Quai Network: A Scalable and Programmable Proof-of-Work Blockchain
Quai Network aims to revolutionize cryptocurrency through its scalable and programmable Proof-of-Work blockchain. The document introduces Quai, envisioned as a global monetary system with high throughput and low fees, enabled by its unique Proof-of-Entropy-Minima (PoEM) consensus. It details Quai's architecture, including horizontal sharding and self-organized subnets, designed for significant scaling without compromising security or decentralization. The system features a dual-ledger with Quai, intended as a store of value, and Qi, a stable, energy-linked medium of exchange. Furthermore, the text explains the network's design mechanisms, such as dynamic block rewards, optional reward locking, and a native token conversion system. Quai integrates the EVM for smart contracts and utilizes ProgPoW for ASIC-resistant mining, alongside features like NiPoPoWs for efficient state verification and ETXs for cross-shard transactions. Overall, the document presents Quai Network as a next-generation blockchain designed to overcome existing limitations and achieve widespread adoption.