Quai Network's March Developer Roundup
Notable developments from this month include the implementation of the new PoEM consensus mechanism and the release of a new Quai website.
This March has been an important month for the Quai Network protocol. Notable developments from this month include the implementation of the revolutionary new PoEM consensus mechanism, the release of new websites for both Quai Network and Dominant Strategies, and an incredibly successful sponsorship and side-event at Ethereum Denver.
Core Protocol
Through the process of integration testing and the operation of internal Devnets, issues were identified with head selection and uncle/fork resolution. These issues have been addressed through the implementation of a new consensus mechanism called Proof-of-Entropy-Minima (PoEM). Prior to the implementation of PoEM, head choice was organized by the Hierarchical Longest Chain Rule (HLCR).
The critical difference between Proof-of-Work 2.0 and PoEM lies in what “work” is an how it is measured. While Proof-of-Work implementations measure “work,” an arbitrary value based on a difficulty threshold, Proof-of-Entropy-Minima implementations measure all hash being performed on the system in terms of “entropy reduction.” The reframing of what is being measured in consensus from “work” to a reduction (minimization) of entropy allows all nodes to accurately and instantaneously make the correct head selection by running a single mathematical formula to determine which proposed block has reduced the most entropy.
The formal paper on Proof-of-Entropy-Minma was published by Quai co-founder Dr. K and Dominant Strategies Principal Engineer Shreekara Shastry on March 8th, 2023. Read the full paper here.
Practically, PoEM is expected to significantly reduce the orphan rate of Proof-of-Work systems while simultaneously and significantly accelerating finalization. The initial implementation of PoEM is currently being internally tested by the Dominant Strategies team, and will be included and publicly tested in the upcoming Iron Age Testnet.
New Quai Network & Dominant Strategies Websites
Made in collaboration with Unseen Studio, the new Quai website has been positively received by both the crypto community and wider design world. The Quai website has won an award for Site Of The Day from Awwwards.com and received a nomination for the prestigious CSS Design Awards.
If you haven’t seen the new Quai website yet, make sure to visit at https://qu.ai/.
Dominant Strategies, a development company of Quai Network, has also shared a new website following the release of the new Quai website. The new Dominant Strategies website features a branding rework and explanations of the association between Dominant Strategies and Quai.
If you haven’t seen the new Dominant Strategies website yet, make sure to visit at https://dominantstrategies.io/.
Ethereum Denver
The Dominant Strategies team attended ETHDenver 2023 to represent Quai Network. As a sponsor of the event, Quai Network had a dedicated booth for the duration of the event, and Quai co-founder Dr. K had the opportunity to deliver multiple presentations on Quai. A Quai Network VIP side-event was also held at Meow Wolf, which welcomed hundreds of attendees.
A recap video of the ETHDenver trip was posted on March 14th, offering a glimpse at the Quai booth, Dr. K’s speaker sessions, and the Meow Wolf afterparty.
The official Ethereum Denver YouTube channel has also posted the full recording of Dr. K’s speaker positions at the conference, which can now be publicly viewed.
Consensus 2023
The next stop on the Quai World Tour following ETHDenver is the Consensus 2023 conference in Austin, TX hosted by CoinDesk. Much of the Dominant Strategies team is Austin-based, offering a unique home-field advantage to hosting an event at the conference.
To be the first to know details about the Quai Network event at Consensus 2023, be sure to sign up to the Quai Newsletter by Dominant Strategies.
Ecosystem & Quai Genesis
As shared in a recent Twitter AMA, the upcoming Quai Network grants program will be released as Quai Genesis. The Quai Genesis program will offer support to Quai Network developers in the form of grants, consultation, and access to additional resources.
The Quai Genesis website and application have not yet opened. An announcement will be publicly shared on all platforms when the Genesis program begins accepting applications.
Quai University
With the goal of educating Quai community members on both Quai Network and cryptocurrency at large, Quai co-founder Dr. K has continued to host University Calls every other Wednesday in the Quai Discord. These calls, beginning as an “intro to cryptocurrency,” have now evolved into elaborate discussions on the unique and innovative technologies allowing Quai Network to scale.
Quai University Calls #1 and #2 have been posted on YouTube for public viewing.
Dominant Strategies team members Justin and Max have also begun hosting weekly Office Hours in the Quai Discord on Tuesdays and Thursdays to supplement these University Calls by answering questions and reviewing concepts.
To begin participating in Quai University Calls and Office Hours, set reminders for the upcoming events in the Quai Discord.
Conclusion
Overall, March has been an eventful month for the Dominant Strategies team and the Quai Network protocol. With the implementation of the new PoEM consensus mechanism undergoing internal testing, new branding/websites for both Quai and Dominant Strategies, a successful ETHDenver conference, and ongoing University Calls, we’re excited for what’s to come in Q3.
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.
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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.
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