Participants

While QUIPs can be created and executed on a peer to peer basis, significant additional value will be created given a public index of all the active quips on various networks. As such, we endeavor to form the Quip Network, comprising several parties who collaborate to make the world a safer place to transact:

Payment flows and services between participants
Payor
Payee
Service

Client

Transaction Network

Store & Process QUIPs

Transaction Network

Quip Network Validators

PubSub QUIP Commitments

Quip Network Validators

Nominators

Endorses via Staked Assets

Nominators

Whitehat Hackers

Proves Security of Algorithms

Clients come in many shapes and sizes, from retail to institutional, as lenders, traders, insurers, and end-users of the underlying protocol. To take advantage of a QUIP, they simply pay fees for the necessary computation and storage on the underlying transaction network and the QUIP extension will determine any additional fee retained by the protocol. Wallet providers and treasury management solutions may wish to integrate QUIPs as a secure add-on for their clients, in order to streamline the process of forming and executing more complex QUIP exchanges.

Institutions may wish to employ QUIPs as a second layer of security on their cold storage funds, or else integrate QUIPs directly into low volume hot wallet transactions that touch more sensitive and valuable assets. Even transaction networks with highly sensitive contracts, such as Ethereum’s validator staking contract that holds more than 45% of all ETH, may wish to integrate a QUIP directly into the contract so that stakers can rest secure in the knowledge their funds are safe.

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