The Case For QuarkChain

QuarkChain is a startup that is aiming to become a leader in the high transaction per second blockchain niche.

All blockchains act as ledgers but the consensus system, structure, and scalability are what separate them. Some blockchains only confirm simple transfers of value like Bitcoin and Monero.

A different type of blockchain can utilize smart contracts to integrate code into the blockchain ecosystem. The most famous of these blockchains is Ethereum. Ethereum has many positive attributes and a larger user base but scalability and transaction rate are not its strong points.

QuarkChain is taking over where Ethereum leaves off. QuarkChain has the smart contractability of Ethereum yet will execute over 100,000 transactions per second (TPS).

It's All About TPS

Transactions per second are going to be a trending word in the blockchain world for the remainder of 2018 and into 2019. With the explosion of cryptokitties in late 2017, the limitations of the Ethereum were on full display.

There are many applications where high TPS rates do not matter, for these situations many outstanding blockchains solutions exist. However, for the multiple uses where high TPS is needed, there is no single accepted solution at this time.

QuarkChain is looking to provide the solution for those needing a high TPS capable blockchain. Before looking into possible uses of QuarkChain let's compare the TPS of some common applications.

QuarkChain - +100,000 TPS
Visa Network - 2000 TPS Average (Up to 50k)
PayPal - 115 TPS
Ethereum - 20 TPS
Bitcoin - 7 to 10 TPS

Who Needs All These Transactions?

There are multiple applications that require high TPS blockchains form gaming to financial. Below are some use cases that QuarkChain can provide solutions for.

Decentralized Exchanges
The majority of decentralized exchanges (dex) are operating on the Ethereum Network and utilize a system of smart contracts to match buyers and sellers of cryptocurrencies.

At this time the decentralized exchanged with the highest 24 hr volume is Bancor, with approximately $5 million. In order for this number to climb the DEXs must be able to handle smart contracts at extremely high volumes. The transaction speed must be high enough to mimic that of actual stock trading or at least that of centralized exchanges like Binance or Bittrex.

Payments
In order to become a payment system that is accepted globally at brick and mortar and internet locations, a blockchain must be able to handle transaction speeds similar to those of Visa, Mastercard, and American Express.

The initial goal of QuarkChain to be realized by the end of Q2 2018 is 100,000 tps, which is twice that of Visa's peak performance. Having excess tps is important as a blockchain is doing more than just transfers of value.

IoT & Autonomous Vehicles
If you are a reader of blockchain happenings and ICO whitepapers I'm sure that you've seen numerous projects with an IoT angle. Many of these projects are looking to integrate the millions of IoT devices (and growing) that are capable of acting as nodes, providing CPU power for decentralized computing, or providing stationary location data into the blockchain ecosystem.

These IoT devices will communicate with each other and with the blockchain, requiring a high number of tps to confirm data and make and receive payments.

Autonomous vehicles are also a growing industry with over 2.1 million vehicles expected to be operating in the U.S. by 2025. When fully autonomous and decentralized these vehicles will likely use a blockchain based protocol to communicate and transact with each other.

These vehicles will utilize smart contracts to pick up and drop off cargo (including passengers), pay for fuel, and even verify location. QuarkChain is capable of over 3 billion transactions per year in comparison to the 7.4 million required by Uber.

Big Data
Big data is a popular use case for blockchains. The big data projects are highly complex and usually integrate data exchanges, data authenticity models, data valuation models, user reputation scores, and decentralized data storage.

This data is mostly used by advertisers and marketing firms but some data projects are attempting to integrate neural network training for Artificial Intelligence. These projects also require decentralized versions of M-Turk requiring confirmations, reputation, and payments.

Taking just one of the components required from big data projects requires a high number of tps, especially when multiple projects are running simultaneously on one chain. When a large marketing firm is attempting to buy huge amounts of data they are not going to wait for smart contracts to execute when they are used to instantaneous purchases.

Gaming
Blockchain gaming has not yet hit its stride but even simplistic, less than turn-based games like Cryptokitties required more transactions than Ethereum could handle. The future of gaming looks to include player based economies where in-game loot is tied to the blockchain and can be bought and sold with cryptocurrency.

In essence, this creates the need for a decentralized exchange (as discussed earlier) that exists only inside the game itself. Think of it as a decentralized auction house that trades in-game currency that has real monetary value.

The current gaming environment that is taking place on mobile phones will also be transferred over to blockchain based solutions. These games feature large numbers of in-game purchases, which when all combined require high tps.

Overall

QuarkChain is entering the high tps blockchain space at the right time. The mainnet launch in Q4 2018 will be early enough to provide a working platform for future projects to launch on. It will also be able to establish itself in the space before the need is fully developed.

The team's decision to integrate a root chain with multiple shard chains from the beginning is a smart one. This will allow the development to continue smoothly and scalability to increase with each milestone.

For more information

📅Token Sale: Whitelist Open (More Info)
📈Token Ticker: QKC
QuarkChain Website ||Whitepaper ||Telegram || Twitter

---

Keep up with me:
Steemit || Twitter

*This post contains a project overview not investment advice. As always do your own research before participating in a project of any fashion.