People have been discussing a lot about Blockchain scalability in the recent past. Blockchain scalability can simply be defined as a Blockchain network, which is in a position to handle a large number of transactions within a given period of time. All the Cryptocurrencies that exist out there in the world are experiencing scalability related issues. If you take Bitcoin, the network is in a position to handle only up to 7 transactions per second. On the other hand, Ethereum can handle only up to 15 transactions per second. These are some inherent issues on Blockchain technology, which need to be addressed pretty fast. Otherwise, it would not be possible to take the Cryptocurrencies to the next level. That’s where QuarkChain is coming to play.
What is QuarkChain?
➖➖➖➖➖➖
QuarkChain can be considered as a Blockchain that is located on top of the Blockchain. It is looking forward to create a secure and a highly scalable Blockchain, which is in a position to handle up to a million transactions per second. This has the ability to give solutions to all the performance related issues in Blockchain technology. To achieve this functionality, QuarkChain would be using a Blockchain system with two layers.
With this initiative, QuarkChain will be able to take Blockchain technology and Cryptocurrencies to a wider audience. On the other hand, it can provide an excellent assistance to the smart contracts that are powered up by Ethereum Virtual Machine as well.
What problems will be solved by QuarkChain?
➖➖➖➖➖➖➖➖➖➖➖➖➖➖
If Blockchain technology needs to get closer to the people, it should provide three unique aspects. They include security, scalability and decentralization. As of now, the Cryptocurrencies are offering two of them, which include security and decentralization. However, it has failed to provide scalability for the individuals. It will be delivered through QuarkChain.
The solution provided by QuarkChain is future-proof and easy to understand. It is looking forward to introduce multiple Blockchains with the objective of overcoming the issues that they face. With multiple Blockchains, the vulnerability issues can easily be eliminated. In addition, strategic mining attacks, reverse transactions and double spending attacks can also be eliminated.
Lightning network can also be considered as another unique aspect that you will be able to discover within the Blockchain technology. The inefficiency issues of Blockchain technology would be addressed by the lightning network. In here, the user transactions would be provided with high priority and they will be completed within a short period of time. Hence, favorable conditions are provided for all parties to move forward with their transactions at higher speeds.
The third aspect delivered by QuarkChain for the betterment of Blockchain technology is sharding. Blockchains are linked to an intricate consensus protocol. Due to this reason, cross shards transactions are limited. QuarkChain will be providing a solution to that issue as well.
The Two Layered Blockchain QuarkChain
➖➖➖➖➖➖➖➖➖➖➖➖
As mentioned earlier, QuarkChain is planning to provide solutions to the issues in the Blockchain technology by introducing a two layered Blockchain system. Hence, it is important to take a look at this unique and one of a kind ecosystem.
When you take a look at the two layered ecosystem, you would figure out that the first layer is made out of elastic shared Blockchains. On the other hand, the second layer of QuarkChain is made out of root Blockchain. This would be providing a large number of opportunities for the people.
The key features of QuarkChain
➖➖➖➖➖➖➖➖➖➖
✔️ Smart contracts – QuarkChain is in a position to provide an excellent support to the smart contracts. In fact, it would be facilitating the smart contracts that are based upon Ethereum Virtual Machine. It is possible to define the sharded Blockchains as clones of the Ethereum Blockchain. Hence, it would be possible to experience smart wallet and simple account management capabilities out of it.
✔️ Collaborative mining – Collaborative mining can also be considered as one of the unique features that you will be able to discover in QuarkChain. In fact, QuarkChain is associated with a Poof of Work Blockchain, which can contribute towards collaborative mining. The QuarkChain Blockchain is in a position to confirm blocks within just ten seconds. On the other hand, it can confirm root chains within just 150 seconds.
✔️ Clustering – QuarkChain can effectively keep track of all the transactions that take place within the Blockchain. It would even be in a position to deliver this in a high performing Blockchain, which is linked to 500,000 transactions per second.
✔️ Hash power – Every single Blockchain that exists within the network will provide a unique mining reward level. They have their own difficulty levels as well. Hence, the miners will be able to determine what Blockchain to be mined. This can deliver the best level of returns for the miners as well.
Final Words
➖➖➖➖
As you can see, QuarkChain will be one of the most prominent technologies that we will be able to see in the future of Blockchain technologies. It can dominate and play a major role behind Blockchain, while addressing the issues related to scalability. Hence, it is important for you to go ahead and take a look at QuarkChain.
if you wish to get more information, you can visit website and read whitepaper.be sure to join social media for get updates. i think this article will help you to get an idea about this project.
Website: https://www.quarkchain.io/
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Twitter: https://twitter.com/Quark_Chain
Facebook: https://www.facebook.com/quarkchain.quark.5
Telegram: https://t.me/quarkchainio
author: snyderfx
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1219054
eth address: 0x1682FB6bcAA075888927E222bE694f1B923BaA41
