Business
Update on FPGA and ASIC Development
Update on FPGA and ASIC Development.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \n 5 November 2021\n Quantum Blockchain Technologies Plc\n (“QBT” or “the Company”)\n Update on FPGA and ASIC Development\n The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to announce that its first phase of the FPGA development has now been completed.\n HIGHLIGHTS\n \n \n Disruptive Bitcoin mining technology development is well under way\n \n \n QBT researching multiple routes to faster Bitcoin mining\n \n \n Bitcoin algorithm core architecture for an FPGA chip has been selected and modification completed\n \n \n To keep costs low, initial testing performed on an FPGA chip\n \n \n Architecture design work for ASIC prototype to commence before year end\n \n \n Testing will commence on the final design of the more expensive / faster ASIC prototype chip by end of Q1 2022\n \n \n Ultimate goal is to produce an enhanced 7 nanometers (nm) ASIC chip\n \n \n Early internal calculations show a final chip that could perform 24% quicker than current best available ASIC\n OVERVIEW\n The goal of the Company is to develop disruptive Bitcoin mining technology, to mine both faster and with less overall energy consumption than current practices. A number of advanced technologies are being used by QBT to achieve this goal; namely, quantum computing, AI Neural Networks - Deep Learning, Algebraic-Boolean reductions, Very Big Data, Cryptography and custom chip programming and design - using GPU, FPGA and ASIC chips.\n The current technique used by producers of Bitcoin mining technology on dedicated computers to achieve the fastest performance, is by manufacturing single purpose, customised ASIC chips, which can perform only one wired function, i.e, the computation of the double hashing; the SHA26 cryptographic algorithm used to extract Bitcoins. The simple reality is that the faster the algorithms are computed and the more ASIC chips deployed, the more chances a miner has to extract Bitcoins.\n Before manufacturing an ASIC chip, which is an expensive operation, there are usually two initial steps; firstly, to develop the logic gates architecture which will be used by the final ASIC chip – this is performed on a cheaper but slower chip, called an FPGA, which already contains some pre-defined functions - and secondly, by customising the design to take advantage of the greater freedom offered by ASIC technology, init...