Welcome to the seventeenth edition of “This Week in Quai,” an initiative by the development company of Quai Network, Dominant Strategies. This Week in Quai offers weekly updates to the Quai Community by aggregating popular Quai quotes and social posts from the past week and offering a schedule for upcoming events.
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What is Quai?
Quai Network is a pre-launch cryptocurrency. Quai is the first blockchain protocol that is simultaneously decentralized, censorship resistant, and infinitely scalable. Quai, in contrast to traditional cryptocurrencies, functions as a network of many interoperable blockchains braided together. Due to a breakthrough discovery that occurred during research on Proof-of-Work, Quai Network utilizes a new consensus mechanism, Proof-of-Entropy-Minima (PoEM), which eliminates all consensus-based forks, and enables all Quai nodes to remain in “perpetual consensus.”
Quote of the Week
“Eucalyptus Labs is proud to announce upcoming support for Quai’s Iron Age inside Koala Wallet on mobile and desktop devices!
Too long wallets have focused on locking funds, instead of helping users unleash their value. Never compromising on security and privacy, Koala is changing the game and we can’t wait to demonstrate the power of Quai’s new tech at the dawn of the Iron Age.
- Koby Lazar, CEO of Eucalyptus Labs
In this quote, Eucalyptus Labs CEO Koby Lazar announces that the Koala Wallet will be supporting Quai Network in the upcoming Iron Age Testnet. Koala is a multi-chain wallet that currently supports Kadena and Ethereum, with hopes to add many more networks moving forward.
With the Koala team’s specific experience working with multi-chain architectures like Kadena, our team at Dominant Strategies is excited to be working with them to add support for Quai Network.
With Pelagus Wallet, a fork of the TaHo Ethereum wallet, still planned to be available during Testnet, users will have the opportunity to try out multiple different wallet UIs and pick their favorite.
Technical Term of the Week
Opcodes – The “operation codes” or instructions that the EVM can execute. Each opcode has a specific function, such as arithmetic operations, data storage and retrieval, and also has an associated “gas cost.”
Opcodes are an essential part of Ethereum’s programmability, and are also used within Quai Network’s EVMs. The EVMs used in Quai Network have a few additional opcodes that have been implemented to allow for trustless cross-chain transfers. The two opcodes that have been added are IS_ADDR_INTERNAL and ETX.
The IS_ADDR_INTERNAL opcode can be used to determine if an address resides in the same chain as a contract. This is useful for determining whether an interaction needs to be an ETX. For example, if a Zone 1 address attempts to request funds from a Zone 9 contract, the Zone 9 contract can use the IS_ADDR_INTERNAL opcode to know that the contract must use the ETX opcode to emit an external transaction that goes to Zone 1.
The ETX opcode is the most important change made to the EVMs within Quai Network. The ETX opcode is used to emit external transactions, which are transactions that go from one Zone chain to another. External transactions, unlike cross-chain transactions between other blockchains, are completely trustless and only rely on the same set of miners producing blocks to process cross-chain transactions.
Top Posts of the Week
- With multiple wallets planning to support Quai’s Iron Age, users will get to choose which one they prefer:
- Be sure to check out the updated rewards program in Galxe:
- 8 million Quai tokens have been allocated to Iron Age Testnet mining rewards:
- An article has been posted explaining the Quai hierarchy, header chains, coincident blocks, and cross-chain transactions:
- A video demonstrating the first cross-chain transaction on Quai was posted:
- 1.45 million Quai tokens have been allocated to DeFi incentives during the Iron Age:
- A Twitter Space with Curvance has been scheduled for Friday, September 1st:
Quai Network Office Hours with Justin: September 5, 2023 @ 9am CST – Join Dominant Strategies team member Justin for a casual discussion/AMA on Quai Network’s technology.
Quai Network Office Hours with Max: September 7, 2023 @ 9am CST – Join Dominant Strategies team member Max for a casual discussion/AMA on Quai Network’s technology.
Quai Friday Twitter Space with IceCreamSwap: September 8, 2023 @ 11am CST – Join members of the Dominant Strategies and IceCreamSwap teams for a discussion on how Quai Network fits into IceCreamSwap’s multi-chain DeFi ecosystem!
Join us to build a better blockchain.
Quai Network is an open-source Proof-of-Entropy-Minima blockchain network utilizing the capabilities of merged mining to increase throughput and security. Users of Quai Network will enjoy fast transaction times without compromising decentralization and security. Miners will have competitive mining opportunities across the many blockchains within the network.
Capable of thousands of transactions per second, the Quai Network is a new solution to scalability that is soon to be ready for mainnet release.
Opinions, ideas, and statements shared in this update are delivered with numerous assumptions, risks, and uncertainties which are subject to change over time. There are multiple risk factors, including those related to blockchain, cryptographic systems, and technologies generally, as well Quai’s business, operations and results of operations, that could cause actual results or developments anticipated not to be realized or, even if substantially realized, to fail to achieve any or all of the benefits that could be expected therefrom. We reserve the right to unilaterally, completely, or partially change plans, expectations, and intentions stated herein at any time and for any reason, in our sole and absolute discretion, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. ACCORDINGLY, WE RECOMMEND THAT YOU DO NOT RELY ON, AND DO NOT MAKE ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS UPDATE OR ANY OF OUR UPDATES/ARTICLES — INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF QUAI TOKENS, ETHER, OR ANY OTHER CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN, OR THE SECURITIES OF ANY COMPANY.
The views, opinions, and statements made in this update are those of an individual author and not those of any institution, University, or legal entity operating within the jurisdiction of The United States or beyond. There is no association between these views, opinions, and statements and any for-profit or non-profit entity, particularly with Universities, Foundations, and other Agencies located within the United States. Any perception of such an association is purely accidental, and will be rectified immediately if brought to our attention by the reader.