🎉 Quai Network has just secured $5.00M in its latest funding round! 🎉
🔹About: Quai Network is an innovative Layer 1 blockchain platform designed to address the blockchain trilemma of decentralization, security, and scalability. It achieves this by utilizing a unique Proof-of-Entropy-Minima (PoEM) consensus mechanism and a hierarchical structure of interconnected blockchains, including Prime, Region, and Zone chains. This structure allows Quai Network to handle over 50,000 transactions per second (TPS) without compromising on decentralization or security. The network employs merged mining and sharding techniques to enhance transaction speed and throughput. Quai Network is EVM-compatible, enabling seamless deployment of Solidity smart contracts. Originating from a research project at the University of Texas in 2019, Quai Network was founded by Yanni Georghiades, Alan Orwick, Jonathan Downing, Karl Kreder, and Sriram Vishwanath. The project aims to provide a scalable, secure, and decentralized blockchain solution, setting new standards for blockchain efficiency and smart contract capabilities. Currently in its pre-Mainnet phase, Quai Network continues to develop its infrastructure to support future growth and adoption.🚀
🔹 Lead Investors: Polychain Capital, MH Ventures, Alumni Ventures Group, Ceras Ventures, Jets Capital and many more.
🔹 Total Raised: $15.00M.
🔹 Project Category: PoW 2.0 Modular Chain.
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