What is Quai Network?
Quai Network is a new design to create radically more efficient blockchains. Our solution relies on revolutionary advances in blockchain sharding technologies and the use of Proof-of-Work 2.0. Because Quai Network is modular, it can scale horizontally to accommodate more users as the network grows. By making huge strides in overall blockchain scalability, Quai Network paves the way for the next billion users to participate in Web3.0.
With ever-increasing demand, traditional Layer 1s are struggling to provide adequate scalability – resulting in high fees and centralization. By providing an innovative and scalable multi-chain solution, Quai Network is the first decentralized blockchain that can truly scale for worldwide adoption.
The word Quai derives its origin from the word kuai (块 – kuài). "Kuai" is a colloquial measure word for money, like "quid" in the UK and "buck" in the US, but it is the word used in everyday Mandarin. The use of the word "kuai", literally means "piece", and is the word used historically for coins made of silver or copper.
An example usage of the word kuai is "10 kuai qian", which literally means "10 pieces of money".
With 13 blockchains running in unison, Quai Network offers high-speed block production. The Prime chain has an approximate block time of 15 minutes, Region chains have an approximate block time of 5 minutes, and Zone chains have an approximate block time of 10 seconds. With all of these chains producing blocks asynchronously, Quai Network’s average block time can be approximated to be a block every ~1.1 seconds.
Enhancing a blockchain’s speed is meaningless if decentralization is sacrificed in the process. Through the development of Proof-of-Work 2.0, which utilizes both merged mining and sharding, Quai Network remains highly decentralized and open-source.
Through the use of merged mining and coincident blocks, all Quai Network state changes are eventually confirmed by 100% of the network’s hashpower.