  We study the adaptation dynamics of an initially maladapted population
evolving via the elementary processes of mutation and selection. The evolution
occurs on rugged fitness landscapes which are defined on the multi-dimensional
genotypic space and have many local peaks separated by low fitness valleys. We
mainly focus on the Eigen's model that describes the deterministic dynamics of
an infinite number of self-replicating molecules. In the stationary state, for
small mutation rates such a population forms a {\it quasispecies} which
consists of the fittest genotype and its closely related mutants. The
quasispecies dynamics on rugged fitness landscape follow a punctuated (or
step-like) pattern in which a population jumps from a low fitness peak to a
higher one, stays there for a considerable time before shifting the peak again
and eventually reaches the global maximum of the fitness landscape. We
calculate exactly several properties of this dynamical process within a
simplified version of the quasispecies model.
