Welcome to the eighteenth 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
“We’re excited to be working with the Dominant Strategies team to add support for Quai Network on Curvance in the near future. It’s not every day that a brand-new DeFi ecosystem starts forming around new and innovative tech like Quai, and we’re happy to be bringing omnichain composability to the DeFi community on Quai.”
- Chris Carapola (@0xMai), Co-Founder of Curvance
In this quote, Chris, a Co-Founder at Curvance, shares their team’s excitement to be an early builder in the fast-growing Quai Network DeFi ecosystem.
By being able to connect with the other early DeFi builders on Quai, Curvance (and other DeFi protocols on Quai) are able to coordinate and compete to create a completely new DeFi ecosystem that focuses on addressing the needs of users with Quai Network’s uniquely scalable architecture.
Technical Term of the Week
DeFi (Decentralized Finance) – A term that refers to the use of blockchain technology and cryptocurrencies to recreate and improve upon traditional financial systems such as banks, insurance, and asset management.
DeFi is an incredibly broad term that is used frequently within the crypto space. At its core, DeFi (or decentralized finance) is the use of blockchain/cryptocurrency technology to improve upon the systems of traditional finance.
The most common (and simple) examples of DeFi in practice are swaps between tokens in DEXs (decentralized exchanges). Unlike in traditional finance markets, users are able to swap between tokens at a market-set price without trusting any third parties. Through the use of automatically-executing smart contracts and liquidity pools, users are able to buy, sell, and trade on-chain tokens without relying on a bank, exchange, or order book.
The term “DeFi” encapsulates much more than just swaps and tokens. Projects like Curvance, for example, are bringing the massive lending market of traditional finance on-chain. By using on-chain assets as collateral and using smart contracts to define and enforce the conditions of the loan, lenders and borrowers can interact in a previously impossible trustless and transparent way.
Top Posts of the Week
- A recording of the Quai Friday call with Curvance was posted:
- A discussion of NFT projects on Quai:
- Quai Network is an official sponsor of Permissionless 2023:
- A Quai Network side event will be hosted at Permissionless:
- The August Developer Roundup was posted to the Quai blog:
Upcoming Events
Quai Network Office Hours with Max: September 14, 2023 @ 9am CST – Join Dominant Strategies team member Max for a casual discussion/AMA on Quai Network’s technology.
Quai Friday Twitter Space with Koala Wallet: September 15, 2023 @ 11am CST – Join members of the Dominant Strategies and Eucalyptus Labs teams for a discussion on how Koala Wallet is integrating with Quai Network!
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.
Terms & Conditions / Disclaimer
The entirety of the Quai Genesis grants program, including the content of this article, is subject to the Terms and Conditions outlined here.
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.