On June 30, Qubitcoin, a Layer-1 blockchain project based on Proof-of-Work (PoW) along with quantum-based tasks, revealed its first monthly update.
We are excited to share our monthly progress update. This is the first comprehensive update of this type that we are publishing, so feel free to let us know how we can adjust the format in the future.
Technical
We previously announced that the first draft of the specification…
— Qubitcoin (@qubitcoinx) JUNE 30, 2026
In the first report, the team behind Qubitcoin mentioned progress in its second quantum-related PoW task. In the report, the team has also revealed major hurdles in the optimization of the network.
Qubit Shares a Major Technical Update on Its qPoW Progress
According to the official post shared on X (formerly Twitter), the Qubit team revealed that it has completed the first draft of the specification for their second PoW task. It has optimized sequences of quantum gates to make circuits cheaper while ensuring their efficiency for real quantum hardware.
“This task is based on the fundamental problem of quantum compilation, which is essentially concerned with changing the particular sequence of quantum gates that a circuit consists of to make it cheaper or more reliable to run on real quantum hardware,” stated in the post on X.
The team mentioned that the topic of quantum compilation is an active area of research and it is a very important task for the future development of quantum software.
For the last few months, the team had been working on a fully working prototype for minting and verification purposes. Qubitcoin has revealed that the core concept is to generate valuable data in block solutions, though the team faced issues while doing so. According to the official post, block verification times were too low for the current network structure.
The post stated that “Due to this, our research team is currently exploring ways to alter the task specification to mitigate this problem while keeping the core problem of quantum computation at its heart.”
Apart from the technical progress, the Qubitcoin team has also shared a statement on their discussion with some venture capital investors regarding fundings.
The Qubitcoin team said, “Throughout the last two months, our team has been in talks with several venture capital investors regarding potential funding for the team’s expansion over the course of the next year. Due to the ongoing nature of these talks, the team decided not to share any additional information until the matter concludes in the coming months.”
What is Qubitcoin?
Qubitcoin is a Layer-1 blockchain network that integrates Quantum Proof-of-Work and requires miners to solve quantum circuit simulations, and this is how it differs from the Bitcoin network.
There is no need to solve complex mathematical puzzles like miners do on Bitcoin. Instead, on Qubitcoin, miners will be able to run quantum circuit simulations on GPUs by using tools such as NVIDIA’s cuQuantum SDK. This kind of mechanism directs mining power into contributions for quantum simulation research while ensuring the safety of the network.
The project was started as a Bitcoin fork, and it is expected to connect blockchain rewards with development in quantum computing. The network is developed by the non-profit Superquantum group while keeping its source code open on GitHub. The network already has a web wallet along with GPU mining mechanisms.
Quantum Threat to Cryptography Disturbs Blockchain Sector
The ongoing progress around quantum computing technology has created panic in the blockchain industry. The reason behind it is that these quantum computers can use special algorithms such as Shor’s to break the cryptographic security of public keys. These quantum computers can even break ECDSA on popular blockchains like Bitcoin and Ethereum in no time.
The biggest threat of quantum computing is linked to digital signatures. Once large-scale quantum computers become a reality, attackers could potentially forge transactions or steal funds by breaking the cryptography that secures these signatures. This is the major reason why many blockchains are working on quantum-resistant cryptographic solutions.
For example, Ethereum recently expressed its fear over rapid developments in quantum computing, saying that “The gap between current hardware and what is needed to break Ethereum’s cryptography remains significant, but it is narrowing faster than many expected. Notably, the U.S. National Institute of Standards and Technology (NIST) anticipates deprecating ECDSA by 2030 and disallowing it by 2035.”
This is the major reason Ethereum is working on quantum-resistant signatures like XMSS, along with other hash-based options. It has also created a team that is working on migration plans.
