If you haven’t heard about QuarkChain, you might be living under a rock. Because this ICO has been receiving rave reviews from various social media influencers, and review platforms such as Icodrops.
QuarkChain, aims to solve the trilemma that face’s blockchain technology, by utilising sharding technology! What is this trilemma?! Scalability, Security and Decentralisation. For instance Ripple (XRP) is a very fast blockchain (thousands of TPS), but it is very centralised! This is not an ideal solution! As its not really any different from centralised power structures that already exist!
“Blockchain systems can only have at most 2 of the following principles” Vitalik Buterin
Why do we need a High Throughput blockchain, like QuarkChain?
QuarkChain wants to achieve 1 million+ transactions per second (TPS), this is so important because if we want mainstream adoption of crypto currency’s or to utilise IoT technologies, it must be robust to withstand heavy loads.
Look at the recent scandal where the Ethereum blockchain. When it was brought to its knees by crypto kitties, which is just one dApp running on their blockchain. Ethereum is not ready for mass adoption, we need a solution that is. Step in QuarkChain.
Its worth mentioning at this point, that QuarkChains test net, has already achieved 2000TPS, this is insane! A working product with high throughput, this project is not just a dream on a white paper the team is executing their vision.
How will they solve this problem?
QuarkChain, will use sharding tech to create a 2-layer blockchain system! One chain will have elastic sharding principles, stretching as the network requires. This chain will be confirmed and verified by the Main root chain, to keep the network secure.
Efficient communication between the chains, will allow cross shard transactions to take place in minutes, and will scale up as cross shard transactions increase. You will be able to manage all of these transactions from one address, creating a nice user experience.
Attributes of QuarkChain
Use’s proof of work and supports GPU mining. (a long tested proven consensus)
As network size increase’s, the project will scale (TPS) as the number of nodes increase.
Supports cross shard transaction capability
Avoids 51% attack, by delegating 50% or more, hash power to the main root chain, to avoid double spending attacks.
Scalable to 1million TPS+
Aims to Support dAPP’s that require high transaction rate, and IoT Technology.
Conclusions
This project seems like it could be one of the best for 2018, quarkchain has a great team with staff from big tech companies such as google and facebook. They are bridging the way for mass adoption, which requires a highly scalable block chain solution. With a theoretical 1.7M TPS, this would not only be the best performing block chain to date, it will also blow away other centralised value transfer mechanisms such as VISA, which can only handle a load of 4000~ TPS.
Join the next step in the evolution of Blockchain technology, by participating in their ICO, be fast as im sure this will sell out rapidly, and there are not many tokens for sale!
ICO Details!
ICO Public white list will open on May 7th at 00:00:01 AM PST
Token Metrics As Follows: (Private sale sold out)
What do you think about project share your thoughts below and this ico change your life