QuarkChain is innovative blockchain architecture, aimed at supporting the world’s commercial standards. It provides safe, decentralized and scalable blockchain with the anticipated 1 000 000 TPS.
Main features of QuarkChain:
1. Shared two-level blockchain. The first level is an elastic shard layer, and the second is a root blockchain, which supports the blocks from the first layer.
2. Maintenance of security by means of shared mining (described below).
3. Anti- centralization. It is achieved by horizontal scaling. The formation of clusters from small nodes for creating super nodes is accepted.
4. Easy account management. You need only one account for managing all accounts in various shards, while all the cryptocurrencies are stored in one purse.
QuarkChain is based on the following principles:
· Increase of scalability with a guarantee of decentralization and safety;
· Possibility of conducting cross-shard transactions without losing the proper level in the user’s visual perception. In other words, you’ll never know whether you have an inter-shard or cross-shard transaction;
· Easy account management;
· Open standard for supporting the decentralized applications;
· Ecosystem, driven by the initiatives.
Illustration of two-layer blockchain QuarkChain. Each main shard produces the subset of transactions, while the root chain confirms the blocks of all shards, including the titles of blocks in the main blockchain.
In the modern blockchains, every block has two basic functions — the register, which includes the verification of blockchain status, conducts the transactions and records the results. The second function (verification of transactions) is achieved by mining. The main purpose of mining is to prevent the hackers from attacking the network, making their attempts to fork the new block economically unprofitable.
QuarkChain decided to do otherwise and divided these functions into two layers, thereby reinforcing the scalability and safety.
The system has one layer of dividing blockchain, which contains a list of all the main blockchains (shards). Every shard (independently of other) processes a subset of transactions. Consequently, with an increase in the number of shards, the capacity of the entire system enhances as well.
QuarkChain has a root blockchain, which only confirms the blocks of the other layer of shards, but doesn’t conduct any transaction. However, to prevent the hackers from attacking the root chain, 50% of the whole system processing power is allocated for its mining.
Shared mining
Hash capacity is evenly distributed between the shards. The root blockchain possesses 50% of all system capacities. Thus, to conduct a double waste, the miner must have at least 25% of all system capacities. Besides, the system can reconfigure the distribution of hash capacities and shift up to 100% of capacity to any of the chains. It follows that the distribution model can be improved at any point of time. Every blockchain of Quark has varying mining complexity, and, accordingly, different awards for works. Miners can choose any blockchain of many. This opportunity creates an open economic model, where the miner is customer with his/her own set of hash capacities, and the blockchain is a seller of the mining awards.
Business development
Quark has a strong infrastructure for developing Dapps; the developers call them Dapps2go, because they’re aimed at the mobile applications. According to the team, it will be a real pleasure to create Quark-based applications. A certain quantity of QKCs (how much is yet unknown) will be allocated to encourage the developers of decentralized applications.
Conclusions:
1. Whitepaper technology has an accessible description. VP doesn’t abound with technical materials, and GitHub is closed, which is why it’s impossible to judge the code.
2. The project promises to use cross-sharding. That’s great.
3. Project CEO was a common programmer without the manager’s experience. That’s definitely a huge drawback.
4. Marketer had a good CV. That’s a plus.
5. Main developer — All Star.
6. All advisers are very cool. They form a great mixture of businessmen and techies.
7. Partnership with the foundations “BlockVC” and “Pre angel Fund” are definitely a huge plus.
8. Hard cap of $20 million is fantastic, even though there are no metrics for token distribution.
9. The presence of MVP is excellent.
Official website: http://quarkchain.io/
Twitter: https://twitter.com/Quark_Chain
Telegram (EN): https://t.me/quarkchainio
