QuarkChain - high-capacity peer-to-peer transactional system
QuarkChain is a high-performance blockchain-based platform with the goal to perform millions of transactions per second (TPS). A high-performance system will solve the problem of scalability faced by the main platforms. QuarkChain platform seeks to commit hundreds of thousands or millions of transactions per second. These numbers are the bandwidth of QuarkChain system, i.e. the maximum performance, and not the average TPS in production, which is usually much smaller.
The project was launched in the second quarter of 2017, and at the moment the problems of blockchain scalability are investigated, a verification code is created, and the system operates through smart contracts. The full launch of the project is planned for the 2nd quarter of 2019.
Searching for a high TPS network is not a new story. Annually well-known payment networks, for example Alipay, can reach 200 000 TPS. The task of this project is to get high TPS, while simultaneously supporting decentralization and network security. The introduction of scalability, decentralization and security implies the fulfillment of necessary conditions and requirements, and many existing systems cannot provide them. QuarkChain platform increases throughput in a decentralized and secure environment.
QuarkChain can implement high TPS for the following reasons:
1. QuarkChain platform consists of two elements of the general blockchain. As the first layer, the creators of QuarkChain use standard databases, and the root blockchain is already the second layer, which ensures the operation of blocks from the first layer. The second layer is flexible to work without changing the foundation of the system.
2. Guaranteed security based on market links. To ensure the security of all transactions, the work of the platform is beneficial when at least 50% of the total hash authorities are distributed along the root chain to prevent double spending on any transactions.
3. Anti-centralized horizontal scalability: in any network implemented through a cluster with a high TPS, the most complete work node can be extremely expensive, which facilitates centralization. QuarkChain platform, on the contrary, allows replacing the supercomplete node while remaining decentralized platform, through inexpensive nodes forming a certain cluster.
4. Cross-Shard operations in QuarkChain can be performed in non-stop mode in minutes, which indicates the effectiveness of operations.
5. Simple management of accounts. In QuarkChain there is only one account. All cryptocurrency transitions from different networks are stored in one smart wallet.
QuarkChain currency is QKC tokens that work through Ethereum and are implemented according to the ERC-20 standard. The start of preliminary sales took place on May 7, 2018 and lasts for two weeks. All participants of this stage get bonuses when buying tokens - 25% discount on the purchase of cryptocurrency. During the pre-ICO it is possible to purchase 39 416 QKC for 1 ETH, and within the framework of the main crowdsale, which is scheduled for the end of May - 31 533 QKC.
The released tokens are distributed as follows:
- 20% - for the pre-ICO and ICO;
- 15% - for the team;
- 15% - for the further development of the project;
- 5% - for the project advisers;
- 45% - for mining and marketing.
For the successful further development of the project, it is necessary to attract $20 million during the crowdsale, of which 16 million - during the pre-ICO, and the expected income of the ICO is only $4 million.
Thus, QuarkChain platform is a transactional system with a high-performance peer-to-peer node and is created for operations that require a large number of transactions and work with a large amount of data: advertising, IOT, AI, gaming, etc. Nowadays, many users are waiting for a more reliable and large-scale basis for work - QuarkChain will be an ideal choice for them.
Website: https://quarkchain.io/
White Paper: https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Telegram: https://t.me/quarkchain
Twitter: https://twitter.com/Quark_Chain
Facebook: https://www.facebook.com/quarkchain.quark.5
Medium: https://medium.com/@quark_30920
ANN: https://bitcointalk.org/index.php?topic=3587645.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049