What is QuarkChain ?

QuarkChain Is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. The main idea of QuarkChain was inspired by their extensive experience in developing powerful large-scale distributed systems in centralized world that handles billions of TPS. They manage to apply the technologies on blockchain to create their unique solution on blockchain scalability problem. The solution aims to largely expand the boundaries of blockchain usability without damaging it’s safely and decentralization feature. The network they are building is free of congestion, and thus affordable for everyone with different purposes. They envision such a network applied to every industry that demands higher TPS, and encourage these industries to recognize their blockchain tool as a game-changer in the near future. Also, QuarkChain aims to build a seamless platform to support distributed social media, high frequency trading, Internet Of Things (IOT),gaming, and financial payments.

Main Features of QuarkChain

Reshardable two-layered blockchain:

QuarkChain consist of two layers of blockchains and They apply elastic sharding blockchains(shards) as the first layer,and a root blockchain as the second layer that confirms the blocks form the root layer.

Guaranteed security by market-driven collaborative mining:

To ensure the security of all transactions,a game-theoretic framework is designed for incentives, where at least 50% of overall hash powers are allocated to the root chain to prevent double spending attack on any transactions.

Anti-centralized horizontal scalability:

Traditional blockchain in technologies require every node to fully validate all blocks and reject any block that is invalid. Similarly, the node in QuarkChain that validates all minor blocks and root chain blocks is calledsuper-ful node.In any blockchain network with a high TPS, a super-full node can be extremely expensive, which encourages centralization. In contrast, QuarkChain allows multiple cheap nodes forming a cluster to replace a super-full node. The following figure show Illustration of horizontal acalability of QuarkChain network.

Efficient creoss-shard transactions:

In shard transactions, where the input and output addresses of the transaction are in the same shard. Cross-shard transactions,where the input and output address are in different shards. In the Cross-Shard transactions, there are more difficult because of the synchronization between two shardsCross-shard transactions in QuarkChain can be issued at any time, and confirmed in minutes. The speed of cross-shard transactions increases linearly as the number of shards increases. The QuarkChain 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.

Simple account management:

There is only one account needed for the entire blockchains (shards) in QuarkChain . By allowing users to handle only one account this will simplify the management process. All cryptocurrencies dorm different shards are stored in one smart wallet.

QuarkChain Technology

QuarkChain is designed to;

Enhance the scalability while maintaining security and decentralization
Enable all in one transactions for user Quality of Experience (QoE)
Open standard to support various dApps
Provide simple account management for clients
Provide an incentive driven eco-system

QuarkChain Token (QKC) and Eco-System

QuarkChain will mainly focus on the financial tech areas and game industries. A new token will be introduced which will represent the value of the QuarkChain and is also referred to as the “Value Carrier”.Heard of Ethereum? Well similarly to the popular Ethereum, each transaction on QuarkChain needs to pay a fee. The QKC has a powerful transaction processing capability. Because of this feature, the transaction fee required will be of very low value. The fee can only be paid by QKC again.QuarkChain is a peer to peer system using economics. How would this be helpful one might ask? Well because it will produce positive feedback which will promote the system and in return motivate people within the community to contribute towards the development of the system.