(MENAFN- GlobeNewsWire - Nasdaq) Singapore , June 20, 2024 (GLOBE NEWSWIRE) -- XT, the world's first socially infused trading platform, is thrilled to announce the listing of QUBIC (Qubic) on its platform in the Main Zone and the QUBIC /USDT trading pair started from 09:00 on 2024-06-18 (UTC).
About QUBIC
QUBIC is the native digital asset for Qubic, layer-1 Quorum-based consensus protocol blockchain with a max supply of 1 quadrillion coins.
The QUBIC coin, also known by its ticker QUBIC, represents a significant innovation in the cryptocurrency landscape. Unlike traditional digital currencies, QUBIC Units, also known as QUs, serve as a measure of computational energy within the Qubic ecosystem, fundamentally altering the concept of value and utility in the crypto space. Each QU is essential for executing smart contracts and accessing various services on the Qubic platform. This unique approach transforms the coin from a mere financial asset into a crucial element of the network's operational framework.
The generation and distribution of QUBIC coins are meticulously designed to encourage efficiency and balance within the ecosystem. Every epoch, lasting seven days, produces one trillion QUs. These units are primarily allocated to the network's Computors, with the most efficient ones receiving the lion's share. Inefficient Computors have a portion of their rewards burned, ensuring that only the most capable participants sustain their roles. This system not only incentivizes high performance but also maintains a dynamic equilibrium in the network's coin supply.
Transfers within the Qubic network are feeless, a feature that sets it apart from many other platforms. The execution of smart contracts, however, incurs a commission determined through a quorum vote by Computors. These commissions are not pocketed by the Computors but are burned, effectively regulating inflation and deflation within the ecosystem. This burn mechanism reinforces the concept of QUs as 'energy' rather than currency, promoting a balanced and sustainable economic model for the platform.
Albin Warin , CEO of XT , has been instrumental in steering the platform to the forefront of the digital asset marketplace. Having a vision rooted in fostering innovation and expanding the horizons of blockchain technology, Warin has been a vocal advocate for the integration of cutting-edge projects.
Commenting on the listing of Qubic on XT, Warin remarked, "The inclusion of QUBIC coins on our exchange marks a significant step forward in our commitment to supporting transformative Web3 projects. Qubic's unique approach to combining distributed ledger technology with AI-driven computation is truly groundbreaking, and we are excited to provide our users access to such a pioneering digital asset."
About Qubic, the Project
Qubic, the brainchild of Sergey Ivancheglo, co-founder of IOTA and NXT, is a groundbreaking project that merges distributed ledger technology, smart contracts, and artificial intelligence. At its core, Qubic operates with 676 Computors responsible for executing tasks and maintaining the network. The platform's unique quorum-based computation system ensures reliability by requiring agreement from at least 451 Computors before finalizing any transaction or smart contract execution.
One of the standout features of Qubic is its Useful Proof-of-Work system, also known as“UPoW” for short, repurposes the computational power used in mining for AI training. This dual-purpose approach not only optimizes energy use but also contributes to real-world AI advancements. Qubic's innovative mechanism contrasts sharply with traditional energy-intensive mining processes, offering a more efficient and environmentally friendly solution.
Qubic's decentralized architecture ensures robust security and resilience against cyber threats. The platform's smart contracts enable the automation of complex processes, reducing reliance on intermediaries and enhancing transparency. Moreover, Qubic supports decentralized applications, allowing developers to create and deploy cutting-edge solutions across various industries. This combination of features makes Qubic a powerful tool for driving the adoption of blockchain technology and fostering innovation. As Qubic continues to evolve and integrate feedback from its community, it is poised to set new standards in efficiency, security, and functionality in the crypto space.
Website: qubic.org
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About XT
Founded in 2018, XT serves more than 6 million registered users, over 500,000+ monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. Since then, XT crypto exchange has expanded its offerings by covering a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. One such addition is crypto futures trading which includes USDT-M Futures and coin-M futures perpetual contracts, as well as copy trading that allows users to replicate top traders in real time with just one click. Additionally, the Futures Grid allows users to automate the buying and selling of futures contracts to make profits.
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Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
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