What are the key technical features of Quai Network?

Quai Network supports multiple mining algorithms and allows miners to choose their block rewards.

What are the risks associated with transferring Quai Network assets?

Digital asset prices can be volatile, and users should verify contract details and destination addresses before transfers.

How can I verify the acquisition of Quai Network assets?

Verify the asset name and network before transferring assets, and review custody methods.

Quai Network (QUAI)

Rank #931

Market snapshot

Price: $0.011954
Market cap: $9.4M
24h volume: $273,435.62
Circulating supply: 782,484,457
Total supply: 1,082,386,377
Max supply: N/A

What is Quai Network?

Quai Network is a blockchain built for the future economy where energy, AI, and compute become money. It allows users to generate QUAI through mining, and it features a network of blockchains that are interconnected to maintain functionality and security.

How Quai Network works

Quai Network operates through a system of braided blockchains that share Proof-of-Work security via merged mining. Users can generate QUAI by mining, and the Prime blockchain serves as the central connection for all sub-networks, facilitating data transfer and maintaining network integrity. The network allows anyone to participate in governance by running a node or miner.

Key information

Symbol: QUAI
CMC rank: #931
Network / platforms: Base, Ethereum
Categories: Mineable, Proof of work, Store of value
Date added: Oct 24, 2022

Contract address

Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.

Base
0x5c97D726bf5130AE15408cE32bc764e458320D2f
Ethereum
0x70b7f7044D2ca8E2F1E999B90EF16d7Cb7A0cDA1

Key characteristics

Quai Network supports multiple mining algorithms, including KawPoW (GPU), SHA-256 (ASIC), and Scrypt (ASIC). It enables miners to choose their block rewards and employs a unique mining reward structure that includes workshare mining, allowing miners to receive rewards for partial work contributions. The network is designed to be censorship-resistant and scalable through its innovative architecture.

Official resources

Risks

Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.

Transfer and custody notes

Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.

FAQ

What is Quai Network?: Quai Network is a blockchain project that integrates energy, AI, and computing into a monetary system.
How does Quai Network operate?: Quai Network operates through a system of braided blockchains that share Proof-of-Work security via merged mining.
What are the key technical features of Quai Network?: Quai Network supports multiple mining algorithms and allows miners to choose their block rewards.
What are the risks associated with transferring Quai Network assets?: Digital asset prices can be volatile, and users should verify contract details and destination addresses before transfers.
How can I verify the acquisition of Quai Network assets?: Verify the asset name and network before transferring assets, and review custody methods.

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