Flash may be the fastest man alive, but Quarkchain may soon be faster!

By Q2 2019, Quarkchain may unleash a network that can support over a million transactions per second. In comparison, other blockchains sharing the same purpose like Bitcoin and Ethereum can barely manage double digits. Massive universally adopted transaction systems like Visa and AliPay can’t even come close to those numbers. They can handle 45,000 to 60,000 transactions per second during peak Christmas periods and 200,000 transactions a second respectively.

METHODOLOGY

Quarkchain uses a two-layered blockchain with sharding technology. The first layer is composed of elastic sharded blockchains that go by minor blockchains. Their duty is to process their own subset of transactions and helping wherever they are needed. Their elastic nature allows for the injection of more shards to increase throughput for both in-shard and cross-shard transactions.

For informative purposes, Quarkchain has managed over 2,000 transactions per second with only 8 shards. It can be estimated that around 4000 shards will be needed to achieve a million transactions per second, and we know that Quarkchain’s infrastructure can handle thousands of shards.

The second layer is composed of a root blockchain whose main tasks are to confirm transactions and to account for bottlenecks that occur from increased throughput such as computing power, data storage, and internet bandwidth.

A smart wallet is provided to be able to easily track what is happening between the two layers.

FEATURES

Quarkchain generates its hash power through clustered mining, meaning miners will each form mini-nodes that will combine to form a full node. This will allow for weaker miners to contribute and prevent centralization at the hands of a few powerful miners.

Incentives like different rewards in the form of their QKC utility tokens depending on the difficulty level will encourage solo miners to actively participate. Together these solo miners can drive up hash power to an unprecedented level, which will be evenly distributed between the two layers.

Through parallel processing, Quarkchain will grow faster as the number of nodes increase. With the increasing number of shards, the throughput will undoubtedly eventually be able to manage over a million transactions per second.

Turing Complete Smart Contracts facilitate the use of sophisticated logic to execute smart contracts. Also, the support of the EVM will allow for developers to create dApps for the platform, attracting even more users. This time, however, it will be unlikely that an app like Cryptokitties will utterly destroy the network and drop transaction speeds to a snail’s pace, causing users to wait hours if not days.

CONCLUSION

I don’t think I need to spell it out, Quarkchain is going places, and it would be foolish to not keep an eye on it. The major question in everyone’s head is who will manage to solve the problems for public blockchains without compromising on security, decentralization and scalability the quickest. It is very possible that Quarkchain will be the first since they have an extremely talented team with a scalability expert at the helm.

With the level of attention from their many willing supporters, it won’t be difficult for the Quarkchain team to begin securing necessary partnerships and start changing industries with their tech. The blockchain may have a few flaws, like malicious attackers requiring a lower amount of hash power to compromise the network, but compared to other public blockchains, the benefits far outweigh them; besides, there is no entity that could come up with the hash power needed to attack a fully established public network that Quarkchain is bound to become without being exposed.

Useful Resources:

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

Reddit: https://www.reddit.com/r/QuarkChain/

Facebook: https://web.facebook.com/quarkchain/