QUARKCHAIN NETWORK
QuarkChain is a high capacity blockchain system that aspires to attain over hundreds of thousands of on-chain transactions per second (TPS). It is a blockchain that is decentralised, secure and scala-ble. It provides an endless array of possibilities and benefits to the QuarkChain community.
QuirkChain uses tokens (QKCs) that are distributed on the Etherium blockchain. After the launch, the ERC-20 compatible tokens will be converted to mainnet’s tokens by pre-mining. There are cur-rently 10 billion QKCs in supply that will be distributed proportionally to the team, the advisors, the foundation, the miners and the community.
Because lots of dApps are awaiting a more scalable foundation, QuarkChain is poised to support IoT, AI, big data and peer-to-peer high transaction dApps.
QuarkChain is able to use sharding technology to make larger databases more scalable, thereby achieve higher TPS.
Another benefit of this technology is that miners do not have to join mining pools in order to find a blockchain. Because they do not have to gain additional processing power from others, miners are able to keep all the rewards of their hard work to themselves. There is also the use of cheap nodes clustered together to form a super-full node to encourage decentralisation.
All transactions are secured by a 50% hash power that increases the speed at which a computation completes an operation in cryptocurrency code. Double-spending attacks are prevented so that a set of coins cannot be spent on more than one transaction. This reduction of double-spending attacks will be upheld by the decentralised nature of QuarkChain.
Aside from the innovative sharing technology that breaks down larger databases into more manage-able ones, QuarkChain supports cross-shard transactions. These cross-shard transactions can be confirmed in minutes, and its through-put increases linearly along with the number of shards. Users are able to use the cross-shard transactions by initialising the process with the tx input. For the tx output to realise the transaction, it waits for the root chain to confirm the transaction from the pro-vided input.
On top of that, only one account is required in order to manage all the shards. As a result, all the cryptocurrencies from different shards are conveniently stored in one wallet.
The thing that sets QuarkChain apart from other payment networks such as Alipay is its ability to maintain the network’s decentralised system and security while increasing the transactions per second. The network is able to achieve this high TPS through its amazing features.
QuarkChain uses proof of work (PoW) as the accorded procedure for the root chain. This method has been tried and tested by Bitcoin and many others as it helps scale the transaction processing considerably.
Members of the public can participate as volunteers to test the testnet trial. QuarkChain is currently looking for 100 volunteers to help them test out testnet. All a candidate has to do is email their resume to [email protected] along with their contribution to existing projects such as GitHub commits.
It is also crucial to note that scammers are everywhere, and as such QuarkChain has issued an alert, warning that there is no pre-sale, and money should not be given to dummy sites.
The QuarkChain team consists of several high flying professionals such as Qi Zhou, who is the founder of QuarkChain, a former Googler and expert in high performance systems. There is also a group of advisors like Mike Miller, who is the Founder of Cloudant.
The great thing about QuarkChain is that they are an open book, and information that the public needs about their trial run data is literally available on the easily accessible home page.
With such a promising future in the cryptocurrency industry, along with the efforts of the talented staff and the wisdom of the advisors, QuarkChain is the perfect place to be.