On 27th July, Qubic Lite released its gaming module “Tangle Farm” and addressed it to be the “very first qApp and decentralized IOTA game.” A 19-year-old German computer science student passionate about cryptocurrency and IoT protocol developed Qubic Lite, a community implementation of Qubic Protocol. This protocol is an imitation of IOTA’s Qubic.
Qubic Lite tweeted:
“Finally! The very first qApp and decentralized IOTA game “Tangle Farm” (more info on http://qame.org/ ) has been successfully tested in a 3 player session, showcasing the capabilities of the Qubic Lite protocol.”
Qubic is a powerful distributed fog computing platform for building complex IoT applications, a new type of smart contract. It collects micro-payments in real time, and introduces a reward system for incentivizing honest participation in IOTA’s ‘Tangle’.
IOTA Tangle works differently from the blockchain and so do its elements, including Qubic. Instead of the blockchain, Tangle is built on DAG [Directed Acyclic Graph]. The Tangle graph is the ledger for
storing transactions instead of the conventional ‘blocks’. Its edge set is obtained in a way that when a new
transaction arrives, it must approve two previous transactions; these approvals are represented by directed edges.
IOTA explains this with an example in their whitepaper saying:
“If there is no directed edge between transaction A and transaction B but there is a directed path of length at least two from A to B, we say that A indirectly approves B. There is also the “genesis” transaction, which is approved [directly or indirectly] by all other transactions.”
Sites are transactions represented on Tangle’s graph. The network is composed of nodes and they are the entities that issue transactions.
Qubic is a protocol that specifies IOTA’s solution for oracle machines, smart contracts, outsourced computations, and more. The IOTA Qubic team created a programming language known as Abra, in order to implement Qubic. IOTA in its blogs explain Abra saying:
“Abra is trinary-based because trinary systems can provide significant energy savings, a crucial consideration for IoT devices. One trinary digit, a trit, can represent 1.58 bits. The amount of wiring necessary for a trinary system can, therefore, be reduced to about 64% of an equivalent binary system, resulting in a corresponding energy reduction.”
Abra can be coded to merge Qubic and build use cases for the same. Until the official release of Qubic is not initiated by IOTA, QLite is the closest temporary solution according to the creator of QLite. The creators of Qubic Lite consider it to be a route to keep developers enthusiastic for the release of Qubic and implementation of QApps [Qubic Applications].
Janthecryptocar, a crypto-enthusiast said:
“wtf are you for real? a game build on qubic tangle farm is way better than Farmville”
Kiara Lewis another IOTA supporter says:
“I have supported iota since day 1 im so glad to know this project has been build. dominik and david should be tagged here”
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Binance coin pumps by over 6% in an hour; breaks its all-time high
On June 20, Binance coin [BNB], a coin ranked seventh on CoinMarketCap, surged by a massive 6.38% over the past hour. The coin also broke its all-time high and was trading at $36.47, at press time.
At press time, BNB was being traded at $36.47 with a market cap of $5.097 billion. The 24-hour trading volume of the coin was reported to be $571.64 million, as it spiked by 2.35% over the day. Over the past seven days, the coin noted a rise of 2.03% in its price and continued to rise by 6.38% within the hour.
This hike follows Singapore-based cryptocurrency exchange, KuCoin, listing Binance coin [BNB] and Binance announcing the launch of Elrond project on Binance launchpad. Binance funded the sharding-based public blockchain network in a private funding round, as the company closed the round with $1.9 million. It will be the next project supported by Binance launchpad and the token sale will be carried out in a lottery fashion. The token sale is scheduled to begin from June 22, 00:00 AM [UTC].
The coin was highly traded on Binance exchange with BNB/USDT pair and BNB/BTC pair. BNB/USDT took the first place as it noted a 24-hour trading volume of $137 million, followed by BNB/BTC which reported a volume of $126 million. The third position was taken by LBank exchange, which registered a trading volume of $120 million with BNB/USDT pair.
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