Hello i am a new user of steemit platform i would like to publish a posts in regards to quarkchain. Let's talk about quarkchain on how this project works. Today I'm gonna show you what is the specific function of the quarkchain project.
ABOUT QUARKCHAIN
Quarkchain is a high throughput blockchain that aims to achieve millions of transactions per second or (TPS).
MAIN FUNCTION
Quarckchain aims to achieve a secure decentralized and scalable platform. The quarkchain network separates the two main functions of blocks (ledger and confirmation) into a two-layered system. The first layer uses sharding to process transactions and the second layer is a root layer that confirms blocks from the sharded layer. Each shard processes a subset of transactions independently.
PROBLEM TO BE SOLVE
ISSUE OF SCALABILITY) Right now, the Ethereum network handles a little over a half million transactions a day, and the Bitcoin network handles a little over half of that.
These numbers are only going to grow and exponentially, at that as the cryptocurrency space continues to boom in popularity in the years ahead. And as this popularity blooms, these cryptos will need to “scale” to meet the needs of an exponentially growing user base. Without scaling, projects will become too congested and expensive to use regularly. To this end, scaling is an existential matter for cryptocurrencies.
SOLUTION
The team behind QuarkChain created this blockchain to resolve the issue of scalability that all the major blockchains are currently facing.
And finally, the most awaiting blockchain platform, QUARKCHAIN, is being introduced. Most of the critics of the decentralized ecosystem emphasized the lack of scalability by comparing it with the highly scalable centralized systems, such as VISA, Alipay, Google, Facebook, Amazon, etc. Targeting over 1 million+ on-chain TPS, with developers who worked for Google, Instagram, Facebook, etc, Quarkchain is leading us to a new era of blockchain revolution.
QuarkChain is hopefully trying to achieve the 1 million+ on-chain TPS using a new two layered blockchain technology, a root layer, and sharding layer. Each minor shard processes a sub-set of all transactions, while the root blockchain confirms the block in all shards by including the block headers in the root blocks. By means of any technology, 1 million TPS is an awesome target. However, if the project achieves a quarter (25%) of its target, it will be a miracle in the blockchain space and also can easily surpass Alipay ( 200K TPS), perhaps the highest in a centralized system. In addition to the highest TPS, QuarkChain is also maintaining higher security and decentralization by adopting several other mechanisms such as, Collaborative mining, node clustering or ASIC resistant hybrid PoW- where root chain is running POW while shards run a so-called root chain first consensus. Another important point to mention that the QuarkChain will also support smart contracts via EVM and off-chain transactions as well. Cross-chain transactions from other blockchains could be implemented by converting the tokens by an adapter and then performing cross-shard like transactions. Accordingly, the Dapps now running on Ethereum and other blockchains can easily be switched over to QuarkChain. Lastly, Quarkchain will support simple account management – which will allow you to manage accounts on all shards from a single point.
TEAM
The project was founded by Qi Zhou, a former Google developer with 15+ years of development experience and a Ph.D. from Georgia Institute of Technology. The team consists of software developers, research scientists, marketing and community managers.
For more information get in touch with quarkchain official website and other social media platform.
https://quarkchain.io
https://www.reddit.com/r/quarkchainio
https://twitter.com/Quark_Chain?s=09