qBitTensor Labs Live — November 7, 2025

Open Quantum Is Live

We launched Open Quantum as a private beta, and it is already handling real users running real quantum circuits against real QPUs. Hundreds of quantum jobs have now been executed on real quantum computers running on BitTensor. This is more than a technical milestone -- it means BitTensor is actively contributing to the quantum ecosystem by routing miner emissions to quantum computer manufacturers and operators, helping them reinvest into R&D. We are making quantum computers accessible to people who may not have been able to afford them otherwise, and we are supporting the quantum industry as a whole.

What Is Open Quantum

Open Quantum is an application interface and Python interface that sits on top of the BitTensor network and allows for free and subsidized access to quantum computers. Quantum researchers and developers can integrate it directly into their existing Python-based workflows. You can simply pip install the Open Quantum package, pip install a sub-package for your framework, and start running quantum jobs for free.

Key Features

• Free access to quantum computers (IonQ, Rigetti, and IQM at launch)
• Execute QASM files 2.0 and 3.0
• Seamless integration into existing quantum workflows via Python libraries
• Fast setup -- just pip install and go
• Users contribute to a growing dataset of real-world quantum usage patterns, positioning it as one of the most important datasets in quantum computing at this stage of the industry

Community Feedback Driving the Roadmap

We are focused on refining the platform based on real user experiences during the private beta. The plan is to extend access to QBraid and Quantum Rings users in mid-to-late November before a broader public launch in December. Framework support will expand beyond Qiskit to include PennyLane and Cirq, along with a native QBraid integration. Remaining work includes wallet linking, e-commerce, and a public dashboard showing job and payout history.

BitTensor Emission Model Changes

The emission model shifted from being based purely on subnet price to focusing on Tau inflows -- essentially incentivizing profitable subnet management. We see what the leadership is trying to accomplish, and while we expect iterations before it is fully locked in, the initial impact on the quantum subnets has been slightly positive. We believe we are well-positioned to weather this change given the timing of our feature launches and the attention they are attracting.

Subnet 63 Phase Two Acceleration

We are using this moment to accelerate the transition to Phase Two on Subnet 63. Effective Monday morning US time, all new miner emission and all new owner emission on SN63 will be routed into filling prize pools. We are foregoing our own owner emission until Phase Two launches (targeted for late December). This removes sell pressure from miners who previously had to sell tokens to cover GPU costs. In Phase Two, miners will compete by submitting methods and source code rather than raw compute, enabling them to commercialize their intellect and develop licensable quantum IP.

A Week in Quantum

We attended three events in one week: QBraid's Quantum Developer Day (where we publicly presented Open Quantum and BitTensor to the quantum community for the first time), the Chicago Quantum Summit (opened by Illinois Governor JB Pritzker), and meetings at Google's headquarters with the QEDC. We also toured NYU's quantum labs and visited IBM's Quantum Research Center, where we saw System One and the running System Two. The industry news was relentless -- IonQ and D-Wave both doubled revenue, the DOE announced hundreds of millions in new quantum funding, Xanadu announced a SPAC, Nvidia revealed GPU-to-quantum-computer interlinks in Jensen's keynote, and Quantinuum launched Helios (their 50 logical qubit system).

But thank you so much for joining us. We got some super cool stuff to go. It's just been like it's been an insane week not just for our subnets not just for Bit tensor and us putting real freaking quantum computers on bit tensor But for like the whole quantum industry also and so we'll try to like hit up a little bit of all of that in today's agenda As always these things are done

as transparently as possible. like to speak as freely as possible. And so all the information presented is ideas and concepts and not promises. So again, as always, you know, treat everything we say as forward looking ideas, not promises. This is not any kind of investment or legal advice. We appreciate that you guys continue to use this content for good and not evil. Keep that up. And if you are still here, then you agree.

and let's get going. Okay, so on today's agenda, first we're gonna talk open quantum because big news since the last time we did a qBitTensor Labs live there. I got ShorShot Ryan on who kind of heads up a lot of our engineering there. So we'll kind of just talk about, you know how that all went and what's next for that.

Obviously the elephant in the room for like every every player in the bit tensor ecosystem is probably these massive emission changes So we'll talk just a little bit about that and you know how we're how we're looking at that and how we're navigating that Then we will spend some time talking quantum like I say we've been on the road all week for any of you guys that follow us on On the socials you will have seen us posting up some stuff about that

Okay, so let's jump into Open Quantum. So I guess the big news is that Open Quantum is freaking live. So we launched this as a private beta.

The private beta has real users running on it, running real quantum circuits against real QPUs. And so what that means is, at this point, you can go around telling everybody that it is a fact that hundreds of quantum jobs have now been executed on real quantum computers running on bit tensor. It's also not in any way a stretch to say that bit tensor is now contributing to the success of quantum, because these minor emissions are being routed out.

to quantum computer manufacturers and operators, which helps them reinvest into R &D. And so not only are we making quantum computers accessible to people that might not have been able to afford it otherwise, but we're also supporting the quantum industry as a whole. So congratulations to everybody that's been on the journey, Ryan and team, you guys have been working so hard on this stuff. So thank you for all the hard work.

like in real life stack, like centralized databases, centralized web apps, APIs, all of that stuff, and a complete decentralized infrastructure in order to do all of this on chain with BitTensor. And you mix in all of the quantum aspects and integrating into quantum frameworks. The amount of work that you guys have done is nothing short of incredible. So thank you for that.

So if you are just joining us here, like I assume most of you guys have all this context, but just in case you are new to this, I thought it maybe would make a little sense to talk about what Open Quantum is. So Open Quantum is an application interface and a Python interface that sits on top of a bit tensor network that allows for free and subsidized access to quantum computers. Now,

In real life, quantum researchers and quantum developers write their software in a stack, like in a Python based stack most of the time, and execute their quantum circuits on quantum computers within those stacks. so Open Quantum not only provides an application where people can submit those jobs, but it also allows for integration through Python libraries directly into their workflows. So can just pip install the Open Quantum package, pip install

a sub package for your framework and start running quantum jobs for free.

of what people are doing out in the world. How big of a quantum circuit are people executing? You know, are people working on trying to hack Schor's algorithm? Are they working on trying to do quantum ML? Are they trying to, you know, work on quantum simulation of chemicals? Right. So as we are providing all of this functionality for free, we're also creating what I think is going to position itself to be one of the most important data sets in quantum computing at this stage of the industry. So super excited.

it. And of course this is all built on top of BitTensor. And so yeah, well I guess anybody technically could build a centralized system that resells quantum computing.

You know, this is all really made possible by the decentralized incentive structures that bit tensor was innovative enough to primarily for the AI space, but now repurposed to sort of the next frontier, which is quantum computing. And so we're super excited about that.

Now the users for this, the end users for this are quantum researchers, quantum academics, software developers who are trying to sort of explore quantum computing, people who are actually employed by enterprises in quantum roles, or students or enthusiasts. Any of those people can come in and use the system.

We do plan to roll this out to a much broader audience, including QBraid users, Quantum Rings users, to sort of go from the people that we are very comfortable with taking tight feedback from into a broader community before ultimately getting to the public release planned for December. And...

The, you know, I think for those of you that follow on socials, you'll see that we were recently at the QBraid developer event. And we'll talk a little bit more about that when we get into the quantum section. But, you know, we had a captive audience from a lot of the key players in quantum sort of sharing this and actually, you know, it's kind of weird to be in a room full of quantum people and telling them that this is all powered by bit tensor. You know, I think honestly, so many of them are intellectuals that when they didn't know what that word meant, they probably just pretended like they knew what

meant but you know there weren't even any weird looks you know when we started talking about bit tensor in a little bit so yeah really kind of interesting all right and so there's still more to do though and Ryan maybe I'll you know throw these up here and then we can talk through some of these items but so much awesome work has been done

The subnet code is essentially out. That's in maintenance mode at this point. We'll squash bugs when they come in, but all the features required are implemented there.

you know the community can sort of see exactly the volume of work that's coming through here. But yeah. Go for it. Yeah.

Continuing to extend out the quantum frameworks that we integrate with. So one of the interesting things is there's this really cool organization in the quantum space called the Unitary Foundation and Every year they put out these market adoption surveys where they've you know Essentially send it out to everybody in the quantum industry and they say what frameworks they use in the most recent one I think it was 74 % of all quantum users use Qiskit and so we started with Qiskit integration but Penny Lane and

a framework by a quantum company called Xanadu has been really growing pretty fast in popularity. So we'll be adding support for that pretty soon. And then Cirq is Google's...

current language, they have a new language that they're sort of working on also, but Cirq will be sort of the next in terms of adoption. And then that partner that we talked about, QBraid, you we've got some aspirations to build a really, like, while it will be available to them, we actually have some cool opportunity to actually do like a native integration to make it just super easy for QBraid users. Yeah, anything, did I miss anything, Ryan?

Is that about it?

not as well known to the outside because they're not a publicly traded company, but they actually have deployed the second most quantum computers out of any quantum company out there. And so a really nice broad set. We did have some questions from some BitTensor detail investors who are like becoming super quantum savvy. It's really fun to watch. Like obviously watching the news and quantum because they're asking about like specifically about the quantum

Helios system that was launched just like within the last 48 hours to see when we'd be able to get that online You know we One day we will have the pull to be able to you know have the inside scoop and have those things that launch But you know today that's a very exclusive system, but we'll be working on adding more and more quantum computers over time

And a big part of that will be based very much on user demand, which is the real reason for the rollout plan that we talked about, where we start with a private beta, take feedback from people that we have access to, extend it out to more people who will be less likely to share detailed feedback with us, but we'll be able to identify usage patterns and stuff like that before ultimately opening it up.

All right, so emissions. This one's kind of like the elephant in the room. So on this one.

to do with that. But whereas emission used to be based purely off of your subnet price, it's now based off of essentially like the Tau inflows. And so, you know, it puts, you know, if I were to sort of like frame it up to somebody outside of the ecosystem, I would say that it's much more focused around having a profitable subnet.

Now before starting quantum startups, I used to work in like much larger organizations. And sometimes I would work for like really small businesses where you're expected to be losing money. And other times I'd be working for like much larger businesses. In fact, Ryan and I used to work for one of the really large business units at one point together. And one of the really interesting things in my mind is you just manage those things differently. You know, like if you're starting up a brand new

venture, you realize that you're going to be losing money for a while. Like it's going to take you a while to sort of like get out there, validate, run your hypothesis, make some mistakes, take some risks before you sort of start managing it like a growth business. And then eventually you reach a size and you should be managed like a growth business. If I were to sort of like map this out to the rest of the world, would say like it used to bit tensor subnets used to be run like startups.

and now they're sort of being incentivized like the growth businesses. Now, I do have a hypothesis that that is gonna be appropriate for subnets at a certain point in their life cycle, but probably not for subnets at all points of their life cycle. And so, my hypothesis is that, well, this is all really well-intentioned and done for a smart reason. Probably it'll go through some iterations. But overall, you can definitely see what...

So one of the big questions that comes up though is like, how will it affect the quantum subnets relative to the other subnets? And the cool news is initially positively. we, since these changes have gone out, we've seen a small uptick in our overall emission. And so, you know, no downside in the short term. Now I do imagine in the long term, this is going to be really hard for a lot of subnets. I think we're actually poised

to weather this a lot better than a lot of the subnets because we happen to find ourselves at this really exciting time where like we're launching really cool new freaking features and it's going to be attracting a lot of attention and you potential investor dollars coming in. We're really lucky that that's where we're at in our life cycle. I think a lot of other subnets might not be so lucky and I do think it I think this will be pretty painful for a lot of subnets and to some extent there's a possibility that that's a part of the intention.

But we're a big supporter of the leadership behind BitTensor. We think they're really smart. We think that they're going to get this all figured out. We totally understand what they're trying to do, or we think we understand what they're trying to do. And we do think that there's likely to be some iterations on this before it gets all locked in. But overall, we're excited. We're rolling with it.

All right, so with that, one of the cool things about these types of changes though, like, know,

probably pretty small margins. don't know exactly what the margins are on the miners, but I'm guessing it's got to be pretty tight because these are some really hard problems that they're processing. And we want to use it as an opportunity to actually get them to this new world much faster. In this new world, they're competing against themselves, but also against real quantum researchers who will be joining.

Instead of constantly burning GPU and constantly running the same types of problems over and over again, like very much like, you know, almost like traditional Bitcoin mining or something like that, we are moving into this model where what you are submitting is not the answer, but the method for how you achieved the answer, which will mean that people can commercialize their intellect instead of their compute horsepower by developing quantum IP.

The long-term vision on what this is, is to create an IP trail that we can license commercially and use that commercial licensing to find a virtuous cycle for the token itself. But the way that we're going to get there.

is by using this opportunity to start filling the award pools very quickly so that we can switch to that new method. And so what we're announcing is that on subnet 63, effective Monday morning US time, all new miner emission and all new owner emission.

We wanted to get to phase two. We've always wanted to get to phase two. We've talked about slowly turning the knob and driving up a little bit more emission. But with this really big change to how the emission models work, it also really helps the tokenomics to remove that sell pressure by having miners constantly needing to sell their token to cover the cost of their GPUs. Phase two is just so much better. It's going to give them like way higher profit margins. And they're not going to have that same sell pressure to offset their costs.

And so they can actually hold the coin if they believe in the mission they have the flexibility to hold the coin and reduce cell pressure And so we're super excited about this We think that this is going to fill these prize pools very quickly Because we are going to be taking all owner emission out of our wallet and redirecting it into these prize pools That means that what the miners will ultimately be competing for is not just the miner emission that has accumulated but also they get

owner emission, we're giving our owner emission to the miners while we're filling these pools. And it also creates a real forcing function for us because we essentially make, you know, zero dollars in emission until we actually launch the Phase 2, which highly motivates us to launch it and to launch it right.

Also, I'm sure if you do the math on that, the tokenomics look really good if you're a detail investor by, again, removing all the sources of cell pressure while we're doing this. So yeah, we're excited about it. really, and you know, really hats off. Ridges did go through a really similar transition.

Well, I don't want to give too many hints around what the initial prizes or what the initial challenges will be Knowing peaked circuits really well and having come up to speed on shores Those are going to be very helpful when you get there And so yet if you have built up that intellectual foundation That will be very reusable when we get to those new challenges We are expecting this to be Available in late December

and we'll be foregoing, like I say, owner omission until we get there. There was also a question about, you what does that mean about Shores? Well, the plan is to reuse these, but not in the exact form that you would have seen it in the subnet code. you know, keep getting ready and we'll be really excited to see you in the new manifestation. Again, Monday morning, US time is when that change will go live.

Ryan, did I miss anything on that? By the way, I babbled a lot. Like, I was not concise. I'm over-caffeinated and under-slept.

Where we are right now, I'm so excited about the fact that we did that and that the community stayed with us for two reasons. One is you can really start to see that the business model on Subnet 48 quantum compute is all about a two-sided marketplace, giving people access to quantum computers, selling upgraded access. That has one business model. 63 is all about solving hard quantum problems and licensing that.

out to quantum companies and that has a very different business model. Also, as we have been engaging with outside investment to bring money in, which I don't want to say anything about that because it starts to get very financial, it's a very different kind of investor. People either understand 48 and they are bullish on 48.

or they understand 63 and they're bullish on 63, but it's actually really unusual to find people out there that sort of see both of those and get really excited about both of them. So, you know, really in hindsight, you know, we're always reflecting on this also, but, I think that was a great decision at this point.

to try to describe bit tensor to the quantum community, it's a fascinating thing. But when you basically structure it in terms of almost like this black box and you talk about the attributes of it and you talk about what it does, it's really easy to have a conversation with eye on cue to talk about quantum compute.

At the same time, at the Chicago Quantum Summit, was talking to a completely different set of people that were on the algorithm side, talking to them about 63 and seeing if they were interested in partnering on one of the challenges because they happen to have a very deep expertise in that area and know all of the people that would potentially license it. And we didn't talk about quantum compute at all. It was all about quantum innovate. so it really does, it really makes it so much more crystallized in terms of

of like, talking to investors, talking to quantum people, et cetera. But let's dive into some of the quantum stuff that we did last week. I went to three events. literally landed at like 1 AM last night. I'm kind of on like fumes and coffee this morning. But I had the privilege of speaking at the Quantum Developer Day, which is a QBraid event, live streamed. I know a few of you guys were on it.

checking it out, was like on a Sunday, so that's pretty amazing. This was the first time that we talked very publicly about both qBitTensor Labs, about open quantum, and about bit tensor. And you know, the reaction was good. In fact, you know, I had everybody from like,

have sort of come down a little bit. Now that said, I'm still very careful to never say cryptocurrency in those worlds. And if you do, you sort of get like, you they look at you side-eyed for sure. At this event,

This was, so day one was the developer day. Day two was the Quantum Summit and that was opened up by JB Pritzker, the governor of Illinois. And one of the things he said that I thought was really exciting was, mean, like, obviously they're trying to attract companies to Chicago, right?

But you know is really focused on the fact that research institutions alone were totally insufficient like Chicago happens to be this place where it's like you got the University of Chicago you got Argonne National Labs you got Fermi labs you got like all of these just like I mean they literally invented like Nuclear fusion at the University of Chicago under the football field, you know, there's such a rich quantum history there and they're just really excited about like

adoption by companies. so yeah, that was, I thought, I thought really interesting. We also had Celia, who is the executive director of the QEDC. She's one of the people who recently testified before Congress about quantum. And on her list of bottlenecks, note that she calls out.

Also, I grabbed a shot of this slide. This is Hanhee Park, who is the Director of Quantum Algorithms at IBM. Obviously, everybody thinks that they're going to get quantum advantage in the next, call it three to five years. So there's nothing unique about that quote. But what I really like about this is actually this slide. This is the first time I've seen somebody collate all of this information together into one chart.

which shows the number of IBM systems that have been deployed worldwide.

But then they also show it for all of the other competitors, right? So I said IQM is one of the ones that we have on our system. Rigetti is one of the ones that we have on our system. D-Wave is actually an annealer, not like a gate-based quantum computer. we probably wouldn't be bringing D-Wave on, at least not in the short term. IonQ is on. And so you can see that, you know, we essentially have, yeah, three of the top five quantum computing companies by the number of computers deployed on the system.

which is really cool.

And then the next day they talked about, you know, hundreds of millions of dollars of cash infusion from the federal government and to some of the quantum research centers. And so I bet he wished he was speaking like one day later so he could have spilled the beans on those things. And then after all that time in Chicago.

We jumped on a plane to New York where NYU gave us a tour of their quantum labs. So up here, this is what people tend to think of quantum computers looking like. This is actually not a quantum computer up in the top right. This is a replica that's in the Chicago O'Hare airport. So that was like the last thing I saw before leaving Chicago was like, know, the quantum computer front and center, everybody taking selfies with it. Kind of awesome. And then fly into New York just to jump into what

a lab with real quantum computers and this is more of what I tend to think quantum computers look like over on the left hand side. You can see that behind this group photo on the left and the right of them there are two dilution refrigerators with the chandeliers that look like this inside of the dilution refrigerators. Now in this case this is a lab so they're using these to essentially like test qubit, you know they're trying to invent new qubits and test them. So they're usually not using these types of systems for like actual

running quantum circuits on a quantum computer, but this is sort of like the earlier technology readiness level when you're inventing new technologies for qubits and you're trying to test them out and profile them. After that tour, we got to head over to Google's headquarters where they sponsored us for two days to meet with the QEDC, which is sort of like the United States National Quantum Consortium.

within the next couple years of being truly game changing. Okay, but my favorite part about this whole trip was they packed us up onto a bus and we headed upstate to IBM's Quantum Research Center.

beautiful spot. is Jay Gambetta, who's actually a fairly famous personality in quantum. he was actually he was he gave an amazing presentation made me actually pretty bullish on IBM. Typically, they their marketing is kind of like, a little bit fluffy a lot of times. And so sometimes for me, I get more bullish about the like smaller companies, but

these guys really got me pretty convinced that they're on the right track. But one of the things he said that I thought was just like really honest and strange and true was he said, I would hate to be in the position of having a fault tolerant quantum computer and not having anything to do with it. And what he was sort of alluding to there is that a lot of, know, in fact, I saw it like a.

Neuromancer I saw on some forums right kind of being like there's nothing you can do with the quantum computer and he's not like That's not necessarily true, but that's also not necessarily not true like in quantum computing We have all of these like crazy Concepts a lot of them are Hypothesized to provide exponential speed up a lot of them are only hypothesized to have like quadratic or polynomial speed up but

you know, we don't actually really know. And so that sort of speaks again, very much to like the opportunity that we have to have an impact on the quantum industry, because by making quantum computing accessible to lots of different people from lots of different walks of life, we're going to see a lot of smart people trying to do a lot of smart things on quantum computers. And we'll make sure that we have the we have the right applications ready when IBM cranks out their big systems.

And so a couple photos from there. This is IBM Quantum System One. interestingly, this has talking to like...

some of the IBM guys and I was poking fun at like how shiny this dilution refrigerator was. And I was like, did you guys have to like commission a special dilution refrigerator just to get it like, you know, this pretty stainless steel? And they said, that's just a veneer. Actually, there's like a dilution refrigerator inside of that. And then the designers built this like case that goes around it. And then they hide a bunch of like wiring and stuff inside of that. And then behind the wall here are like traditional racks that have a lot of the other control systems. So if you like walk around the

system, you know, actually looks like you're in just like an IDF room or something. And so, yeah, inside of this, you can imagine that there's a dilution refrigerator and then a chandelier. Yeah, go Ryan.

Between between this and Helios, it's like it looks so clean But then it's like you kind of to see the innards at the same time So I wonder if they're gonna you know, I remember remember those old Nintendo 64 controllers that were see-through like maybe someone will come up with a nice case that you could still kind of see what's good, know, see the what's going on behind the scenes, so

you know, close to zero millicolvin, they'll tend to have like see-through panels for some of those things, but the stuff that they have to get that cold, they sort of can't. So one of the cool things IBM does though is they have sort of like a lot of pictures and diagrams to sort of show you what the guts look like. And in this case, you know, again, this is what's really here. This is a picture from a different section. It's actually real guts of a different system.

but then they sort of call out all along it what the different sort of elements are inside of it and what they do so you can sort of understand what's in there. But yeah, if you think this looks sexy and you thought Helios looks sexy, the system too, sort of looks like a high-end refrigerator. I feel like I could just go crack it open and get a beer or something. Yeah, why don't they put any lights on it? Come on, man. Like we need some, yeah.

Yeah, this more blinky. Come on.

crazy systems that like have to like constantly be like pumping helium in. And so it's like, you know, this very distinctive noise that you hear in like every quantum lab as you walk around it. And one of the things I thought was equally interesting, I actually asked him if I could share this because like, I figured this might actually be confidential, but on the screen back here, they are rotating a bunch of different information. And so like here was a moment of it.

IBM, I don't think they say this, but it's on their screen and they said I could share a picture of it. 3.6 trillion quantum circuits they have executed. That's way more than I would have thought. Thought that was totally wild. They also did say that like, you know, they run all of these different systems. They said they always have a line. You know, like the IBM systems never don't have a line. They also said that they essentially don't run

quantum systems that have fewer than 100 qubits anymore, which is pretty interesting. That being said, well, it's very cool. And those are kind of like top of the line. There's actually a huge amount of value in just running on systems with 20, 30 qubits.

Okay, but then while we were there, I couldn't even keep up with it. I had to have like a team at the office, you know, keeping up and collating all the news. IonQ announced financial results. They doubled their revenue. D-Wave put out financial results. They doubled their revenue. D-Wave also said within the next year, they're going to be profitable. D-Wave again is an annealer, which is like a subset of quantum computing, but it's a very useful subset of quantum computing. So you can't do as many things, but you can do optimizations.

Nvidia announced a brand new program that they have to like do high speed interlinks between GPUs and quantum computers and that was in Jensen's keynote. So like now quantum holds like some of the most valuable airtime you can get. know, Google put out their quantum echo stuff, which is going to be super relevant to the way that we've been talking about doing fingerprinting quantum echoing. It's just this new novel approach of basically ensuring that

like in a classically verifiable way that a quantum algorithm appropriately executed. You know, lots of just really exciting things going on. Quontinuum. So we had said in the last qBitTensor Labs live that Quontinuum had pre-announced that this year they would be launching a 50 logical qubit system. They launched it. Helios is now live. It's sort of private beta. mean, like they don't use that term, but that's essentially what it is. So.

If you have the right handshake and you're willing to pay the right dollars you can get access to it. They have not put it out for the broader community yet, but it's out there. IonQ announced through their acquisition of Oxford Ionics, know, very much increased to cubic gate fidelity, which is quite amazing. I mean, it's just it's been an intense, an intense couple weeks for Quantum.

Even Elon Musk seems to have come around and thinks that we need to put quantum computers in the dark shadows of craters on the moon, which is actually weirdly kind of a good idea. Like I hate to admit it, but actually kind of a good idea, especially if you had a fleet of robots that could operate it. So yeah, I've been an insane time. We'll hit up community and Q &A. Thank you all for submitting questions ahead of time. A lot of the items that are in here, I think we covered already, but let's just hit it up to make sure.

In addition to like accepting terms of use and everything you actually need to enter the country that you're coming from that is for export controls. So we track where the quantum computers are and where the users are and then there's like different restrictions for who can access what. In the US we call these ITAR like ITAR restrictions. There are a number of countries that we can't provide access to legally. We would be breaking the law if we did. But there are also

plenty of countries that we can support this. So good call out whoever is on this. We're on it.

Shine Tangerine, I'm guessing that's Quantum Tangerine. Did change your name again? This question says, yeah, this is about how long we're gonna be in each of these stages of Open Quantum. We had answered that one a little bit earlier. The plan is to have it in Open Beta mid to late November and then to launch it in December. And...

The December launch will be aligned with a quantum event that we will be at and that we will not only be at with a booth, but also presenting at that conference. We don't want to say the date because we sort of hate to sell the news thing that happens sometimes, but I'm sure people will be able to figure it out when they put all of those data sets together. what was the other question here? Yeah, okay.

Ah, okay, and then, uh, tenserized. So, tenserized, you guys are awesome. We, we, we love you guys. We know that you mind 63, uh, aggressively. They were looking for the status of Shores. So, we were originally planning on launching, uh, challenge number three, the Shores circuit in the phase one concept of subnet 63. We're going to be rolling that into the phase two concept. So, instead of doing it as like, you're constantly executing Shores algorithm on GPU.

Instead, we're going to create a different challenge that is centered around advancing Shores. So Shores algorithm for y'all, that's the one that everybody's afraid is going to break Bitcoin and break RSA 2048. I don't want to divulge what the initial challenges are going to be, but again, we are trying to drive advancement in quantum and create IP that is licensable.

And so you can imagine that this won't simply be executing Shor's circuits, but will be a tiny bit more involved than that to see, you know, who can tune it and iterate on it and innovate on it. So all the work you've done will pay off. We think there's going to be a good opportunity for you guys to make a lot of money. We look forward to seeing what you guys do in the next manifestation of 63. I think you're going to rock it.

Okay, next question is, can we have an update on the credit system? Yes. Okay, so this question for anybody who doesn't have the context is inside of open quantum, while we try to keep it very much crypto hidden, we do give the ability to link to a BitTensor wallet. We do that because if you stake,

both appreciation and through APY. But yeah, the question here is what do we do if we have money staked but we don't necessarily want to use quantum compute? So I will say we have not looked at the idea of transferring or reselling credits, which I assume is kind of what you're getting at there. I think that's a really interesting idea.

We'll have to, yeah, I wish I had a more concrete answer for you on that one. All I would say today is that we have not yet explored the idea of transferring or reselling those. It would feel to me like the idea of like transferring credits would feel very tangible. And then if somebody were to monetize that outside of the ecosystem, you know, maybe that might be an appropriate balance to draw there.

But yeah, no promises on that one. We've got to figure that out. And then, okay, the last question is kind of general high level. I like it. It says, someone could put a list of questions from us on Discord. Okay, so this is probably like talking more internally, but my guys grabbed it because there were a couple of good points. Our credits we hit. IP plan we kind of hit. So IP plan is again, the way that 63 monetizes and how it creates a virtuous cycle.

is by these challenges which require the miners to submit source code. They can win if their source code performs better against the documented criteria than the previous winner. And we then, but by submitting that code, they are assigning us the permission to license that content. So they are compensated through the reward pools that they unlock.

you know, probably a GPL license, possibly an a Feral GPL license, but essentially like a license type that normally corporate America doesn't want to operate with because it's this license where if you use it or if you innovate on it, you are also required to then open source your modifications. Corporate America hates that, right? So, in the open source world, we would license it that way, but we would dual license it so we could also license it

using a corporate license and relieve them of all of those obligations. And so the way that we would be able to do that is all of the miners will end up submitting their applications through Open Quantum. When they do that, they would click through an agreement that assigns permission for us to do that. And again,

Their compen- the miners compensation comes from unlocking the reward pool. And then we try to monetize it on the other side. But you know, the specific commercial deal structure doesn't exist yet because we haven't generated any of that IP yet and we haven't licensed it. So there's layers to get through there. But good question.

of why this new incentive mechanism is sort of like driving us to do that more aggressively. JB, good call. If you haven't done the math on that, do the math on that. It should look pretty awesome, especially while we're building those pools and not actually issuing them. Yeah, okay. I mean, yeah. So I'm have to give like Omar kudos, because this is just like a whole bunch of nice stuff people are saying about us. So thanks for that. All right.

I think that's it for today. yeah, again, kind of a crazy world. BitTensor is moving fast. Quantum is moving fast. We are moving fast at QBitTensor Labs. You are moving fast as investors. And I think we've got just a really exciting time ahead of us. Both of these subnets are really well positioned in the new system, and especially with the releases and the updates that are coming out. And so thank you all for being with us on this journey. And we really look forward to.

Continuing to see you guys online. Until next time.