While most of the new projects being launched these days are focusing on PoS (Proof of Stake) or being developed as Layer 2 solution on Ethereum, I recently came a cross a project currently in testing phase that is a Layer 1 solution built on PoW (Proof of Work) using merged mining.
Just like the original PoW blockchain of Bitcoin their key focusing on ensuring truly decentralised money for everyone. Probably that is the reason why they chose QUAI as their name which in Mandarin means money.
With so many new projects being launched these days it is not possible to keep track of all of them actively. After going through the information QUAI has shared through their blogs I decided it was worth adding to my watchlist and follow actively.
In this post I will cover what makes QUAI unique and different other blockchain projects, how does it plan to improve upon the original PoW model developed by Bitcoin and overcome the challenges of transaction processing times. I will also cover why I think it is a good time to get involved with QUAI as the early adopters who support the network during testing phase will be well rewarded during the main net launch which is already envisioned in their tokenomics.
What makes Quai Network Special?
Most PoW blockchains suffer with low throughput rates which causes the network to jam when high number of users are using it at the same time. QUAI plans to overcome this challenge by incorporating a 2-Tier structure across 1 Primary Chain, 3 Region Chains (Cyprus, Paxos, Hydra) and 9 Zone Chains. The Zone chains will handle the basic routine transactions like approving a contract so it does not clog the main chain.
As you can see in the 3X3 hierarchical architecture below it will help the network scale up and even allow for addition of more chains in an ad-hoc manner if required.
Prime chain will focus on aggregating and will use memory intensive hashing algorithm. The Region chain is where the miners will operate for rewards. The Zone chains will have high throughput to output a new block every 10 seconds.
Focus on Extensive Testing before Launch
Most blockchains have 1-2 devnets or testnets before the mainnet launch but QUAI has provisioned 5 rounds of testing prior to their official launch of mainnet.
The following 5 testnets are part of their development blueprint:
Stone Age
Bronze Age
Iron Age
Golden Age
Silicon Age
Of these Stone Age and Bronze Age rounds of testing have already been completed and Iron Age commencement has just been announced. I think Silicon Age will happen quite close to the mainnet launch.
I think Iron Age is the right time to get actively involved with the QUAI as many applications and NFT projects have already announced that they will be building upon QUAI. Be prepared to see QUAI Punks and QUAI Kids being minted and try to get your hands on a few as part of giveaways that will be happening soon.
Social Media Rewards Program
Now I will come to the most interesting part of this post which is the rewards program QUAI has launched for early adopters. Most blockchains do not disclose their airdrop criteria before launch and it usually comes as a surprise once the mainnet goes live. In the case of QUAI they have created a detailed dashboard where you can already see the tokens you are earning as part of their Social Media Rewards program and these tokens will already be linked to your account and you can claim them once mainnet is active. This is just the social media part linked to your activity on platforms like Twitter, Youtube and Reddit. There can be additional rewards if you are active during the testate phases.
Currently their token faucet is not active but I think it will soon be activated once more applications are deployed on QUAI and they need users to test them out for the functions.
I will be closely following the project and will probably do a follow up post once the Iron Age testnet gets completed.
Cheers,
Sam
