On June 3, the IOTA foundation finally released details regarding its highly anticipated project, Qubic. The community already received a teaser and was hyped up by the IOTA founders, with the team calling the project their most significant milestone yet and indicating that the Qubic project will be IOTA’s main focus for the next 2 years.
Qubic gives several more dimensions to the already futuristic IoT-oriented platform by allowing the construction of oracle machines, outsourced computations, and smart contracts on IOTA’s Tangle network. These will allow for myriad new applications in the IOTA ecosystem.
In this article, we discover why Qubic is a big deal for the IOTA ecosystem.
What Exactly is Qubic?
The name Qubic comes from the initially-given acronym QBC, which stands for quorum-based computations. This kind of computation is used in distributed computing systems—which blockchains and IOTA’s Tangle are—and is a technique used to gain consistent, fast computations in…