QuarkChain aims to create a decentralized, highly scalable and secure blockchain that can handle up to one million transactions per second using a two-layered blockchain system.
The three fundamental pillars of Quarkchain’s blockchain can be seen in the following chart:
Quarkchain attaches equal importance to decentralization, scalability and security to become the most cutting-edge blockchain in the near future.
QuarkChain uses a two layered system that allows for greater scalability. The first layer consists of “elastic sharded” blockchains and the second layer has a root blockchain.
The first layer with “elastic sharded” blockchains can be broken down as follows:
The sharded blockchains on this layer are elastic because the amount can be increased or decreased as required.
The sharded blockchain processes a small subset of all the transactions that occur so they are considered “sharded” as they represent a small fragment of all the transactions occurring throughout the network. This is what enables QuarkChain’s scalability.
The second layer and the root blockchain:
The second layer serves the function of confirming the transactions that take place throughout the network. This is done by sending the block headers of the sharded blockchains that contain all the transactions to the root blockchain, the root blockchain then confirms these transactions by creating a new block with all of the block headers.
QuarkChain’s second layer system offers a higher amount of transactions per second whilst accounting for bottlenecks that occur from increased throughput such as computing power, data storage, and internet bandwidth.
QuarkChain incorporates several features to ensure decentralization of the network:
Collaborative mining driven by game-theoretic incentives to ensure when miners mine for their own selfish benefit that this behavior aligns with what is best for the overall system.
Mining difficulty algorithms are designed so that hash power is evenly distributed among sharded minor-blockchains and the root blockchain.
Each blockchain offers different rewards and difficulty levels so that weak miners can achieve similar levels of expected returns by mining solo when compared to joining a mining pool. This lessens the need for mining pools and results in less centralization.
QuarkChain supports smart contracts with the use of Ethereum Virtual Machine (EVM), sharded blockchains therefore run their own smart contracts local to their blockchain via EVM. This very, very important feature means that developers can easily port and deploy dApps built on Ethereum to QuarkChain once their main network is active. Ethereum will have to react quickly if he doesn’t want to stay out of the game.
QuarkChain currently has a private testnet live that is operating with 8 sharded blockchains with each shard performing 100 to 200 transactions per second (TPS). The total TPS for the network currently ranges from 1000 to 2000+ transactions per second.
In the following graphic you can see the Quarkchain´s roadmap:
Quarkchain’s goal is to build a blockchain capable of supporting industries ranging from fintech to gaming and social media. Will the next Facebook on Quarkchain work?.
QuarkChain has a great team and top-notch advisors who, together with the large community that supports the project, will make Quarkchain one of the most successful blockchains. Quarkchain currently has more than 80,000 followers on its Telegram channel. Really amazing, but, for once, the quality of the project lives up to the expectations it has raised.
Best wishes to the QuarkChain team.
You can find more information about the project in the following links:
Official website: https://quarkchain.io
Whitepaper: https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf
Telegram: https://t.me/quarkchainio
Twitter: https://twitter.com/Quark_Chain