QuarkChain Weekly AMA Summary-06/09/2018

quarkchain (40)in #quarkchain • 6 years ago (edited)

As many of you already known, there is a weekly AMA (ask me anything) on telegram/wechat group every Saturday, from 7-8 PM PST. This is the summary for AMA of last week. We are always happy to take feedback and answer your questions, see you all on this Saturday!

Part 1: Marketing Questions

Q: What’s strategic reason that you are debuted on Binance?
A: Binance is a well respected exchange. Their team has reviewed our code very carefully and interviewed us several rounds. As we all know, Binance is hard to get listing, and there are very few projects can be debuted on Binance. Being one of the projects got debut listing on Binance would help to differentiate us with other ICOs dramatically.
Q: How come 300 million circulating and like 10 billion in total? So little circulating!
A: Please note that 40% QKC will be used for MINING and is already locked by smart contract. Private sale is locked to protect public sale investors. The first release of private sale is 10% and it will be released in about ONE MONTH after the QKC is listed on exchange. Other token allocation includes 15% for team, 15% for foundation, and 5% for advisors. These are all locked up to 2 years with vesting plan using smart contract.
Q: Why less and less news come after public sale (especially when fudders prove their power) instead of so many good news before that? Why the team is not active to fight against those fudders lead to the significantly fail in price?
A: Actually we are making steady progress technically. But maybe due to the process of KYC is over, we did not send out messages frequently. As for the fudders, we already tried our best to clarify (please see pinned messages in Telegram and our latest twitter). All short term hypes will be gone eventually and we need to focus on the project/tech more after public sale. For fuds, they will not stop no matter what you say. We tried and we do not want to waste our time arguing with them. Instead, we want to put more time to listen to your valuable comments and feedbacks on the project itself. The thing we care most is the current community, not the outside fudders. We understand that there are some fudders in our trading channels, we will be more strict and careful on the rules in those channels.
You can find more details about our response to fudders via this link:
https://steemit.com/technology/@quarkchain/response-to-the-article-quarkchain-red-flags-we-know-something-you-don-t-know
Q: Will CEO come to the meetup in Seoul? Any plan for the future?
A: Yes. CEO and other core team members will attend the meetup on June 15th, 7PM at Seoul. In the near future, we will organize more meetups and events in Korea.
Q: Are you working on big partnerships?
A: You already knew some of them. We will release more by the end of this week.
Q: Will you have weekly evolution reports? And where can we check the Steemit if we miss AMA?
A: Yes, we will keep having weekly report and you can check it on our steemit page.
Q: Can you let us know more details about QKC’s meeting with Google ABC?
A: We had a very deep and long discussion with Google ABC and received many good feedbacks and comments. This will be summarized on our Steemit.
Google ABC, short for Google ABC Blockchain Community, is a group of Googlers who are interested in blockchain technologies. We meet up regularly to discuss about blockchain technology and projects. They are located on Building 43, 1600 Amphitheatre Pkwy, Mountain View, CA, 94043.
Q: Do you think you should focus more on product than marketing?
A: Different periods, one needs to focus on different things. For myself (CEO), at the beginning, I was switching between marketing and product. Recently, I focused a little bit more on marketing due to the private and public sales. In the following, I focus more on product. I need to mention that I am very proud of QuarkChain team which contains a strong marketing group and an efficient engineering group.

Part 2: Technology Questions

Q: How different is the upcoming testing environment from the current one? When will you release public testnet? Any idea when 100k tps will be possible in QKC? I know RN is like 2k+.
A: We will launch the public testnet at the beginning of July and from end of May there are 100 volunteers testing it. It will have more TPS and more nodes, more clusters and smart contract support. The mainnet 1.0 will be released on Q4 2018. Our current plan is to achieve 100k TPS on Q2, 2019 when we release mainnet 2.0.
Q: How does cross shard communication work in QuarkChain?
A: The QuarkChain Network fully supports cross-shard transactions as first-class citizen, in a sense that:
Any user could issue any cross-shard transaction at any time;
Cross-shard transactions can be confirmed in minutes;
The throughput of cross-shard transactions could be scaled linearly as the number of shards increases.
In short, cross-shard transaction is the almost same as in-shard transaction except that the root chain needs to confirm the block header of the transaction before spending the output of the cross-shard transaction
Q: How many master nodes have been used on the actual testnet QKC declares? How many nodes have been used on the actual testnet QKC declares?
A: You must be confused us with EOS. How do you define master nodes? Testnet right now has 5 clusters (which are equivalent to full nodes in Ethereum). There will be significantly more clusters in the public released version. Each cluster has one master server running root chain and a bunch of slave servers running shards.
Q: What difference is there between QuarkChain and Zilliqa?
A: You can find an answer there:
https://steemit.com/quarkchain/@quarkchain/10-chanllenging-questions-and-answers-from-quarkchain-in-new-york-consensus
Apart from that, Google and Facebook are first started adopting Sharding technique, and they are very experienced of doing it. Our core engineers previously worked at Google and Facebook, and their responsibility was using Sharding to solve Scalability for the low-level development of the large distributed system.
Q: Is that possible to say a DApp to seamlessly run on multiple shards if one shard cannot provide the necessary throughput? If that possible, wouldn’t that create somewhat of a bottleneck as well? As cross shard transactions are slower.
A: There is a topic of scalable smart contract. We are working toward to this feature, and a lot of interesting things are ongoing. Also it depends on how the DApp is configured as well. Take CPU as an example, once Intel/AMD reached the clock speed limit, they realized multi-core should be the next design paradigm, which means performant software should also change the paradigm to fully leverage multicore CPU architecture
Q: "Root Chain will be having 50 % difficulty and does not process any transaction, rather it provides confirmation for the transactions done by the shard. If it does that, what is the incentive for the miners to point to the root chain. The incentive structure is not clearly defined.
A: "Root Chain will be having 50 % difficulty" not sure this comes from. Our sentence is "Root chain will have 50% hashpower". In addition, there will be incentive for the miners to the root chain because they will collect coinbase rewards by confirming sharded block headers.
Q: Number of shards - How does the number of shards are selected, how many nodes will be there in the number of shards ? As per the white paper, each shard will have its own difficulty and reward mechanism. How is it defined? so it means miners can switch over between the different shards depending on mining difficulty and can try to get maximum rewards? how is this mitigated? Is there any sort of EDA or there is limitation for miners switching between shards ? How is this more decentralized than normal PoW solution?
A: The number of shards are determined by the network situation, and could be done by our governance model. The miner could mine any shards, depending on block reward, difficulty, and network propagation of the major miners of the shard. More decentralized is mainly because a miner could mine a shard directly instead of joining a mining pool. The motivation of joining a mining pool is to collect reward timely as an exchange of transaction fee of pooling. By mining the shard directly (as the difficulty is lower), the miner could save transaction fee and encourage more decentralization.
Q: Clustering - It is a good idea where the "honest nodes" are clustered to run as a super node and will involve the root chain to confirm the transactions between them. There will be incentive for the nodes to form clustering. How does this "Honest nodes" are selected for clustering or is it something which the nodes can do themselves ? if they can do themselves? what prevents the malicious miners to collude and form a cluster of their own? how is this mitigated?
A: Cluster is a replacement of a super-full node, but still serving as a peer in the network. Therefore, as long as there are sufficient peers (clusters) in the network, any blocks from malicious cluster (peer) will be rejected. At the moment, a smart contract can be only executed in one shard. A cross-shard transaction is to transfer QKC from one shard to another shard, and thus a user with a single private key will be able to execute a smart contract transaction in any shard. A cluster - as a replacement of a super-full node - maintains the full ledger of the network and thus knows all chains. In addition, double spending attack is mitigated by root chain's hash power via root-chain first consensus algorithm. Please refer our white paper for more details.