The Future Prospects of Quarkchain

The QKC is a utility token for Quarkchain, a multi-layered blockchain that intends to solve the scalability problem with sharding technology. The utility token, QKC, will be their means to reward miners and perform transactions.

The goal is to ensure that a repeat of the Cryptokitties fiasco never happens again, which is the day when people would wait hours if not days for their transactions to process. Ethereum has learned a valuable lesson that day alongside the world, and are looking for a solution as well.

They are not alone in this regard as many other competitors like Zilliqa are also searching for a solution. Quarkchain is among them, and they seem to be a serious contender in the race.

The team behind Quarkchain include Qi Zhou, Zhaoguang Wang, and a bunch of extremely talented research scientists as well as some distinguished partners and investors.

Qi Zhou has:

• A PHD from Georgia institute of Technology.
• 5+ years’ experience as a software engineer.
• Worked with Previous CTO and Co-Founder of Ratrix Technologies, Xiaoli Ma, who is also a research scientist of this project.
• Managed over 10 million transactions per second (tps) for corporate giant Facebook.
• Managed over 10m IOPS with clustering for Dell EMC.
• Clearly Qi Zhou has established himself as a scalability expert, and seems to be the perfect man for the job.

As for Zhaoguang Wang, he has:

• A PHD and Masters Degree in Computer Science and Engineering from University of Michigan.
• Worked as a backend engineer for large complex distributed systems.
• 6 + years’ experience as a software engineer.

The team plans to utilize their sharding technology without allowing any hits to their decentralization and security. The means through which they intend to achieve that goal is by:

• Utilizing clustering to allow even weak miners to contribute.
• Reward miners based on difficulty levels per each shard.
• Incentivize mining solo when compared to joining a mining pool through collaborative mining.

The elastic nature of the sharded layer in Quarkchain allows for the injection of additional shards which will continue to improve the throughput of the cross-shard transaction system. As nodes continue to increase, Quarkchain will speed up its transaction speeds. In its current private testnet, Quarkchain has achieved over 2000 transactions per second with only 8 shards. The infrastructure of the network will be able to support thousands of shards. This means that their goal to achieve over a million transactions per second by Q2 2019 is not as impossible as it sounds.

The team intends for Quarkchain to be the go to blockchain technology, of course to be able to become that, the team knows that their major concern is solving the scalability problem; however, they already have started thinking beyond that point. To further expand on that point, Quarkchain supports:

• The Ethereum Virtual Machine (EVM) to provide an avenue for the development of dApps.
• Turing Complete Smart Contracts for Smart Contracts with complicated logic for users to utilize if needed.
• GPU mining.
• A Smart Wallet to simplify usability of the network.

Learn more :

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