Quantum Blockchain Wins US Patent Approval for Bitcoin Mining Breakthrough
Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) has received formal US approval for its patent application covering technology intended to improve the efficiency of Bitcoin mining hardware.
The company's ASIC Ultra Boost technology uses a message-scheduling process called 'Message Scheduling for Cryptographic Hashing' which underpins the invention. This process is designed to eliminate redundant calculations from the SHA256 message-scheduling process used in Bitcoin mining, making it more efficient.
The approval does not yet represent a final grant of patent rights and QBT must complete several formalities, including paying issue and publication fees. The company has instructed its UK patent lawyer to coordinate payment with its US attorney.