QuarkChain - A Mighty Solution for all Issues on P2P Transnational Systems

jkvithanage (34)in #blockchain • 6 years ago (edited)

The blockchain technology continues to cause a stir around the world and reinventing the very idea of business in various spheres and industries around the world. Our fundamental idea of how value can be created or distributed has been redefined all thanks to the blockchain technology. But in its present form, this revolutionary and disruptive technology is one that continues to suffer serious teething problems as it is being stifled by key issues that threaten to derail or at least delay its continuous rise. The blockchain technology is renowned for its airtight security, but as adoption increases blockchains such as Bitcoin’s’ and Ethereum’s show themselves ill-equipped to handle millions of users around the world at any given time. Scalability is the pursuit that is the stuff of holy grail of the blockchain technology and as yet no platform has been able to achieve it without compromising core values that the blockchain technology has come to be known for.

The QuarkChain Renaissance

QuarkChain is an all-new blockchain platform that is built from scratch with the goal of ridding the present blockchain industry of the myriad of problems that continue to bedevil its rise and further penetration in the mainstream world. QuarkChain is a platform that is built with cutting-edge solutions to fully address the problem of scalability, solving them in a way that neither the security or the decentralization of the platform are comprised in a nay way. QuarkChain when fully-functional projects to have the ability to process over 1,000,000 transactions on its block chain every second, which is far beyond the 450,000 transactions per second the centralized payment gateway is able to process at the very most.

Transactional volume comparison

A Well-Tooled Platform

QuarkChain aims to achieve the impossible for the block chain universe as such, it has been equipped with some serious gear as it sets out to become the first fully-functional blockchain platform that is able to handle the rigorous demands of the modern business world. The main weapon in the arsenal of the QuarkChain platform is its use of a twin blockchain framework with cutting-edge elastic shards taking off the majority load on the blockchain aiding in dealing with various aspects of the processes, while a primary or root blockchain serves as the anchor that validates every transaction processed by the shards. With scalability achieved QuarkChain takes further steps to ensure that it does not come at any cost to the security of the platform and that is why to make any double-spending attacks impossible, the platform routes over 50% of the total hash power of the platform to the root blockchain.
QuarkChain also works hard in ensuring the independence of miners and hence decentralization is maintained at the very highest of standards, that is why all miners, big and small have equal opportunity in the value creation on the blockchain. Small-time miners are able to fully participate and benefit from mining directly by themselves without ever needing to join mining pools. Small node owners are also able to cluster with one another making sure the supermodels created are very cheap maintaining the core decentralized feature that every public blockchain is meant to have.

An illustration of cross-shard transactions

Project Timeline

Timeline
QuarkChain project was started at Q2, 2017 with a blockchain scalability problem research and the team has planned the project completed within a perod 2 years. By the time of writing this article, the project has come to an enormous position of success. They have already launched their testnet v0.1 and debugging it. According to the randomly picked data from the testnet trial runs, they were able to achieve more than 2000 tx/s speed.

If you're interested in blockchain technology and its development, this will be a good one for you. Read QuarkChain Whitepaper and as well as the below links will be more useful for you to stay in touch.