RE: RNS30 Sep 2021 08:32
30 September 2021
Quantum Blockchain Technologies Plc
("QBT" or "the Company")
ASIC UltraBoost:
Filing of the Company's first breakthrough patent application on Bitcoin mining
algorithm optimisation
The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to inform
shareholders that, as an initial result of its new research and development ("R
&D") strategy in respect of disruptive proprietary techniques for Bitcoin
mining, the Company, following the outstanding research work of its
cryptography expert, has filed an application for its first patent- the ASIC
UltraBoost.
The application made to the UK patent office (then to be extended
internationally while maintaining the priority date, set via the UK
application) represents a major breakthrough in Bitcoin mining, as a result of
a very material optimisation of the mining algorithm.
The ASIC UltraBoost can be described as an improvement of the Bitcoin mining
process (building on all other existing optimisations in the market, including
ASIC Boost) eliminating redundant computation of a key part the Bitcoin mining
algorithm, resulting in a faster and more efficient mining process.
The optimisation starts from the initial consideration that currently, Bitcoin
miners attempt to find the winning hash acceptable to the Bitcoin Network by
calculating multiple midstates (by rolling the Version), passing them through
further hashing (by rolling the Nonce) to obtain a final hash value that is
less than or equal to the Target.
ASIC UltraBoost looks to improve the algorithmic efficiency of Bitcoin mining
by proposing 3 specific variants to the SHA256 message scheduler for the 3
instances of SHA256 in Bitcoin mining. These Optimal SHA256 Message Schedule
Variants result in faster and more efficient Bitcoin mining by eliminating the
redundant computations within the SHA256 message schedule specific to Bitcoin
mining.
As such, the calculation of the midstates alongside the calculation of the
message digest is significantly optimised.
ASIC UltraBoost reduces the Message Schedule calculations for the 3 iterations
of SHA256 by approximately 20%.
The SHA256 function being a combination of the message schedule and the
compression function, when considering the optimisations of ASIC UltraBoost for
the entire SHA256 function, the number of operations across the 3 iterations of
SHA256 are reduced by approximately 7%.
More accurate results, including an overall percentage improvement will be
available when ASIC UltraBoost is implemented in hardware.
The Company, following the research programme of the cryptography expert, and
other members of QBT's R&D team, is working on other findings that are expected
to be patentable in the coming months.
Francesco Gardin, CEO and Chairman commented: "Filing the ASIC UltraBoost
patent applicat
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