Project X

Qubic

Zurich, Switzerland, August 27th, 2024, Chainwire
 
Qubic, a cutting-edge quorum-based distributed ledger technology with an AI platform in development, is proud to announce the launch of "<a href="https://qubic.org/blog-detail/project-x-xccelerating-equilibrium" rel="nofollow noopener" target="_blank">Project X</a>”. This initiative introduces key upgrades and features to support community and long term growth. It will balance emissions, enhance earnings, and empower community driven growth.
A Thriving Ecosystem
Project X aims to create a thriving, sustainable ecosystem for users, developers, community members, and partners. Its new <a href="https://qubic.org/blog-detail/introducing-the-protocol-extension-the-tech-backbone-of-project-x" rel="nofollow noopener" target="_blank">protocol extension</a>, a major upgrade, enables <a href="https://docs.qubic.world/learn/nodes/" rel="nofollow noopener" target="_blank">computors</a> (specialised nodes designed to execute tasks) to allocate a percentage of their weekly rewards (emissions) to initiatives they believe will benefit the ecosystem. Along with the protocol extension, Project X includes a host of initiatives aiming to leverage the power of this new extension:
<ul>
 <li><a href="https://qubic.org/blog-detail/the-new-emission-model-proposal-with-80-supply-cut" rel="nofollow noopener" target="_blank">New Emission Model</a>: Qubic has initiated a 15% reduction in emissions, followed by yearly halvings, targeting a max supply cap of 200 trillion QUBIC (an 80% supply cut). This model balances emissions and burns, crucial for sustainable growth. Additionally, with the previous Fully Diluted Valuation (FDV) at $1.7 billion, the 80% supply cut has reduced the FDV to $340 million, which could make Qubic more accessible and appealing to new investors by potentially improving its market positioning and growth potential.</li>
 <li><a href="https://qubic.org/blog-detail/a-proposal-to-allocate-8-of-weekly-emissions-to-our-community-fund-the-ccf" rel="nofollow noopener" target="_blank">Computor Controlled Fund (CCF)</a>: The treasury for essential activities such as software development, marketing, and community projects. An 8% reallocation of weekly emissions to the CCF is proposed to boost ecosystem growth.</li>
 <li><a href="https://medium.com/@cryptopion33r/qearn-the-path-to-high-yields-and-reduced-qubic-supply-21fecf5d3c32" rel="nofollow noopener" target="_blank">QEarn</a>: A community initiative which offers attractive yields for locking QUBIC, reducing circulating supply and encouraging long-term engagement. It Includes QUBIC reward redistributions and burns as a result of early withdrawals.</li>
</ul>
Project X exemplifies Qubic's commitment to decentralisation, innovation, sustainability and community involvement. It will allow its community to actively contribute to the growth of the ecosystem.
Revolutionising Crypto
<blockquote>
 “Project X is made possible by the decentralisation of Qubic, and is truly groundbreaking,” said Alber Fernandez, Qubic’s Ecosystem Representative for Europe. “It’s the first time we’re seeing the crypto community’s collective intelligence come together to perfectly balance emissions, mining growth, and long-term sustainability. By aligning burns with emissions and encouraging people to hold Qubic, we’re creating a more sustainable and value-driven ecosystem.”
</blockquote>
Looking Ahead
With the introduction of Project X, Qubic is set to revolutionise its ecosystem. The project will include a series of phased rollouts scheduled between now and late September. To learn more about Project X, visit Qubic’s <a href="http://www.qubic.org" rel="nofollow noopener" target="_blank">website</a>, and for information on how to build on Qubic, visit the <a href="https://qubic.org/blog-detail/introducing-the-qubic-grants-program" rel="nofollow noopener" target="_blank">Qubic Grants Page</a>.
About Qubic
Qubic is a Layer 1 ultra-high performance network supported by Useful Proof of Work (uPoW). Its platform supports feeless transactions and features the fastest smart contracts in the world, underpinned by a quorum-based consensus mechanism which allows true finality.
Founded by Sergey Ivancheglo, also known as <a href="https://medium.com/@comefrombeyond" rel="nofollow noopener" target="_blank">Come-from-Beyond</a> and a cofounder of IOTA and NXT, Qubic leverages extensive CPU and GPU resources through AI miners. Its goal is to democratise access to Artificial General Intelligence (AGI), redefining the role of AI in everyday technology.
<a href="http://www.qubic.org" rel="nofollow noopener" target="_blank">Website</a> | <a href="https://discord.com/invite/qubic" rel="nofollow noopener" target="_blank">Discord</a> | <a href="https://twitter.com/_qubic_" rel="nofollow noopener" target="_blank">X</a> | <a href="https://t.me/qubic_network" rel="nofollow noopener" target="_blank">Telegram</a> | <a href="https://github.com/qubic" rel="nofollow noopener" target="_blank">GitHub</a> | <a href="https://www.youtube.com/@_qubic_/videos" rel="nofollow noopener" target="_blank">YouTube</a>
 
 
<h5>Contact</h5>Eric Fung ef@qubic.org 
 
 
Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Qubic Launches ‘Project X’ With 80% Supply Cut to Revolutionise Blockchain (27 Aug)

Chainwire

Other articles published on Aug 27, 2024

Gate Ventures and Abu Dhabi Blockchain Center Launch $100M Web3 Fund

Spot Bitcoin ETFs See 8th Day of Inflows Led by BlackRock’s $224M

Helium Mobile Expands to Puerto Rico, Adds Crypto Payments

Bitcoin exchanges are witnessing 3rd-biggest net daily outflow of 2024

Bitcoin Turns 85,400 Individuals Into Millionaires: 2024 Crypto Wealth Report Reveals Stunning Data

Solana (SOL) Prediction for August 27

Join our free newsletter for daily crypto updates!