Quai Network emerges as a groundbreaking solution to blockchain scalability issues while maintaining traditional Proof-of-Work advantages. Developed by Dominant Strategies, the platform promises to deliver the needed scalability for global commerce without compromising decentralization.
Foundation and Vision
Quai Network's journey began in 2019 when a team of technologists, including Alan Orwick, Jonathan Downing, and others, founded Dominant Strategies. Their vision was solidified with the publication of their whitepaper in December 2021. The project has drawn significant VC interest, securing $15 million in funding from notable firms like Polychain Capital and Alumni Ventures.
Architectural Innovations
At the core of Quai Network is a revolutionary scalability approach involving a hierarchical architecture, underpinned by the Proof-of-Entropy-Minima (PoEM) consensus mechanism. This allows for transaction speeds exceeding 50,000 per second at minimal fees.
Economic Model and Tokens
Quai Network's economic model is based on a dual-token system: QUAI serves as the main utility token with a deflationary issuance model, and QI functions as a stable asset for real-world transactions. Both tokens contribute to the sustainable economic growth and functionality of the network.
Quai Network signifies a major advancement in blockchain technology, offering a unique blend of scalability, security, and economic innovation, making it a promising project to watch in the evolving blockchain landscape.
