QuarkChain (A High-Capacity Peer-to-Peer)

As the world becomes more and more familiar with blockchain technology and the decentralised nature of distributed ledger technologies and the impact that this can have on economies around the world, the more it becomes a necessity to solve these problems and meet the demands of the ever increasing number of electronic payments taking place in this sphere. The current blockchain networks are struggling to keep up with the increase of volume of the world’s financial transactions. The solution to this is scalability; to increase the scalability as much as possible whilst at the same time maintaining an increased level of security and decentralisation.

What is QuarkChain?

QuarkChain is a high-capacity peer-to-peer transactional system which claims to provide the solution to the scalability problem by utilising sharding. It is a unique, permissionless blockchain which aims to deliver 1,000,000+ on-chain transactions per second (TPS). In comparison, Bitcoin completes 4 TPS and Ethereum 10 TPS.

Token Economics

Hard Cap: 20 Million USD

The token of the QuarkChain network (QKC) will be used as the primary token on the network. It will be initially distributed as an ERC-20 token on the Ethereum blockchain and will be swapped over once the mainnet is released. The token will be used as a unit of exchange between participants. Network fees will also be paid in QKC as well as rewarding miners. QKC will also be distributed as incentives to those who make continuous contributions towards the system.

Roadmap

The roadmap and timeline is as follows

Feb 2018: White paper released as well as verification code 0.1 developed serving as Proof Of Concept (POC) for the QuarkChain system.
Mar 2018: Testnet 0.1 released with Wallet 0.1 which supports basic in-shard and cross-shard transactions.
Q2 2018: Testnet 1.0 released with smart contract support.
Q4 2018: QuarkChain Core 1.0, Mainnet 1.0 and Smart Wallet 1.0 released providing basic functionalities of the QuarkChain network and basic optimisation. Mainnet should also be released at the same time.
Q2 2019: QuarkChain Core 2.0 and Mainnet 2.0 as well as Smart Wallet 2.0 is released. QuarkChain Core 2.0 will enable a clustering feature so that a group of small scale nodes can form a cluster and run as a full node.

Main Features

The main features of QuarkChain are that it is a two-layered structure. The first layer is the elastic sharding blockchain or shards. The second layer is the root blockchain which confirms the blocks from the first layer. The first layer is flexible and can be resharded as and when it is required without having to change the root layer. It is also able to efficiently cross-shard transactions at anytime between addresses that are in different shards, the transaction speed will also increase as the throughput of cross shards increases.

Another main feature is that it is able to scale horizontally without it becoming centralised. In blockchain networks that have a high TPS throughput, running a super-full node can be very expensive which leads to centralisation. However, QuarkChain has further decentralised this by allowing a large number of cheap nodes to from clusters therefore replacing and running a super-full node through the combination of these clusters. QuarkChain encourages weak miners to mine directly without having to join mining pools which have in some respects monopolised certain networks.

Further, to ensure security is not compromised, all transactions in QuarkChain are protected by 50% of the networks hash power, this is allocated to the root chain to prevent any double spending attack. Above all, to make things seamless for the user QuarkChain have simplified the account management process so that a user will only need one account for the shards which will interact seamlessly between each other. QuarkChain will also support smart contracts via the Ethereum Virtual Machine, this allows DApps to use the QuarkChain network with its high scalability features.

QuarkChain Roadmap

Development Team

Qi Zhou

Founder of QuarkChain

Qi is an expert in scalability and high performance systems and was a member of the real-time infrastructure team at Facebook.
Former Google & Facebook Software Engineer as well as Consultant Software Engineer at Dell EMC.
PHD from Georgia institute of Technology.

ZhaoGuang Wang

Senior Software Engineer

Senior Software Engineer at Facebook, Google and Instagram with expertise in large scale distributed systems processing millions of queries per second.
Masters in Computer Science - University of Michigan.

Xiaoli Ma

Research Scientist

Professor at Georgia Institute of Technology.
Previous Co-Founder, CTO Ratrix Technologies LLC.
Phd - Electrical Engineering - University of Minnesota - Twin Cities.

Yaodong Yang

Research Scientist

Professor at Xianjiao Tong University.
Co-Founder at Demo++
Phd - Engineering from Virginia Tech

Wencen Wu

Research Scientist

Assistant Professor at Rensselaer Polytechnic Institute.
Phd - Electrical and Computer Engineering from Georgia Institute of Technology.
Operations Team

Anthurine Xiang

Marketing and Community

Background of Finance, Consulting and Tech with experience in both Wall street and Silicon Valley.

Ting Du

Business Development and Eco System

Founder of Incubator Demo++

Patrick Mei

Creative and Content

Founder of Investment Firm

Julianne Zhu

Social Media Broadcasting

MBA from Rutgers University

Team of Advisors

Arun G. Phadke - University Professor Emeritus & Research Professor of Virginia Tech
Bill Moore - Distinguished Engineer of Sun Microsystems.
Mike Miller - Phd Physicist
Kevin Hsu - has invested in over 60 Blockchain companies around the world
Leo Wang - Crypto fund Manager
Zhiyun Qian - Expert in Cybersecurity
Andrew Lee - Blockchain Diligence Expert

Conclusion

QuarkChain is a high capacity peer-to-peer transactional system which aims to deliver 1 Million TPS. It has an experienced team with a large academic presence whose purpose is to solve the various problems that blockchain technology has currently in regards to low scalability, security risks and the increasing threat of centralisation. It will try to solve these problems through sharding, anti-centralised horizontal scaleability, a “game-theoretic framework” to prevent double spending attacks and “simple account management”. Overall this is an interesting and exciting project which will do very well if they can achieve what they have set out in their whitepaper.

For more information on QuarkChain take a look at their website Quarkchain.io where you can also read their whitepaper.

Disclaimer

I am not a financial advisor and none of this is financial advice, this is purely a review on QuarkChain ICO and is for information purposes only. Please note that Initial Coin Offerings (ICO’s) are speculative and offer no guarantees, never invest more than you’re willing to lose and remember always do your own research.

More information on the project ( quarkchain ) please visit their website listed below:-

 WEBSITE: https://quarkchain.io/

 WHITEPAPER: https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf

 ANN : https://quarkchain.io/QuarkChain-Token-Sale-Terms[EN-ZH].pdf

 TELEGRAM: https://t.me/quarkchainio

 FACEBOOK: https://www.facebook.com/quarkchain.io

 TWITTER: https://twitter.com/Quark_Chain

 MEDIUM: https://medium.com/@quarkchainquark

 STEEMIT: https://steemit.com/@quarkchain

 WEIBO: http://weibo.com/QuarkChain