Qilimanjaro ICO Review: Borderline Alien Technology
Qilimanjaro is decentralizing the concept of quantum computing by building a cloud-based platform designed for mass-scale use.
The project aims to simplify quantum computing power while vastly lowering the cost of access.
So, what is quantum computing and how can it improve our lives? More importantly, how does Qilimanjaro want to use blockchain technology to upgrade the current industry?
Well, I’ll tell you. But you’ll have to scroll down a little to find out…
Disclaimer: This is not financial advice. I’m not a financial expert by any stretch of the imagination. Most information within this article is speculative and merely my own personal opinion. Always conduct your own research before investing in anything. Remember — what you do with your money is your decision to make. And if that decision proves too difficult to make by yourself, seek guidance from a financial professional.
I plan to receive a small allocation of tokens for creating this content. That said, I will do my best to remain unbiased and fair. I try to avoid all FOMO and FUD and never wish to impart those emotions on my fellow crypto-heads.
Base Camp
Before embarking on our digital journey to the pinnacle of the highest mountain on the blockchain, let’s figure out what ‘quantum’ computing (QC) is in the first place.
To be honest, I wasn’t fully convinced of my ability to explain QC prior to writing this article. I only knew that the technology is even more computational than the computations we’re computing today.
But now that I’ve put on my hiking boots and explored the environment a bit, I can guide you to a clear lake of understanding.
Follow me, I’ll be your Sherpa along the trail…
Put simply, quantum computing is advanced technology that operates differently than the computers we’ve been using for the past 80 years.
How so? Well, let’s begin with traditional computing as we know it. Standard computer chips perform tasks while their circuitry is in one of two states: Off or On, represented by 0 and 1, respectively.
A computer’s internal pathways are either open or closed; always one or the other but never both.
And this is exactly what sets quantum computing apart from conventional computing.
Rather than being confined to operating within a ‘0' or ‘1’ state, quantum computers can operate within both states simultaneously
Now, you may be asking yourself, “how the eff is that even possible?” Doesn’t that defy the laws of quantum physics as we know them? Well, yes it does.
It’s almost magic and the technology sounds like the first step to building a star cruiser that can travel at the speed of light.
However, the technology is still very young. By some estimates, the human race is still a good couple of decades away from a fully functional, ‘fault-tolerant’ quantum computer.
Oh boy, here we go again with another potentially unfamiliar term. What does fault tolerance imply within the realm of QC?
Here, I’ll let an expert explain it all to you, beginning simplisticly:
If you made it all the way to the end of that video, congratulations. You now know more about QC than the majority of your fellow man. You’re in elite company.
And now that we know what quantum computing is all about, let’s look at what Qilimanjaro has planned for their blockchain safari…
Mountainous Problems to Crisscross Through
Ascending to the cloudless top of the quantum computing industry means traveling a long and bumpy road. Although there are alliances to be made along the way, predators abound.
Since this isn’t the Qilimanjaro whitepaper, we’ll cover two of the main roadblocks to success: Fees and fraud.
And, interestingly, one of the best use-cases for quantum computing can directly benefit cryptocurrencies.
But let’s start with those nasty fees…
Hidden, Overpriced Routes
Much like the current state of modern robotics, quantum computing projects are generally siloed. Big corporations with deep pockets — who can afford to put bling’d-out golden conductors all over their machinery — operate in tight-knit groups hesitant to share new discoveries.
After all, there’s capitalism at play here.
Of course, there are exceptions. And if you watched the video, you already know that IBM offers free access to a cloud-based quantum computer. Yes, access is free, but preparing for your journey is not.
Break out your wallet because before we can even begin our trek to the peak, we’ll need to stock up on loads of North Face equipment.
You see, migrating your problem — whether that’s crunching numbers or simulating natural processes — requires converting your quandary to quantum logic.
And for that, you’ll need an elite, highly paid specialist. That’s not something Jane in the IT dept. is going to be able to handle.
So unless your own pockets are deep, good luck. The quantum computing party is BYOA — Bring Your Own Algorithm.
Our Beloved Crypto is Already in Jeopardy
Cryptography helps prevent data breaches and keeps our secrets locked within digital files. Without encryption, sensitive information is easily hacked by a computer that’s strong enough.
And for now, we’ve got our crypto on lock. There’s no computer out there that can start running combos until it cracks into Coinbase. But a quantum computer absolutely could.
Armed with a full-fledged QC — which thankfully doesn’t exist yet — hackers could crack into any crypto exchange they’d like.
How can we stop this menace? Quantum cryptography, that’s how. Qilimanjaro wants to address the growing threat of a true QC wreaking havoc throughout the crypto industry.
The good news is that a solution to these problems is in the works. And not just any solution, a blockchain solution…
3 Angles of Attack
Collaboration
An essential component of any successful crypto coin or token project is the community built up around it.
Qilimanjaro’s plan is to create what’s called OPENQ, a platform that facilitates the creation of quantum algorithms. Rather work on secretive projects, QC enthusiasts can share ideas and feed off of each other’s progress.
And, not only is Qilimanjaro creating a collaborative community environment, the team is providing this vibrant society with tools to simplify moving problems to quantum logic.
Through a unique consulting service — QSS — users gain a simple interface on which they can write basic code before sending it for execution on Qilimanjaro’s cloud-based quantum computer.
Each individual run of Qilimanjaro’s QC is considered a rental, payable only with the ecosystem’s native ERC20 token.
Openness
Most of today’s enormous tech companies have a quantum computing initiative of their own. These organizations include Microsoft and Google and IBM, a few of the biggest corporations in the world.
Then there are the somewhat smaller players like Rigetti and D-Wave. No matter the size of the company, they each have their own quantum machines. Problem is, they don’t all speak the same language.
Qilimanjaro aims to rectify this lack of communication by creating QIBO, an open-source language that can run quantum applications in any quantum computing machine.
So whether a team wants to use Google’s machine or Qilimajaro’s— known as QCS — they can write in QIBO and the same code will run on any quantum device.
And, of course, Qilimanjaro will encourage the community to use their machine exclusively. But not solely for the creation of revenue; team Qilimanjaro presents their quantum computer as an accelerator for the entire QC industry.
Compared to the machines owned by the big players in the space, Qilimanjaro team feels their approach — using analog — is more likely to trigger the ‘quantum speedup’ defining the technology.
Rewards
The QBIT token is considered a utility and not a security. But their definition won’t stop QBITs from potentially increasing in value. The team has plans to maintain the tokens’ economic scarcity.
Earning QBIT Tokens
Quantum programmers are at the heart of the token-earning system. Any individual or organization adding value to the OPENQ platform will be rewarded with QBITs.
Quickening the development of new and effective quantum algorithms is at the core of what the Qilimanjaro team is trying to accomplish. The goal is to construct a library of algorithms built by developers that earned tokens for their efforts.
HODLing QBIT Tokens
Possessing QBITs comes with a number of perks, especially for enthusiasts of the quantum computing industry.
Token holders gain access to educational materials focused on quantum computing. Qilimanjaro’s QC courses are yet another effort to spark interest in the QC industry.
Team Qilimanjaro also has yet-to-be-announced rewards lined up for token holders.
And by hanging onto your QBITs, you may enjoy a value increase from token burns, discussed in detail a little farther down this page.
Spending QBIT Tokens
In order for a real-world problem to be eligible for help from a quantum computer, 2 things need to happen: Quantum software must be created, and that software requires a quantum device to run it.
Both of these instances will require spending QBIT tokens within the Qilimanjaro ecosystem.
Developers who’ve already created a quantum algorithm can simply rent Qilimanjaro’s machine. And those without an algorithm can utilize the aforementioned QSS service to get one created.
Burning Tokens
Qilimanjaro has already considered how to keep their QBIT token valuable. There’s a 2-way fork in the road for every token the team receives as payment for services rendered.
30% of tokens collected by the project will be burned, most likely in fiery lava under the glow of a full moon
The other 70% of token payments will be considered profit and sold to the market to cover the project’s expenses.
And in order to keep costs steady for users of the platform, Qilimanjaro will adjust their service fees to align with the diminishing supply caused by all those melted QBIT tokens.
Tokenomics
Now that we know some of the planned utilities for QBIT tokens, we’ll look at how they fit into Qilimanjaro’s ICO.
This image sums it up:
I appreciate like the project’s decision of limiting max token supply to only 300M. Loads of ICOs are going well beyond the 1B token mark these days.
How to Score the Biggest Bonus
If you’re reading these words, the early-bird, private pre-sale is still live.
But, it’ll cost you at least 100 ETH to set foot on the trail. And if you’re taking the VC approach, you can enjoy a 50% bonus.
The Qilimanjaro Private Pre-sale form will only take a few moments to complete. Breeze through 7 quick and easy questions to declare your interest.
Final thoughts…
The Qilimanjaro project has a long, long path to travel. Take a look at their roadmap and you’ll see that it goes a good 5 years into the future; much longer than most of today’s ICO projects.
The team’s goals are lofty yet attainable with proper execution. For anyone wanting the quantum computing industry to develop at a faster pace, this is absolutely the project for you.
Establishing a customer base alongside a large community of QC lovers can propel Qilimanjaro to the forefront of quantum computing. The team’s blockchain-based, developer-incentivized, open-source approach to QC certainly has promise.
And as a HODLer, I especially appreciate the efforts to stop quantum-based crypto attacks before they become a reality. We all thought 51% attacks were near impossible but we’ve seen a couple of such hacks in the last few months.
Now, this article only scratches the surface of what the team has planned. I encourage you to read the whitepaper and visit the site for more in-depth info.
Considering what they want to do and how they’re trying to do it, my outlook on Qilimanjaro is bullish. And if you’re a supporter, too, let’s hope to see each other at the top of the mountain.
Reach out to the team
The Qilimanjaro team can answer any further questions you may have. And at the moment, the best way to make contact is in their Telegram group.
Other project links:
Twitter: https://twitter.com/qilimanjaro
Website: https://qilimanjaro.io
Whitepaper: https://qilimanjaro.io/static/whitepaper.pdf
By the way…
If you like what you see here and are in need of help getting your crypto message to the masses, I’d love to hear about your project.
Feel free to reach out to me here: blockchainauthor at Gmail
