Today, Cube Chain made an announcement about its expansion and upgradation. The upgraded version will be called- ‘Cube Chain 2.0’ and the process will commence on March 2nd, 2020. As per the company’s website, the upgradation will bring:
- Enhancement POS
- Change in mining quantity
- A decrease in total issue
- Token burn
The platform offers a new algorithm of Block Chains, which it calls- ‘Cubes’ which help in solving issues around speed and scalability, which its counterpart (linear connections) can’t solve. With the coming upgradation, the efficiency is expected to rise many folds. Once the Cubechain 2.0 White Paper gets released, further details can be found, Cubechain informed.
What to expect from Cube Chain 2.0:
The platform announced that there would be a total decrease in issue (12 billion -> 6 billion). The remaining 6 billion QUB will be burned. (Please note that 6 billion of each QUB coin and QUBT will get burned.) Further, the address will be “open immediately as it proceeds.”
The previous ERC 20 QUB will also be fully burned. They will get released after the completion of the swap. The swap will be between the old ERC 20 QUB and QUB Coins. The reduction in the total issuance will cause a decrease in the POW/POS mining volume, too, the platform announced.
Further, the current QUB holders will get to see an increase in the ratio between POW and in POS.
The upgradation of CUBEMINER:
CUBEMINER will get upgraded as a result of this expansion of Cube Chain 2.0. The mining will get restricted to the old version (v2.5), starting from today (Feb 25th, 2020.) Whereas, the change in the mining quantity will start to come in effect from March 2nd, 2020.