Is it a new blockchain player ever changing blockchain rules?
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There have been three main 3C challenges in the blockchain ‘industry’:
Scalability,
Security,
Speed.
More to say, all of them stand in contrary to each other.
Finally, the winner will be a new/old comer, who could solve all the problems at the same time.
Generally, the history of science development shows that it is hardly possible to do all the things in the same time.
New coming blockchains are trying to solve some if any.
Quarkchain declares solving all above listed tasks in the best possible way based on today known blockchain technologies.
QuarkChain is doing that with two-layer blockchain — a Root layer and a Sharding layer with unlimited number of shards, which could unite in unlimited number of clusters.
The idea of sharding is not new, but combining the shard layer with the root layer could have some significant advantages on the blockchain:
- Speed
Yes, QuarkChain promise 1M TPS in-shard. This does not mean that you will receive the payment in a second’s fraction (it will depend if the payment is in-shard or
Cross-shard). Nonetheless, you will receive the payment in minutes, but total number of transactions on the net will be huge.
This is one of the points how speed could be connected with scalability.
- Scalability
Sharding layer is elastic. This means that the number of shards is unlimited and the more shards we will have in the sharding layer, the more transactions could be proceeded and Quarkchain blockchain transaction capacity will increase.
- Security
Quarkchain uses POW consensus and because 50% of hash power are on the root layer, shard layer have only 50% of total hash power on all the shards together.
So double-spending attacker will need 25% of all hash power of Quarkchain but this could be hardly possible because of planned high decentralisation of the sharding layer.
Pros and Cons of QuarkChain approach.
Pros
High TRS speed, especially of in-shard operations.
Scalability (there are now visible limitations).
Security is still on an appropriate level.
Cons
Probability of double spending attack is two times higher than on the ordinary POW blockchains but it is still high and almost impossible because of supposed high number of nodes.
We cannot see 1M TPS in the test net. Test net demonstrates TPS of 2,000 using just a few AWS nodes. Obviously, with more nodes on the chain higher scalability/speed could be achieved.
Let see what will happen, but QuarkChain https://www.quarkchain.io/ with its TPS speed, two layered blockchain structure etc., have all the possibilities to enter the crypto community elite.