PROJECT OVERVIEW
QuarkChain is a blockchain that utilizes sharding to provide a high-capacity peer-to-peer transactional system. It will consist of two main layers – the sharding layer, which allows for high throughput by effectively distributing data, and the Root layer, which serves to confirm the blocks of the first. QuarkChain is planning on providing the world with a decentralized transaction system that will manage to provide a perfect balance of scalability and security, the project is going to make use of a number of innovative techniques in order to make this possible and provide the world with a much faster and more transparent transaction platform. The main features of Quarkchain are:
1. Reshardable two-layered blockchain: Quarkchain consists of two layers of blockchains. We apply elastic sharding blockchains (shards) as the first layer, and a root blockchain as the second layer that confirms the blocks from the first layer. The second layer that confirms the blocks from the first layer. The second layer is flexible to be resharded as needed without changing the root layer.
2. Guaranteed security by market-driven collaborative mining: To ensure the security of all transactions, a game-theoretic framework is designed for incentives, where at least 50% of overall hash powers are allocated to the root chain to prevent double spending attack on any transactions.
3. Anti-centralized horizontal scalability: In any blockchain network with a high TPS, a super-full node can be extremely expensive, which encourages centralization. In contrast, QuarkChain allows multiple cheap nodes forming a cluster to replace a super-full node.
4. Efficient cross-shard transactions: Cross-shard transactions in QuarkChain can be issued at any time, and confirmed in minutes. The speed of cross-shard transactions increases linearly as the number of shards increases.
5. Simple account management: There is only one account needed for the entire blockchain (shards) in QuarkChain. All cryptocurrencies from different shards are stored in one smart wallet.
PROJECT PROGRESS
The QuarkChain project is quite ambitious and is being led by a capable team that consists of personnel with relevant skillsets and a good grasp on software thanks to their career backgrounds. The advisory team has a good mix of talents, all of its members have decent business development experience, impressive software related backgrounds and two of them are experienced blockchain investors as well. 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.
TEAM
Qi Zhou is Founder and CEO of QuarkChain. He has software engineering experience with the likes of Google, Facebook, and EMC, where he developed sharding and clustering solutions. Qi holds a PhD from Georgia Tech in Electrical and Computer Engineering.Yaodong Yang is a Research Scientist with the QuarkChain ICO. He is the Cofounder of Demo++, a startup incubator. He is also a Prof. at Xi’an Jiaotong University and holds a PhD in Engineering from Virginia Tech.Xiaoli Ma is also a Research Scientist with QuarkChain. She currently serves as a professor at Georgia Tech and is an Institute of Electrical and Electronics Engineers Fellow.Anthurine Xiang serves as CMO. For the last 4 years Anthurine has worked in Silicon Valley, with companies such as LinkedIn, Chartboost, Beepi and Wish. She holds an MSE in System Analysis and Economic Management from Johns Hopkins University.Below is a list of the advisors working with QuarkChain:
- Leo Wang – Head of PreAngel VC and prolific crypto investor
- Mike Miller – Liquid2 Ventures, Founder and Chief Scientist at IBM Cloudant
- Bill More– Founder/CEO of DSSD, later acquired by EMC
- Arun Phadke– Professor Emeritus of Electrical Engineering at Virginia Tech
As the project progresses, QuarkChain are adding new members to the team.
ROADMAP
- Q1 2018 – White paper and developing verification code 0.1 proof of concept
- Q2 2018 – Release verification code 0.2 and implement Testnet 0.1 with Wallet 0.1.
- Testnet 0.1 supports basic transactions including both in-shard and cross-shard transactions
- Q3 2018 – Release Testnet 0.2 and Wallet 0.2.
- Testnet 0.2 supports further features such as smart contracts, reshard, etc.
- Q4 2018 – Release of QuarkChain Core 1.0, Mainnet 1.0, together with Smart Wallet 1.0
- Core 1.0 will provide basic functionality and basic optimization (e.g. GPU support) for QuarkChain.
- Q2 2019 – Release of QuarkChain Core 2.0, Mainnet 2.0, together with Smart Wallet 2.0
CONCLUSION
- With an active presence on social media and its Telegram The project has a very large following, the development team communicates frequently with the community through all channels. It currently has over 84k members on Telegram.
- A development team with an impressive background in software development, the advisory team offers a satisfactory mix of relevant talents as well.
- The project has already released the initial version of its TestNet and its verification code, and more updates are lined up.
- QuarkChain integrates with Solidity, which is by far the most popular language used to program dApps. For those dApps built on Ethereum that need a high throughput, it will be easy to port over to QuarkChain, providing a low barrier of entry to adapt the platform.
This is Absolutely one of the best Projects of the Year considering what they have achieved and what they intend on continuing to achieve. With a public Testnet already live and operating on over 2000k TPS The sky is the stepping stone for this Project.
For more information about the ICO, please visit the following links:
Website : Quarkchain.io
Whitepaper : quarkchain.io/quark.pdf
Blog : medium.com/@quark_30920
Telegram: t.me/quarkchain.io