Quantum Blockchain Technologies (AIM:QBT), an AIM-listed investment company focused on blockchain research and development, has developed a new variant of its Method B Bitcoin mining approach that dispenses with the learning phase typically used to guide mining strategy on application-specific integrated circuit (ASIC) chips.
The variant applies chaos mathematics to analyse outputs from the SHA-256 algorithm, the cryptographic core of Bitcoin's proof-of-work mechanism, identifying stable patterns within what is designed to be a uniformly distributed hash sequence.
Six months of modelling, the company said, revealed hidden structures within the SHA-256 computation process, allowing the team to pinpoint blocks of inputs that produce a higher density of winning hashes.
Offline tests across a large number of SHA-256 header computations showed a stable and durable performance lift, which QBT's board believes could make the approach a viable Bitcoin mining tool.
Live testing has begun on a Bitaxe Gamma miner using a Bitmain BM1370 ASIC chip, with a successful outcome expected to trigger further testing on an ASIC manufacturer's Mining Development Kit hashboard.
"The incredible scientific creativity of our R&D team has once more demonstrated the quality of results which are produced on one of the toughest cryptographic matters," said CEO and Executive Chairman Francesco Gardin.
QBT is conducting live testing in parallel on its Method C AI Oracle, following a separate announcement on 8 July.
