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

Recently, the IOTA Foundation shed some more light on the Mysterious Qubic project. Unfortunately, a lot of people had a tough time understanding many of the details involved.

In this video, I try to help people make sense of many of the details that were shared.

DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.

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:OOOO So it's like outsourcing your computation, APIs and finances to the blockchain? I wonder if it will be possible to create an encrypted chatroom on oracles.

From what I've seen, even with your clarifications, it's a bit hard to understand the possible use cases for Qubic. Like, if I'm a big company, what would I want to do with it? Maybe contests or such, but it seems like such a simplistic use to something so big. There's probably a lot of amazing stuff to do with it, but I just don't know what these things will be.

I hope to get a better understanding in the future. :) Thanks for the explanation, which was for me more like an announcement because I didn't know that they had released info about Qubic already.

This video was a fairly technical one and it kept me interested. Here are the things that I took from it:

What Qubic could enable:
-It enables safe communication with out side environment
-Distributed fog computing platform for building IoT apps
-Smart contract that collects micro payments in real time
-Reward system for incentivizing participation in tangle

Quorum (minimum no. of derivative assembly for conducting business) based computation - Thus minimum consensus should be reached for validating the current computational task.

Then we have quorum itself - A protocol that specifies IOTA's solution for quorum based computations.

The manifestations ..............

frankly there is a lot and I would have to watch the video again if I am to retain it all.

My interest in IOTA is quite serious because I bought some in 2017 and took some profits in December. After all this while and no action I have thinking of taking some more profits and buy a couple of other tokens..........I think I'll wait for a while and read a little more to reach a better decision.

What a fantastic comment. I think it helps people to better retain the information when they make notes like you just did :)

Thanks man!
Actually I started writing this comment in hopes of making a summary of the video so that I can retain it better and maybe it might have helped somebody ......but after a few minutes I kind of started to lag behind................
Still I think I understood most of what you were telling but I think I might not have retained the finer points. Videos like these are really helpful because now I can always come back to this post and re watch if I feel I forgot something.

Most of the specifics regarding Qubic remain shrouded in mystery, even though the project will be revealed in the coming days. On the surface, it seems Qubic will change the way businesses interact with and use smart contracts, which sounds promising. Similar to most other “mature” ecosystems, IOTA will provide smart contract functionality. Competition is a good thing in this regard, as there is no one-size-fits-all blockchain solution whatsoever.

Even though the market hasn’t responded to the event as though, one thing is not in doubt: the future of IOTA (MIOTA) appears better. What does that mean? HODL.

Many projects trying to innovate on the back of Ethereum’s core concept which is fine in the long term but first to market advantage should persist as they leverage the learning of newer projects but with the backing of current users. Smart contracts will be a fundamental factor of the coming growth and transformation that blockchain technology can bring to many industries.

Sounds like an extra security for IOTA. If I understand it well, qubics are a separate currency that runs on top of iota, probably has many other functions like being able to run completely separate blockchains like bitcoin itself on top of iota. It could be used in games as well. It’s still confusing, but based on investor’s reactions, it’s having a positive impact.

I hope it is a real breakthrough that may come... It is a fact that they will not reveal much, but if they tell us where the shots go... It will be noticed in the quotation for good or bad...

Well i hope the explanation is enough, i haven't heard about it so i will need to do some reading too. Alot of pop ups are coming up in the crypto world and its a difficult job to keep up

Thanks for the comprehensive guide to Qubic. It is definitely a "revolution not evolution" tech road map. The question is will it work on time and on schedule? There is definitely scope for a lot to go wrong ( bandwidth, security, use case, hacking) but if it does work they will win big time.

The world of encryption has become great and full of secrets
Your explanation is very distinctive and useful
I trust you, always taking your wonderful advice
You are like me here, my friend

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