A lot of people have asked why Qubic is mining Monero, and it is very surprising. Qubic is built on a concept called Useful Proof of Work (UPoW), and it should not be surprising that it is putting its power to useful work.
Note: You can make use of our Qubic Monero Mining State Dashboard to track in real time.
Here is a look at the why and gains of Qubic mining Monero.
To prove its Useful Proof of Work (uPoW) works: Mining Monero shows Qubic’s network can perform real, valuable computing tasks (like cryptocurrency mining), not just meaningless security calculations. This validates the core technology known as Useful Proof of Work (uPoW).
To make mining much more profitable for its users: Qubic cares about its miners, and avenues like this will help them earn more from their useful work. Qubic mining earns significantly more money per CPU (over $3/day) than mining Monero directly ($0.64/day) or Tari ($1.65/day), making it the most profitable option.
Increased value for QUBIC token holders: While the venture benefits the miners, the holders are not left out. Part of the plan is to increase the value of Qubic so that every holder will benefit. All Monero and Tari rewards are sold, the money is used to buy QUBIC tokens on the open market, and then those tokens are permanently burned. This reduces the total supply of QUBIC tokens, and as a result, will increase the value of the token over time
To fuel its future plans: The proven ability to mine Monero shows that Qubic can use its network’s power for other valuable tasks, like training its AI (AIGarth) or selling computing power to companies, creating new ways to earn and be useful.
To attract more users and strengthen the network: The high profits and proven useful work make Qubic very attractive to new miners and validators. More participants make the network bigger, stronger, and more decentralized.