What is Quai Network?
With the aim of bringing convenience to millions of users in the Web3 space, Quai Network has introduced Proof-of-Work 2.0, a revolutionary consensus mechanism that allows it to process more than 50.000 transactions per second. This helps to solve the problem of transaction speed and the time it takes for a transaction to execute.
In addition, Quai Network offers almost limitless scalability via sharding technology that allow the network to scale horizontally as demand increases. This enables Quai to support low-cost day-to-day transactions as the user-base grows in perpetuity.
Quai Network’s highlights
As mentioned above, Quia Network will provide users with a fast and seamless trading experience. So, the combination of POW 2.0 and Sharding is essential to do this.
Sharding
For those who do not know what sharding is, it is the process of splitting a database horizontally to spread the load – a common concept in computer science. Sharding reduces network congestion and increases transactions per second by creating new chains, called “shards”. With shard chains, validators only need to store/run data for the shard they are validating, not the entire network.
Proof of Work 2.0
This PoW upgrade of the Quai Network combines Blake3 hashing with core protocols. This not only saves energy but also helps to increase speed while maintaining high security.
Quai Network’s revenue
Quai Network generates tokens in its network. These tokens can be used in applications based on Quai Network or traded on crypto exchanges. Quai Network also has an independent system to reward nodes that participate in the network and contribute to the transaction confirmation process.
Quai token
Name: Quai
Ticker: QUAI
Distribution:
- Adoption Incentives: 25%
- Mining: 20%
- Foundation: 15%
- Strategic Partners: 15%
- Infrastructure Partners: 5.5%
- Founders: 5%
- Bounties: 5%
- Testnet Incentives: 0.5%
- Contributors: 4%
- Community: 3%
- Exchange Liquidity: 2%
Investors
Quai Network has attracted attention and investment from many reputable investors and partners in the blockchain industry. The support from these investors and partners not only provides funding but also opportunities for Quai Network.
Quai Network has raised a total of $10M in funding over 2 rounds from funds such as Polychain Capital (USD 8 million) and Alumni Ventures (USD 2 million).