What the F*** is Qubic? - Untangling the Main Concepts
Recently, the IOTA Foundation shed some more light on the Mysterious Qubic project. Unfortunately, a lot of people had a tough time understanding many of the details involved.
In this video, I try to help people make sense of many of the details that were shared.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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After listening to you throughly at least three times 😆 (very important to me to understand a bit since I’m invested in IOTA) if I understand it well quorum-based computation can be compared to minimum votes requirement by board members to validate the specific task which might sound and be quiet similar to EOS system. Except, there are voters, us EOS holders. In EOS, there is actually required 15% minimum of votes in order to kick off. It’s still a bit confusing and excuse me if I’m wrong. Also when you mentioned multiple use of Oracles to avoid any mistakes (I could compare it to Supreme Court with multiple judges where majority have to agree) which I’m really happy about especially about validating the correctness of the specific data and getting rid of any “cheaters”. Then Smart contracts/Qubic which would eventually be much more advanced than smart contracts on euthereum protocol infrastructure. In my previous comment I wasn’t clear about Qubic as a separate currency that runs on top of IOTA. When I think about it it’s more like smart contracts initiating through Qubic being paid out in IOTA. This leads me to conclusion that Qubic is not a new token or coin at all, there is no Qubic ICO and will not be. That I’m clear about. Qubic actually improves IOTA as it is. At the end it may lead to zero fee transactions at much higher volume thanks to Tangle and Qubic😴. However, this to become fully functional can possibly take months if not years. I guess we need to be patient.
Haha! It definitely takes a while to get your head around 😅
Man thanks for the detailed explanation and taking out the time for going into the details of the technology - much appreciated!
After watching it the first time , I re-watched parts of it multiple times. I think I understand it a little better now and it has made me reach an important decision. I am going to keep my IOTA for now.
I watched the progress of the coin in 2017 when people were predicting that it would go huge. I bought some then and thankfully, after a couple of weeks it really did go huge. At that time I sold some and was thinking of selling the rest now and buy a couple of coins that I had my eye on. After reading more about the Qubic (quorum protocol and such........) I feel that I would wait out a little more (for a period of 9-12 months).
It is a special opportunity to register in the course because the price has become low
You are a successful person, my friend, and I trust you very much
I hope to register in the course and I will try very hard
I’ve been an IOTA holder for quite a while now and bought in at a terrible time.
I’ve suspected that we’d start hearing news of the Tangle again in time so it’s nice to see IOTA getting back into the media again and some reasonable price movements as a result.
I have high hopes for IOTA. Their technology has amazing potential. It will be such a relief to finally hear what the mysterious Q is exactly.
lovely video @louisthomas
resteem
thank you for helping us who are still unstable in the Mysterious Qubic project
I have tried to understand this before but I have not been able to understand, really your word, if people new to Qubic project they will be difficult to find information in it.
Thanks @louisthomas
To be it looks weird, I'm just trying to picture what it does mean.
Good idea brother, I always love your view and opinions on any given crypto currency and issue related to it. Ride on
very good explained @louisthomas
Qubic is a protocol that specifies IOTA’s solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle.
Very good information. I did not really understand the entire crypto jargon, but from the lil bit i understand, qubit looks like it will moon. Although I did not invest in IOTA.