- Quai Network is a layer 1 network of blockchains that uses merging to achieve high throughput.
- Recently, Quai Network has partnered with Structure.fi, a mobile-first financial platform.
The layer 1 network of blockchain Quai Network ($QUAI) alarmed crypto enthusiasts by intending to utilize multiple blockchains operating in parallel and secured by merged mining to achieve over “50,000 Transactions per second (TPS).” The network uses Proof-of-Work (PoW) 2.0 and sharding technology to achieve high throughput.
The Quai Network is supported by its native token $QUAI. And the EVM-compatible blockchain is in Iron Age, the third public Testnet. That is about to launch and will allow users to interact with and test the network in exchange for Quai tokens. Also, the network offers a rewards program on several social media sites. Including Twitter, YouTube, and Reddit, to encourage early community engagement.
Quai Network Developments
As an EVM-compatible network (Ethereum Virtual Machine) Quai will enable payments, decentralized applications, NFTs, and smart contracts in a cost-effective environment. The modularity of the next generation of blockchain technology would achieve limitless scalability by utilizing Proof-Of-Work 2.0, merged mining, and sharding.
Further, Quai Network seeks to enable quick block generation with its 13 parallel blockchains. The Prime chain has a block duration of roughly 15 minutes, Region chains have a block time of 5 minutes, and Zone chains have a block time of roughly 10 seconds. And the average block time is estimated to be 1.1 seconds.
Moreover, recently Quai Network has announced a long-term strategic partnership with Structure.fi, a mobile-first financial platform. That provides investors with seamless access to both traditional and cryptocurrency markets. Also, the Crypto and Stock Trading App will list $QUAI token to support the Quai ecosystem.