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RE: What the F*** is Qubic? - Untangling the Main Concepts

in #cryptocurrency ā€¢ 6 years ago

After listening to you throughly at least three times šŸ˜† (very important to me to understand a bit since Iā€™m invested in IOTA) if I understand it well quorum-based computation can be compared to minimum votes requirement by board members to validate the specific task which might sound and be quiet similar to EOS system. Except, there are voters, us EOS holders. In EOS, there is actually required 15% minimum of votes in order to kick off. Itā€™s still a bit confusing and excuse me if Iā€™m wrong. Also when you mentioned multiple use of Oracles to avoid any mistakes (I could compare it to Supreme Court with multiple judges where majority have to agree) which Iā€™m really happy about especially about validating the correctness of the specific data and getting rid of any ā€œcheatersā€. Then Smart contracts/Qubic which would eventually be much more advanced than smart contracts on euthereum protocol infrastructure. In my previous comment I wasnā€™t clear about Qubic as a separate currency that runs on top of IOTA. When I think about it itā€™s more like smart contracts initiating through Qubic being paid out in IOTA. This leads me to conclusion that Qubic is not a new token or coin at all, there is no Qubic ICO and will not be. That Iā€™m clear about. Qubic actually improves IOTA as it is. At the end it may lead to zero fee transactions at much higher volume thanks to Tangle and QubicšŸ˜“. However, this to become fully functional can possibly take months if not years. I guess we need to be patient.

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Haha! It definitely takes a while to get your head around šŸ˜