CoinFac Limited, a technology company established 2016 in Hong Kong and owned by Palantir Technologies Incorporation, is making inroads into bringing Quantum Computing technology, an industry worth a reported $550 million USD, to the bitcoin and cryptocurrency mining game. Quantum computing is thought to be the next generation of supercomputers, capable of processing dense digital information and generating multi-sequential algorithmic solutions 100,000 times faster than conventional computers.
Mike Howzer, CEO of CoinFac Limited, commented: “We envisioned cryptocurrency to be the game changer in most developed country’s economy within the next 5 years. Reliance of quantum computing technology expedite the whole process, and we will be recognized as the industry leader in bringing about this tidal change.”
Mining bitcoin requires the solving of difficult algorithmic equations; these equations will gradually become more complex in nature, thus increasing the difficulty of mining processes. With each quantum computing server weighing in between $5 Million and $10 Million USD, this the technology is expensive but could expedite the process of bitcoin mining dramatically. With a claim of the ability to mine cryptocurrency at an amazing hashing speed of 280,000 GH/s, CoinFac could become a name to be reckoned with in the bitcoin mining world.
Howzer continued: “Through the use of quantum computing, usual bitcoin mining processes are expedited by a blazing speed of 4,000 times. We bring lucrative mining back into Bitcoin industry, all over again. With our strong and unique solution we are offering, we are set to breached the $50 Million USD by the end of this fiscal year,”