Welcome to the twenty-ninth 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 announce the Quai Network Iron Age Testnet Developer Bounty Program!
Launching NOW, this program offers incentives for solo devs and development teams to deploy certain types of projects on Quai, driving the improvement of the development ecosystem surrounding Quai.
Learn which bounties are available and how to participate in the Quai blog.
Bounties are distributed based on which projects are the first to complete the requirements and submit. The race is on! 🏃”
This past week saw the launch of the Iron Age Testnet Developer Bounty Program, offering bounties in Mainnet Quai tokens for the creation of smart contract projects that fulfill certain requirements.
The bounty program has been divided into two phases – the first phase, which has already begun, will incentivize the first three DEXs, the first three NFT Marketplaces, and the first 10 other miscellaneous smart contract applications. After the winners of Phase 1 bounties have been determined, an announcement will be sent to kick off the start of Phase 2. Phase 2 will incentivize developers to create NFT collections and QRC-20 projects and make them tradable on the NFT Marketplace(s) and DEX(s) built in Phase 1. Once Phase 2 has begun, the first 15 NFT collections and QRC-20 tokens to meet the stated requirements to be deployed will also receive a bounty.
Because the bounties are almost exclusively time-based (which projects that meet the requirements deploy first), moving fast is essential if you’re looking to win a bounty. While DEXs and NFT Marketplaces are taking a period of development to be built in a manner that fulfills the requirements, Phase 2 bounties will be much faster – a number of QRC-20 tokens and NFTs have already been deployed to the Testnet, so you’ll want to be quick with your submission to Phase 2!
Technical Term of the Week
Sister Contracts (Quai Network) – A “sister contract” in the context of Quai Network refers to a type of smart contract that is linked to contracts deployed across other chains within the network. Sister contracts are groups of independently deployed contracts that are interconnected after deployment, and can communicate with each other seamlessly.
Sister contracts are integral to allowing developers to create applications that span multiple chains within Quai. A sister contract is a smart contract deployed within one chain of Quai Network’s multi-threaded architecture that is linked to contracts deployed on other Quai chains. Each sister contract exists on a single chain, and contains references to other smart contracts in alternate contexts, which are deployed on different chains within the network.
By using sister contracts, developers are able to create a network-wide “mesh” of smart contracts that all interlink with each other. These interlinked smart contracts can be used to create decentralized applications that function on multiple or all chains within Quai Network.
Unlike most multi-chain systems where decentralized applications are siloed into disparate chains/contexts, Quai Network’s uniquely intertwined chain architecture enables these applications to access users and liquidity from all contexts simultaneously.
Top Posts of the Week
- A Quai Friday call was hosted to discuss the new Iron Age Testnet Developer Bounty Program:
- Dominant Strategies CTO Dr. K released a thread on Henry Ford’s concept of energy-money, and how it will come to fruition within Quai:
- A collaboration between Flux and Quai Network has been announced on Twitter:
- The Quai documentation has officially been open-sourced:
- Dominant Strategies CTO Dr. K expanded on his post about Henry Ford’s idea of energy money with a post about how Thomas Edison shared similar goals:
Core Protocol: Office Hours w/ Judi & Wizeguyy: December 12th, 2023 @ 10am CST – Join Dominant Strategies team members Justin and Wizeguyy for a casual discussion on smart on the core Quai protocol.
Technical Open Forum w/ Dr. K: December 13th, 2023 @ 11am CST – Join Dominant Strategies CTO Dr. K for a community-centric discussion on technical concepts within Quai. Come prepared with technical questions and topics you’d like to discuss!
Smart Contracts & Wallets: Office Hours w/ Max & Jonathan: December 14th, 2023 @ 9am CST – Join Dominant Strategies team members Max and Jonathan for a casual discussion/Q&A on smart contracts and wallets in Quai Network.
Quai Fridays Twitter Space w/ Quai Community Devs: December 15th, 2023 @ 10am CST – Join members of the Dominant Strategies team and a variety of developers working on projects in the Quai community for a discussion about developing on Quai!
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.