Quai Network ($QUAI) Token Airdrop LIVE: Earn $2000 for Free

Hunting for crypto airdrops is a great way to make free money. Some people have made as high as $10,000 from the Aptos token airdrop. If you missed it, Quai Network is another upcoming project with airdrop qualifications happening right now. Let’s take a look at what Quai Network is and what you can do to receive their token airdrop before it’s too late!

What is Quai Network?

Quai Network is a decentralized network of multiple proof-of-work (PoW) blockchains running in unison. These blockchains have native interoperability, allowing for cross-chain transactions and messages. It is also fully EVM compatible, allowing any Solidity contract to be ported and deployed.

Quai Network provides a novel approach to blockchain scaling, different from parallel processing chains such as Aptos and Sui. It aims to maximize the energy efficiency of PoW by introducing the concept of modularity.

Proof-of-Work 2.0 (PoW2)

Quai Network sought to improve upon the PoW consensus mechanism by addressing its environmental concerns. For the longest time, Bitcoin’s PoW algorithm has been infallible, but it also consumes massive amounts of energy. And it will continue to rise as mining difficulty increases after every Bitcoin Halving event. This is why Ethereum switched to proof-of-stake (PoS).

But Quai Network believes that PoS is inherently centralized due to the amount of money it requires to be a validator, creating a gap between the validator “class” and everyday users. Therefore, Quai Network has introduced an upgraded version of PoW called Proof-of-Work 2.0 (PoW2) where hash power can be reused to secure multiple chains. This is achieved by utilizing a novel combination of merged mining and sharding, reducing computational cost while allowing the network to scale more efficiently.

Merged Mining

Merged mining is the process of securing multiple blockchains with one miner, allowing miners to earn rewards in multi cryptos without having to switch between networks or use additional hardware. It was first conceived by Satoshi Nakamoto in the Bitcoin white paper, in which a completely seperate blockchain could share CPU power with Bitcoin, inheriting the same security and decentralization of Bitcoin without requiring dedicated miners.

Quai Network uses this concept, but instead of having Bitcoin as a parent chain, it has its own parent chain (the Prime Chain) which secures the many other chains beneath it by sharing hashrate. This improves throughput over monolithic chains such as Solana without the need for layer-2 solutions. Moreover, Quai Network is horizontally scalable, which means additional chains can be added to meet network demands. This is possible because of their multi-chain architecture.

Multi-Chain Architecture

Quai Network’s architecture makes use of sharding by dividing a single blockchain into multiple smaller and faster blockchains to improve network performance, similar to Ethereum and Polkadot. Its network is divided into a hierarchical structure of three different types of chains. At mainnet launch, Quai Network will begin with the single Prime Chain, three Region Chains, and nine Zone Chains.

Source: Quai Network
  • Prime Chain

The Prime Chain is at the core of the entire network, utilizing a hashing algorithm that is shared across all subordinate chains (Region and Zone). It aggregates and settles state transitions across the network, which means miners are required to mine the Prime Chain to keep the blockchains functional.

However, it has the highest mining difficulty, which means it has the slowest throughput (one block every 15 minutes). Therefore, it is not ideal for simple transactions and DApp activities. It is mostly for use in situations where the whole network is being addressed and securing the network.

  • Region Chains

There are three Region Chains at mainnet launch: Cyprus, Paxos, and Hydra. These chains have lower mining difficulty, thus a higher throughput than the Prime Chain (one block every 5 minutes). These chains handle lesser network interactions that are not necessary to address the entire network. They can also interact natively on the network, but each require unique mining power. Therefore, a miner can only mine a single Region Chain at a time, in addition to the Prime Chain.

  • Zone Chains

At mainnet launch, each Region Chain will have three Zone Chains under it. These Zone Chains have the highest throughput (one block per 10 seconds) and TPS capacity, making them ideal for regular transactions and contract interactions. As such, most activity on Quai Network will occur on Zone Chains. They are also able to interact with other Zone chains, even those under different Region Chains. But similar to Region Chains, miners can only select one Zone Chain to mine.

  • Coincident Blocks

Coincident Blocks tie the whole hierarchal structure together, linking all chains which enables cross-chain state transfers and periodic pegging of all chains to the Prime Chain’s total work. These blocks allow the entire network to inherit the same security of the Prime Chain, governed by three rules:

  1. All Prime blocks must contain a Region and Zone block.
  2. All Region blocks must contain a Zone block.
  3. Zone blocks can be mined asynchronously without being included in a Prime or Region coincident block.
Source: Quai Network

Basically, a Coincident block occurs when (1) a Prime, Region, and Zone block are confirmed at the same time OR (2) when just a Region and Zone block. Each time a Coincident block is mined, all blocks since the last coincident block are then confirmed by the Region Chain, continuing upwards until the Prime Chain — think of it as a roll call. Therefore, chains lower in the hierarchy can inherit the security of the Prime Chain while still conducting independent activities.

Who is the Team behind Quai Network?

Quai Network is developed by Dominant Strategies, a technology development company based in Austin. The company was co-founded in 2019 by Alan Orwick, Jonathan Downing, Karl Kreder, Yanni Georghiades, and Sriram Vishwanath, all of whom worked together in the Electrical and Computer Engineering department at the University of Texas. They co-wrote and published the white paper for Quai Network in December 2021.

Dominant Strategies has raised $10 million over two funding rounds — $8 million from Polychain Capital in March 2022 and $2 million from Alumni Ventures in May 2022.

Does Quai Network have a Token?

Yes. $QUAI will be used to ensure network security and as an exchange of value in the ecosystem. Their token supply is hard-capped but its total number is not yet determined. According to their tokenomics, 25% is distributed as “adoption incentives”, 3% for “community” and 0.5% for “testnet incentives.” This means token airdrop opportunities for early users of Quai Network!

Source: Quai Network

How to Receive Quai Network ($QUAI) Token Airdrop?

Quai Network has a Social Media Rewards Program that will airdrop $QUAI tokens for engaging with their Twitter, YouTube, Reddit, TikTok, and Instagram. Compared to other projects, this is one of the easiest ways to earn free tokens.

To begin, join their Discord server and follow their Twitter account. Afterwards, you can check your rewards on the Quai Dashboard. If you have a Citizen role in their Discord server, you will have a 1.5x multiplier for your $QUAI rewards. You can obtain it by completing their survey here. It is easy to do if you have some degree of understanding of the project.

From here on out, Quai Network will reward you $QUAI tokens for your engagement with their social media platforms. As of now, only Twitter and Reddit rewards are available. YouTube, TikTok, and Instagram rewards will be available soon.

  • Twitter
  1. Follow Quai Network.
  2. Follow additional team accounts.
  3. Liking and retweeting Quai Network’s Tweets that are less than seven days old (limited to twice a day).
  4. Make a Tweet mentioning Quai Network. Original and insightful Tweets that are liked or replied by Quai Network will grant you additional rewards.
  • Reddit
  1. Make a unique post in their channel (limited to twice a day).
  2. Make a post about Quai Network in another approved crypto-related Subreddit (limited to twice a day).

It is worth noting that your account must have more than 50 post/comment karma, and the post must be approved by their team. Therefore, it will some time for your rewards to show if you make a post on Reddit.

REVIEW OVERVIEW

🔥 Rating

SUMMARY

Quai Network is likely to do a $QUAI token airdrop as there is an allocation for this in their tokenomics. However, there are very few hints or details as to how this airdrop will take place.

The information provided in this article is intended for general guidance and information purposes only. Contents of this article are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur. 
Disclosure: Authors are invested in cryptocurrency projects and have cryptocurrency holdings - including those covered on this website. 

Stay Connected

15,500FollowersFollow
156,664FollowersFollow
268,000SubscribersSubscribe

Latest Articles

Quai Network is likely to do a $QUAI token airdrop as there is an allocation for this in their tokenomics. However, there are very few hints or details as to how this airdrop will take place. Quai Network ($QUAI) Token Airdrop LIVE: Earn $2000 for Free