Qubic Launches Project X to Revolutionize Distributed Ledger Technology
Introduction to Project X
Qubic, a leader in distributed ledger technology, has launched "Project X," an initiative designed to foster community and long-term growth through innovative upgrades. This project is set to balance emissions, enhance earnings, and empower community-driven development, forming a sustainable ecosystem for users, developers, and partners.
Sustainable Ecosystem Development
Central to Project X is a protocol extension that empowers specialized nodes, known as computors, to allocate a portion of their weekly rewards to ecosystem-beneficial initiatives. The initiative's primary goal is to leverage these extensions to create a thriving ecosystem.
New Emission Model
A significant component of Project X is the introduction of a new emission model. Qubic has initiated a 15% reduction in emissions, with yearly halvings aimed at a maximum supply cap of 200 trillion QUBIC. This strategic reduction is intended to balance emissions and burns, thereby supporting sustainable growth. The reduction has also decreased the Fully Diluted Valuation (FDV) from $1.7 billion to $340 million, potentially improving market positioning.
Computor Controlled Fund (CCF)
Project X also proposes an 8% reallocation of weekly emissions to the Computor Controlled Fund (CCF). This fund will support essential activities such as software development, marketing, and community projects, further driving ecosystem growth.
QEarn Initiative
QEarn, another feature of Project X, offers attractive yields for locking QUBIC tokens. This initiative aims to reduce the circulating supply and promote long-term engagement by redistributing QUBIC rewards and implementing token burns on early withdrawals.
Commitment to Decentralization and Innovation
Project X underscores Qubic's dedication to decentralization, innovation, and sustainability. By allowing the community to contribute actively, Qubic aims to create a more value-driven ecosystem that balances emissions with mining growth.
Future Outlook
With phased rollouts planned until late September, Project X is set to transform Qubic's ecosystem. This initiative marks a significant step in Qubic's mission to democratize access to Artificial General Intelligence (AGI) and redefine the role of AI in technology.
About Qubic
Qubic operates as a Layer 1 ultra-high performance network supported by Useful Proof of Work (uPoW). Known for its feeless transactions and rapid smart contracts, Qubic leverages a quorum-based consensus mechanism for true finality, founded by Sergey Ivancheglo, a prominent figure in the blockchain industry.
For more information, visit Qubic's official website and explore opportunities on the Qubic Grants Page.
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