus lower energy costs\nImplementation can be made to QBT’s current SHA-256 architecture with feasible modifications\nEffective potential area saving is around 8% \nBACKGROUND\n \nApproximately every ten minutes a block is added to the BTC blockchain. Each new block represents the confirmation of the validity of the encrypted transactions, i.e. transfer of BTCs between senders and receivers, usually between, on average, 2,000 and 3,000. The miner who finds the winning hash for the block within ten minutes, causes the block to be closed and receives the reward; currently 6.25 BTCs, plus the transaction fees. A new block in the following ten minutes can then start to be processed, but only when the previous block has been closed, because the starting information to compute the new blocks, contains information from the previous closed block.\n \nMSFCA\n \nThe computational optimisation obtained by MSFCA allows, under BTC mining special conditions, the miner to asynchronously perform (i.e. not within the temporal boundaries of the current block being computed) partial pre-computations of future blocks, before the ten minute computation ‘time target’ for closing a new block begins. The benefit being that all the logical gates and computation time on the ASIC chip needed for the specific partial pre-computation are saved.\n ...