Quarkchain to chain up slow transaction speeds for good

Several blockchains are trying to do the same thing Quarkchain is, and for good reason. Slow transaction speeds are the reason why transaction fees grow to an insufferable amount, and it is because of this that centralized institutions are the go to mechanism instead of a permissionless blockchain that needs no government or corporation.

However, widespread adoption is not so far off, there’s not much else besides the scalability problem in the way. Cybersecurity is one of the leading concerns businesses have, and blockchain can reduce the threat significantly.

For these reasons, it is unsurprising that the Quarkchain project that has gotten a lot of media attention. The public blockchain that aims to address the fundamental problem current blockchains have with scalability, and it aims to do so without reducing the level of decentralization and security.

The first blockchain to do so will undoubtedly be among the kings in the cryptomarket, right up there with Bitcoin, but it won’t be easy considering how many are in the race. Large networks with massive support like Ziliqa and Ethereum are actively seeking out a solution.

Quarkchain’s solution is rather unique, with a two-layer blockchain system that enforces a sharding technology in the network. The layer with the sharded blockchain handles transaction processing and will continue to be able to handle massive loads as shards are injected into the network. The other layer acts as the root layer which confirms transactions as the minor blockchains send over block heads.

With clustering, collaborative mining and evenly distributed hash power, Quarkchain intends to maintain the three characteristics of decentralization, security and scalability. Their current testnet manages over 2000 transactions per second and it is currently utilizing only 8 shards. The infrastructure can support up to thousands of shard, which it will when the blockchain achieves over a million transactions per second, the final goal in the team’s current roadmap. This milestone is planned for Q2 2019, and the upcoming milestone in Q2 2018 will see a network that can support more than 10,000 transactions per second.

For contrasting purposes, Bitcoin can only manage 6 to 7 transactions per second and Ethereum maxes out at 15 transactions per second. This suggests that the two giants have a very low throughput, and Quarkchain’s solution allows for high throughput with the ability to conduct cross shard transactions. As mentioned previously, the throughput of the cross-shard transactions system will scale linearly as the number of shards increases, increasing transaction speeds even with massive loads.

If that wasn’t enough, Quarkchain supports a number of important value-addition services to ensure a high level of satisfaction while maintaining their fundamental characteristics. These services include support for the EVM, Turing Complete Smart Contracts, a Smart Wallet, and more.

For more information on Quarkchain, please take a look at their:

Website: https://quarkchain.io/

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

Code Review: https://cryptobriefing.com/quarkchain-code-review-deep-dive/

Github: https://github.com/QuarkChain

Interview and Test-net Demo:

Telegram: https://t.me/quarkchainio