Nowadays, you can hear about blockchain technology everywhere because of its advantages. However, it is facing a big problem: how to balance between the ability of extension and the security? “How to spread out blockchain’s feature?” is one of the core issues that blockchain technology has to solve.
In addition to, there are still a lot of problems that blockchain technology is facing such as the centralized evidence of the mining operations is making it impossible for the blockchain to be truly decentralized; the most recognized blockchains are not scalable for high transactional throughput, …
What is the resolution for those problems? It is Quarkchain – a new product that expected as one of the best choices instead of the recent blockchain.
Let’s explore it.
1. WHAT IS QUARKCHAIN?
QuarkChain is a 2-storey blockchain, the first floor is flexible sharding and chain on the second floor. Imagine Ethereum is a root a chain and it has many side chains, we have POA, we have chain of dApp (from the Loom Network - the new generation blockchain platform for large-scale online games and social applications), each side chain will be attached to the root chain of Ethereum. This is the simplest explanation of the two-tier approach.
Ethereum currently uses the ERC20 token (such as the EOS token, TRX ...) and when other side chains build, it will have its own token ER20. Instead of this, QuarkChain will give you an idea of how to use flexible block shake, a new token that will be added when there is a new blockchain, and each token will still be validated in Ethereum's main chain.
2. OBJECTIVES
Quarkchain aims to develop its own blockchain, a blockchain that extends scalability - up to 1 million transactions per second (TPS), according to the project - without compromising security and decentralization.
• Enhance scalability while ensuring security and decentralization.
• Enable seamless cross-compliance to ensure a quality user experience.
• Provide simple account management for customers; There is only one account for all the pieces.
• Providing open infrastructure for DApp requires high transaction throughput.
• Be an eco-driven.
QKC is the original Quarkchain token and it will act as the management currency in the ecosystem. It will be used to pay the network fee, as a means of exchanging value, and to reward community members for their contributions.
3. MAIN FEATURES
Quarkchain consists of two main layers that are in charge of the private duties. The first layer is the shards, which solves many small files of deals independently. The more number of strings separate, the large number of transactions that can be processed. The second layer - the original string - has the function of confirming transactions in the first string without performing transaction processing.
Quarkchain supports two kinds of the deal: cross-shard and in-shard. In-shard is the deal that has sending and receiving addresses in the same shard. Cross-shard is the deal with two kinds of these addresses in the different shards. The cross-shard’s supporting helps speed up the system.
Quarkchain supports managing the simple systems. In theory, we need a lot of accounts to access a string. Quarkchain develops a smart wallet that allows us to store all data and coin in many different strings, just need only one private key.
Quarkchain is supported smart contracts through EVM (Ethereum Virtual Machine). This resolution helps Quarkchain easily to compatible with existing Daaps.
4. DEVELOPMENT TEAM
Quarkchain is created and developed by a great team with many experiences master in technology and deep knowledge in many fields. They had worked in a lot of big corporation like Google, Dell, … However, most of them do not work for Quarkchain full-time.
Qi Zhou – Co-Founder and CEO – graduated from University of Posts and Telecommunications in Beijing, PhD of Institution Georgia Tech and has a thick experience at Google and Dell.
Zhaoguang Wang is a software engineer at The University of Transport in Shanghai, Master at Michigan University.
Xiaoli Ma – leader of project research group – with a wisdom and experience in Automatic and Optimized data transfer system field.
Besides, Quarkchain attracts many advisors who are the master at many field like technology, business, marketing…
5. WHY QUARKCHAIN?
The project addresses the main problem of electronic money, which is scalability. The latest test of 2,500 transactions.
The development team and advisor team are experienced in technology and worked in many large corporations. Also, this project received a lot of investments from Prengle VC, Liquid2 Venture, … This helps confirm the feasibility of the project.
There were sample products.
Good hypes with 62300 members on telegram, and this number is increasing at a high speed.
6. CHALLENGE
Extension is a competitive market. Quarkchain has to facing to a lot of strong components like Ethereum, Zilliqua, Fusion,…
The Quarkchain team does not have any good relationships or partners in blockchain technology, which will effects to the ability of spread out in the future.
7. CONCLUSION
Quarkchain is an attractive project that can help you get profit in a short-term investment. On top of that - unlike some recent projects like. Finding a high throughput compromise project for security or decentralization is a big plus. It is a very competitive space that they are entering and the market conditions are shaking.
However, it is optimistic if you follow and understand clearer about it before investing.
MORE INFORMATION
Website: https://www.quarkchain.io/
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf
Telegram: https://t.me/quarkchainio
Twitter: https://twitter.com/Quark_Chain
AUTHOR
Bitcointalk Username: Le Thi Hong Ngan
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1320823