What is Quip Network?
Quip is not a single blockchain or a single quantum computer. Think of it as two orthogonal layers that can be adopted together or separately:
- Compute-Consensus Layer (Quip Network) – a new Nakamoto-style chain whose proof-of-work is a useful optimization job. This turns spare classical/quantum hardware into block-production while producing answers clients are willing to pay for.
- Asset Layer (QUIP Account & Interlock) – a post-quantum wrapper you deploy on any existing chain to lock, move, or atomically swap value without bridges or oracles. It upgrades security today without requiring any hardware or protocol changes.
These layers share the same token ($QUIP) and the same validator/miner economy, but either layer can function on its own:
- Only need useful-work mining? Point your QPU/GPU/CPU farm at the Quip Network; earn $QUIP even if you never lock assets.
- Only need PQ security? Use Quip Accounts on Ethereum, EVM L2s and Bitcoin L2s with no exposure to mining.
1. Mission & Scope
Quip delivers two coupled services:
- Decentralized compute marketplace – miners solve real optimization jobs instead of wasteful hashes, proving quantum advantage under a single token economy.
- Post-quantum asset security – hybrid signing through the open-source pqhybridsign library, which always pairs a post-quantum signature (NIST-approved schemes and SHRINCS) with the chain’s existing ECDSA or secp256k1 signature, so base security never degrades and the post-quantum protection is additive. On EVM networks this is an ERC-4337 compatible account with verifier contracts audited by Oak Security, compatible with WalletConnect and smart-account dApps.
This secures existing value, monetizes idle quantum-classical hardware, and funds open-source quantum research.
For why the network is built this way, see Motivation; for the constraints the design has to satisfy, see Key Properties. How Quip Network Fits Together puts both layers in a single diagram.
2. Core Components
2.1. QUIP Account
- Deposit on a supported chain → vault ID & first post-quantum public key.
- Each action signed with the next hash-based key → immutable hash-chain of ownership.
- Safe through host-chain reorgs; can always withdraw back to native chain.
2.2. Interlock
- Two parties can perform atomic swaps, on one chain or across two, coordinated by a shared hash secret: only the hash of the secret is published until the swap settles
- Each party commits the assets it is trading to the settlement contract on its own chain, bound to the agreed terms of both sides, and this starts the swap’s deadlines
- When one party claims its half of the trade, the claim reveals the secret the other needs to claim the other half. If neither party acts, each party reclaims its own assets once its deadline passes. See How a Swap Works
- No bridges or oracles required.
2.3. Consensus – Quantum PoW (QPoW)
- Canonical chain: Random Ising models are generated using a block header
prevHash‖Merkle‖height‖addr‖keyswith difficulty determined by chain clock speed - Side-chains/uncles: Jobs submitted by consumers can be included as an uncle block in any chain: different processors can mine same job class, and publish alternate solutions to validate quality
- Miner must output N low-energy, pairwise-distant solutions.
- Identity = {ECDSA, rolling hash-based key}; difficulty & streak bonuses bind to key.
2.4 Subnet & Pipeline Marketplace
- Each arrow is pluggable; component authors earn royalties.
- First subnet = Optimization (QUBO -> Ising: knapsack, TSP, SVP, job scheduling…).
- Future subnets: Verifiable Random Functions, Search, Factoring, Circuit Mapping.
User Data → Template → Graph Reduce → Embed → Algo Select → HW Select → Compute
3 Actors & Incentives
| Actor | Role | Earns |
|---|---|---|
| Miner (CPU/GPU/ASIC/QPU) | Solve Proofs of Useful Work, broadcast blocks | Block reward + job fees |
| Validator | Batch QUIP tx, finalize blocks, track reorgs | Network fees + emissions |
| Algorithm/Pipeline Designer | Publish templates, reducers, algos | Royalty on every call |
| Nominator | Delegate $QUIP to validators | Share of validator yield |
4 Token Economics
4.1 Supply (fixed commitments)
One billion QUIP will have been emitted when all pre-mine allocations finish vesting — and emissions continue at 40M/year after that, so this is not a maximum supply:
- Subnet Emissions: 40 %
- Quip Foundation: 20 %
- Early Investors: 15 %
- Builders: 15 %
- Community Programs: 10 %
4.2 Utilities
| Layer | Action | Payer | $QUIP sink |
|---|---|---|---|
| Asset (Wallet) | Account deposit | Creator | Flat fee (protocol fee) |
| Transfer | Sender | Flat fee → validators | |
| Contract exec | Caller | % routed to treasury | |
| Swap commit | Both parties | Escrow (reclaimable) | |
| Swap claim | Claimer | None (gas only) | |
| Compute (Sinnet) | Job bid | Consumer | Variable fee |
| Block reward | Protocol | Newly-minted | |
| Staking bond | Validators/Noms | Locked collateral | |
| Bounty payout | Treasury | Stream release |
On the deployed swap contract, each commit pays a flat commitment fee in ETH, escrow is returned by reclaim with no slashing, and claim carries no protocol fee. See Contracts and Fees.
Key points: universal denomination, predictable costs, treasury buyback into permanent liquidity (no burn), security-fee coupling.
4.3 Emission Outline
- Fixed and flat: 40 million QUIP per year, regardless of price, activity, or subnet count — no halvings.
- Implicit decay: each new subnet competes for a share of the same annual emission, so QUIP emitted per unit of compute falls as the network grows.