IOTA Unveils Qubic: The Key to an "IOTA-based World Supercomputer?"

After weeks of speculation, IOTA has given clarity on its enigmatic Qubic project - or what it describes as "The most significant contribution to the IOTA stack" to date.

Aimed at facilitating smart contracts, oracles, and outsourced computation, the young Qubic protocol may be a future asset to IOTA - the 9th largest cryptocurrency by market cap.

We are moving rapidly towards the next epoch of IOTA, today the IOTA Foundation is excited and proud to start the official unveiling of Qubic.

A self-stated "Work in progress", Qubic is a new protocol layer for the IOTA 'Tangle'.

Enter: Qubic - purportedly offering IOTA the functionality of a fully-fledged smart contract platform such as Ethereum - while offering the scalable, zero-fee utility permitted by DAG technology.

"The original Qubic idea had some hard to overcome problems. The IOTA protocol was created to help solve those problems. Indeed, IOTA was designed to become the global standard for IoT messaging and payments. Qubic follows that standard, and is made possible by fee-free IOTA transactions,".

While building on this concept, the IOTA team have quickly disclaimed that IOTA's Qubic will not employ a new token or any form of airdrop.

While IOTA has positioned itself primarily as "Enabling the true Internet-of-Things," the reported functionality of Qubic would suggest loftier heights are in sight.

"Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle."

The IOTA Foundation's track record of execution and recent momentum would certainly lend IOTA enthusiasts enough reason to place their faith in Qubic.