New AI-driven algorithms improve cryptocurrency mining, according to researchers

Cryptocurrency miners may be able to improve their efforts using artificial intelligence

Francesco Gardin, the CEO of Quantum Blockchain Technologies (QBT), recently announced in an interview with Cointelegraph that the UK research company is revolutionizing cryptocurrency mining through artificial intelligence (AI). It has reportedly developed AI-powered search algorithms that could significantly increase the winning probability of some ASIC Bitcoin miners.

Gardin explained how QBT has integrated AI to boost the smart search of winning hashes as an option to traditional random searches. The machine learning teams at QBT have designed two algorithmic search methods to improve ASIC miners’ performance by raising efficiency and the probability of winning results.

“Method A” is expected to increase efficiency by 10%, while “Method B” is said to improve the probability of miners finding a winning result by 260%. QBT also described in a recent patent application that its team is also designing a new architecture for ASIC mining chips to optimize Bitcoin mining.

Gardin conveyed that the QBT Message Scheduling for Cryptographic Hashing ASIC (MSFCA) is an “anticipatory resource efficiency algorithm” that reduces SHA-256 ASIC architecture logic gates. MSFCA lets miners use fewer logic gates, which improves ASIC mining hardware efficiency and lowers energy costs.

Gardin added that these new techniques could influence the Bitcoin mining industry, which depends on miners’ hashing power and hardware configurations and expends considerable energy. QBT says its products will give an “uncatchable advantage” with AI and SHA-256 optimization. The company doesn’t plan to open source its patented processes and is weighing further options to present them to the Bitcoin mining market, including licensing, subscription, joint venture, or purchasing the company and its technologies outright.

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