Quarkchain ICO Review
I recently started reading more about cryptocurrencies in general, regarding blockchain technologies etc, but without getting too deep from technical perspective. This somehow ended up with me deciding to make reviews of ICOs (either starting soon or recently finished), using it as an excuse to get familiar with different aspects/technologies surrounding the crypto-world.
As a result, I decided to make a review of QuarkChain, one of the ICOs that caught my eye. One thing though, i will make the review in a bullet format (as much as possible), because many [pontential readers might get overwhelmed by a sized article in cryptocurrency, especially when they are not really familiar.]
What is QuarkChain? What are its characteristics and advantages?
- Decentralised blockchain architecture (multiple miners, higher level of trust)
- Focusing on scalability ( target is to be able to reach millions of transactions per second, tests mention already thousands are achieved)
- Maintaining security ( reshardable, dual-layered blockchain)
- It will support Ethereum smart contracts (EVM)
- Use of 2 layers , sharding and rootchain layer (not going into deep here, on layer 1 it uses shards for the process of the transactions and the root chain (2nd layer) secures the shards)
- Current existing blockchain(s) could be set into quarkchain as a 'shard' (another form of scalability, but on the blockchain layer)
Rivals - Competitors
- Zilliqa (also using sharding technology)
- Rchain
- Ethereum
- WAN
- EOS
Possible issues
- Mentions guaranteed security by market-driven collaborative mining. Creating incentive for hash power allocation on the second layer (root chain) doesn't sound as a 'technological security measure' to me. It does however, include the human factor as a possible security liability and tries to find a solution.
- Test network showed achievement of over a thousand TPS (transactions per second). When the number of nodes increase, unpredicted factors could weigh in, so predictions of smooth increase without any 'side-effects' is something that remains to be seen.
- Due to hashpower allocation, could it be susceptible to an attack of low hashpower? Not sure, just a thought...
ICO Details
Token: QKC
Cost: 1ETH = 31533 QKC
Hard Cap: 20,000,000
Total number of tokens: 10,000,000,000
Available for sale: 20%
Presale: no
Start ICO: KYC is ongoing as we speak
Roadmap
These are the main attributes of this ICO, without getting too technical, hoping the average reader could get a good grasp without having deep 'blockchain' knowledge.
P.S
It would be interesting to see QuarkChain start well (both tech wise and price wise), to see if after Ziliqa and QuarkChain more blockchains will move to sharding or not.
P.S2
Feel free to comment on aspects also negative of my article, im always looking forward to argumentative discussions!.
Whitepaper:: https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
QuarkChain Whitelisting/KYC Process:: https://steemit.com/quarkchain/@quarkchain/quarkchain-whitelisting-kyc-process
