Final RNS - Deep Learning and D wave progression 3-3 ;)18 Aug 2021 11:57
Final piece of RNS (3 parts...) due to size.
Deep Learning optimisation of BTC Mining Algo:
At the beginning of August 2021, the first Deep-Learning optimisation of the
Bitcoin mining algorithm was autonomously generated by one of QBT's AI systems.
This optimisation is identical to one of the phase-one optimisations created by
the expert, but generated independently. This early result strongly supports
the strategy adopted by the Company to invest in the heavy use of Deep
Learning.
D-wave Quantum + QBT Quantum Team - In Progress
Work on the D-Wave quantum computer has begun by QBT's quantum team. While an
implementation of the core Bitcoin mining algorithm has already been developed,
programming of this quantum processor requires a totally different approach to
traditional software design. This is due to the specific approach to quantum
computing of D-Wave's quantum processor, namely, quantum annealing. However,
the efforts represented by the very steep initial learning curve, will
hopefully, be rewarded by the significantly improved performance expected to be
delivered by D-Wave's quantum processor.
“Updates on progress achieved will be released in due course”
Francesco Gardin, CEO and Executive Chairman of QBT, commented, "Assembling a
new team and taking this project to operational status within four months has
been a difficult challenge and has required a tremendous effort. However,
thanks to our exceptional team, we have been able to achieve this.
"Over the past few months we have resisted the temptation to mine for
cryptocurrencies using 'standard' methods as it is not part of our current
strategy. QBT is looking to be a highly disruptive influence in the circa £75
billion* market of approximately 2.21m Bitcoins yet to be mined and we believe
that the past few months of intensive R&D will be crucial to achieving this.
Our strategy for Bitcoin mining is knowledge intensive, rather than capital
intensive, based on the unique, combined interaction between our human experts
and our innovative AI systems.
"Our roadmap is clearly defined and we will pursue it with determination."
* at the current market price of US$46,400 per Bitcoin
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