QuarkChain: New Solutions for Blockchain
The first blockchain generation was represented by bitcoin. It was the start of the world technological revolution. The second generation of blockchain technology is based on Ethereum and smart-contracts.
The important breakthrough of blockchain is “proof of stake” (POS) but current generation blockchains are mostly secured by “proof of work (POW)”, requiring a lot of hash power (or electrical power) and it is not so efficient. In contrast, the POS systems initialize the block rewards to the tokens holder, significantly reducing the energy to mine a block. So, it is more economically efficient.
Recently, distributed ledger technologies (DLT) - decentralized and trustless blockchains have started to change the current economy, communications and information exchange. As the global volume of transactions keep growing, the low capacity of current blockchain-based networks cannot cover the worlds commerce anymore.
Today, the blockchain is about to extend the scalability and provide decentralization and security in an appropriate level.
QuarkChain
QuarkChain is an innovative blockchain architecture aiming to meet the global commercial standard. It provides a secure, decentralized and scalable blockchain solutions
The QuarkChain Network presents a sharding-based blockchain architecture meeting global commercial standards. The QuarkChain Network technology was inspired by its team extensive experience in developing large-scale distributed systems in centralized world handling billions of transactions per second. These mechanisms have been applied to blockchain to create a unique solution to scalability problem. This approach aims to greatly expand the usability of blockchain technology without sacrificing its core features of security and decentralization.
The QuarkChain Network helps to move blockchain into the next generation by increasing the current TPS capacity several-thousand to a projected 100,000 TPS. Such network will create new scenarios demanding high speed and volume. This network will be used in the industries demanding higher TPS.
Ultimately, the QuarkChain Network mission is to create a high-throughput network to support applications such as distributed social media, high frequency trading, Internet of Things (IoT), gaming and payment.
How it works?
The QuarkChain Network has several elements providing its work.
- Two-layered blockchains
The QuarkChain consists of two blockchains layers: elastic sharding blockchains (shards) as the first layer, and a root blockchain confirming blocks from the shards as the second layer.
- Cross-shard transactions
Cross-shard transactions can be issued at any time, and confirmed in minutes. The throughput of cross-shard transactions increases with the number of shards.
- Market driven collaborative mining
Hash powers are distributed among shards.
- Simple account management
Various cryptocurrencies from shards are stored in one wallet.
- Horizontal scalability
A super-full node can be really expensive when TPS goes high. That’s why QuarkChain provides multiple nodes forming a cluster running as one super-full node.
Token sale and ICO
The project has no pre-sale. All mentionings of pre-sale are likely a misuse of private sale. So, be aware of scammers.
The public sale will not be cancelled.
Token Sale
Token distribution
Dear Readers, if this article was interesting and useful for you, put Upvote and followed my blog. And I wait for your comments, what do you think about this project?
You can find detailed information on the following links:
Official website
Whitepaper
Telegram
Steemit
Github
Medium
Twitter
Bitcointalk Username: CapnBDL
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=212645
My Ethereum address: 0x577FA2553Af35908072Af7fc61270fd98022002b
This writeup is so detailed that i'm forced to ask if you're one of the developers. Please keep us updated about it. It would be nice to see the blockchain taking another face.
I'll resteem for wider audience.
I'm @tomfreeman!
Excellent article, long been subscribed to you. Another promising project? I read the whitepaper and realized that it's a very worthy project, how do you manage to find such projects?
I evaluate projects on many criteria and conduct a strict selection. Almost all projects in my portfolio raise funds.
I will definitely take part in this project, after what I've just read, I have no doubt. This project should bring a huge profit.
Necessarily bring a big profit, the project is very high-quality and covers a serious topic.
That's what they swung. Very seriously, it turns out they can exceed the number of transactions compared to Visa?
According to the reported data, it is. Let's hope this is a brand new blockchain. And a new level of development of this technology.
Thanks for the information, this post was very useful for me. I will take this company into a portfolio for asset diversification.
A very cool idea from the guys. The project can shoot if they raise funds well.
I think the fees will be successful.
Recently heard about this project, thanks for providing a detailed description. It is necessary to participate urgently, the project can be very successful. Such projects have been working well recently.
I agree! I advise you to hurry.
Lately, there are a lot of interesting projects, but this one caused me a special interest. I like what they do and I think that they have a great future! Thanks for the review.
The project is very ambitious and looks promising. They want to solve the main problem of decentralization and blockchain. If everything turns out, it can be called Blockchain 3.0
Blockchain 3.0? Are you seriously? I do not think that they will be the best! Ethereum will still be better and faster, they will just update their blockchain.