Scalability is one of the biggest problems that blockchain projects are looking for. The QuarkChain project wants to build the third generation of blockchain with multiple layers of scalability through a Sharding solution (this is a solution to split data into easy-to-handle pieces called data shards, which are one Number of projects being implemented such as Zilliqa, Ethereum through Plasma project. Some characteristics of the Quarkchain blockchain network. Quarkchain announced that it would reach 1 million transactions per second.
For bitcoin and ethereum to compete with more mainstream systems like visa and paypal, they need to seriously step up their game when it comes to transaction times. While paypal manages 193 transactions per second and visa manages 1667 transactions per second, Ethereum does only 20 transactions per second while bitcoin manages a whopping 7 transactions per second! The only way that these numbers can be improved is if they work on their scalability.
In bitcoin and ethereum, a transaction goes through when a miner puts the transaction data in the blocks that they have mined. So suppose Alice wants to send 4 BTC to Bob, she will send this transaction data to the miners, the miner will then put it in their block and the transaction will be deemed complete.
However, as bitcoin becomes more and more popular, this becomes more time-consuming. Plus, there is also the small matter of transactions fees. You see, when miners mine a block, they become temporary dictators of that block. If you want your transactions to go through, you will have to pay a toll to the miner in charge. This “toll” is called transaction fees.
The higher the transaction fees, the faster the miners will put them up in their block. While this is ok for people who have a huge repository of bitcoins, it might not be the most financially viable options. In fact, here is an interesting study for you. This is the amount of time that people had to wait if they paid the lowest possible transaction fee, if you pay the lowest possible transaction fees, then you will have to wait for a median time of 13 mins for your transaction to go through.
More often than not, the transactions had to wait until a new block was mined (which is 10 mins in bitcoin), because the older blocks would fill up with transactions. Bitcoin has a size limit of 1 mb (this will be expanded on later) which severely limits its transaction carrying capacity.
The first layer contains all the sub-blocks, also known as the shards, which own independent transactions. As the number of shards increases, the number of transactions that can be accommodated on it is also increased.
• Elastic: the sharded (minor) blockchains on this layer are elastic because the amount can be increased or decreased as required.
• Sharded – each sharded minor-blockchain only processes a small subset of all the transactions that occur so they are considered “sharded” as they represent a small fragment of all the transactions occurring throughout the network. (This is what enables QuarkChain’s scalability.)
• Blockchains – the minor-blockchains keep track of the current state of the ledger by processing and recording relevant data such as user accounts and the transactions made between accounts.
The second layer serves the function of confirming the transactions that take place throughout the network. This is done by sending the block headers of the minor blockchains that contain all the transactions to the root blockchain, the root blockchain then confirms these transactions by creating a new block with all of the block headers.
QuarkChain allows two types of transactions to be passed that are traded in shard placeholders and cross-shard transactions. Transactions in the shard are transactions that occur between addresses within the same segment of the shard. However, the solution that QuarkChain offers is completely different from high-throughput solutions that are making cross-shard transactions. The shard crossover system will be expanded when the number of shards increases.
To simplify the user experience in the cross-shard system, QuarkChain is developing a Smart Wallet. All addresses are owned by the user in each shard and are connected through individual private keys.
In theory, a user can have multiple addresses connected to different shards. To solve this problem, QuarkChain applies both accounts in the wallet as primary and secondary accounts. The primary account includes the user's fixed shard address while the secondary address manages the remaining address of the other shard.
In order for the fund management to be minimal, any transaction that takes place on the premium account will transfer the remaining balance to the primary account. The user's balance will be maintained on this account, minimizing the risk of confusion between multiple balances in multiple shards.
• Two-layered blockchains — QuarkChain consists of two layers of blockchains. They will use elastic sharding blockchains (shards) as the first layer, and a root blockchain that confirms the blocks from the shards as the second layer. This increases it’s safety & security.
• Cross-shard Transactions — Cross-shard transactions can be issued at any time, and confirmed in minutes. The throughput of cross-shard transactions increases linearly as the number of shards increases.
• Market Driven Collaborative Mining — They have designed a game theoretic framework for incentives, where hash powers are incentivized to distribute evenly among shards. There are at least 50% of overall hash power allocated to the root chain to prevent double spending attack as mentioned above.
• Simple Account Management — There is only one account needed for all shards. All cryptocurrencies from different shards are stored in one smart wallet.
• Horizontal Scalability — Because a super-full node can be extremely expensive when TPS goes high, they will allow multiple honest nodes forming a cluster running as a super-full node.
Within a few days the number of telegram participants doubled and there were no signs of stopping growth. Currently the number of people in the QuarkChain Community (Telegram) has reached 81k. This amount will continue to increase soon.
As you know, a project can be successful or not, it should rely heavily on the community. So achieving the interest of many people in the project can be considered a great success of them !
They also won many good reviews from the experts. Let's me show you spreadsheet rakings of Ian Balina ( He is an influential Blockchain and Cryptocurrency Investor, Advisor, and Evangelist. He has appeared in The Wall Street Journal, Forbes, CNBC, Huffington Post, The Street, INC and Entrepreneur Magazine for his work in analytics, cryptocurrencies, and entrepreneurship.) :
As you can see, QuarkChain is # 2 in the spreadsheet. But to evaluate both projects, I think QuarkChain should rank first (Personal view).
In additon, angel investors have invested 80% of the project in just a few days. That means only 20% for the whole community. So if you do not get involved early, you are likely to miss this opportunity.
One of the qualities that can help Quarkchain grow so strong is that they have a team of developers whose members have many years of experience in sharding and clustering, blockchian and related fields.
Below is the image and biography of the team members:
Development team
Operation Team
Advisor
The project is still under development, although they have secured ~2,000 transactions per second (TPS) in the closed test. The team is recruiting volunteers to testnet, which will be released live at the same time as the crowdsale. We can see the seriousness of the project when they are trying to find their own way. This is evidenced by the fact that the project has mainet, which is also an important factor to attract investors.
At the end of 2018, they will lauched Mainnet 1.0. Let's wait and see their success!
The KYC will last for two weeks, and will not be closed no matter how many people participate, so rest assured. Deadline is May 20th 11:59:59AM PST, So please be sure that you completed all steps before.
Information :
Ticker: QKC
Token type: ERC20
ICO Token Price: 1 QKC = 0.0229 USD (0.00003 ETH)
Hardcap: 20,000,000 USD
Total Tokens: 10,000,000,000
Available for Token Sale: 20%
Distribution :
20% Token sale
15% Team
15% Foundation
5% Advisor
45% Mining, Community and Marketing
This project has good technology, has real product, has strong community support and clear long-term direction. The development team and advisory group are experienced in technology employed by large companies as well. In addition, the project also receives investment from a number of funds such as Prengle VC and Liquid2 Ventures. This partly confirms the feasibility of the project. Only several projects get "VERY HIGH INTEREST" from IcoDrops.com. And QuarkChain is one of them!
The ICOs about "blockchain Scalability" solution will remain a trend worthy investment in 2018. QuarkChain and Zilliqa are the only projects that are performing sharding on the testnet. Quarkchain's $ 20 million market cap worth of investment accounted for only 2.8 percent of Zilliqa's market capitalization, so it was possible for Quarkchain x10 after the listing.
Website: https://www.quarkchain.io/
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf
Telegram: https://t.me/quarkchainio
Facebook: https://www.facebook.com/quarkchain.quark.5
Twitter: https://twitter.com/Quark_Chain
Github: https://github.com/QuarkChain
Steemit: https://steemit.com/@quarkchain
Author: Catsmile
Telegram username: 
