Qubic introduces new innovation: XMR mining

Already introduced a few weeks back, but now it really starts rolling, Qubic started with so-called "custom mining".

Qubic's custom mining serves as a Proof-of-Concept (PoC), demonstrating the network's capacity to utilize the distributed computational power of its "Computors" for executing complex, real-time tasks. All messages for XMR mining are broadcasted via Qubic network.

What does this mean in practice: 50% of Qubic computation power will be used for AI training (neural networks), 50% for other things. These "other things" can be anything in the future that gives most revenue. Like selling to companies, doing scientific calculations, or like now, mining other crypto projects.

The interesting thing is you can also join with your idle hardware. Because not ASICS rule the game here, but "regular" CPUs and GPUs. Qubic's mining algorithm can change any time so creating ASICs make no sense. The end goal is maximizing profit for miners, and with that, attracting as much as possible computation power to the Qubic network.

The live stats can be followed on: https://xmr-stats.qubic.org/ and https://qubicxmr.onrender.com/. They already mined 47 XMR blocks (at the time of writing) and Tari with merged mining. The peak hashrate was over 200MH/s.

The expectation is that the hashrate will double coming weeks. For now, the revenue will be used to market buy Qubic's and burn them. So mining Qu's will become even more attractive.

What do we think of this approach? I think it's the first time a crypto project pulls this off. This might become big if more and more regular miners join and we can mine any project of choice.