Peer-to-peer networks by their very nature are vulnerable to security breaches, writes Simon Kilvington, peer-to-peer System transaction just keep improving by the day, the revolution of peer-to-peer systems have grown into the blockchain industry and has found its way through several upgrades and improvements and thanks to the blockchain it just got better with Quarkchain.
Simon, also writes that peer-to-peer systems can be a useful tool for information, value and logic sharing within an organisation and with external partners - but only if the security implications are understood. Quarkchain is at the frontier in pioneering the future of peer-to-peer transactional system.
In reality the problem faced by the peer-to-peer ecosystem can be related to stability in the long term, security and trust.
Quarkchain is a startup raising fund at the moment to be able them provide solutions to this challenge. According to the whitepaper, the Quarkchain idea was inspired by an extensive experience in the developing of a powerful large-scale distributed system in a centralized world that could handle billions of tansactions per-seonds. The team was able to come up with a blockchain solution to create a unique solution on the blockhain to addres scalability and largely expand the boundaries of blockchain in usability without damaging its safety and decentralized features which in its self is important.
This can be said to be a giant step for the entire blockchain industry in a whole as this would establish a platform that seamlessly supports distributed social media, high frequency trading, internet of things, gaming and the financial industry.
In essence, Quarkchain is a Permission-less, decentralized network with its own blockchain that is secure and scalable that aims to deliver over 1m on-chain transaction per-second by applying sharding technology. At the time of writing this article it is show on Quarkchain website that transaction per-second is at 2279.37TPS which is stated to be a randomly picked testnet data. Quarkchain is changing the world with a revolutionary blockchain technology set to disrupt the peer-to-peer transaction industry.
With the problems faced by the blockchain such as security, decentralization and scalability it is important to note that the solution Quarkchain is providing a means of partition of data to break database into smaller parts known as Sharding. Another solution would be tradeoffs, the Idea is since the demand recently has increase in blockchain transactions the goal of blockchain is to extend the scalability as high as possible while keeping security and decentralization uncompromised.
Amongst Quarkchain core features, which they intend to us and implement this blockchain solution are; anti-centralized horizontal scalability expansion, efficient and secure cross shard transaction, simple account management and cross chain transactions.
The Quarkchain blockchain would enable real world use cases such as;
ENABLING AND EXECUTING OF SMART CONTRACT – Quarkchain would support smart contract via the ethereum virtual machine (EVM). Current dApps built on the top of the EVM can be directly deployed on the Quarkchain platform.
ACCOUNT MANAGEMENT (PRIMARY AND SECONDARY ACCOUNT) – Users would be able to manage all addresses in all shards via a private key, this means that a user can have the same number of addresses as the number of shards.
ON-CHAIN AND OFF-CHAIN TRANSACTIONS – it is important to note that Quarkchain would be able to support both off and on chain transactions. Where a transaction need to access external data off the Quarkchain blockchain(off-chain), the double layer sharding structure makes this on-chain. Thereby making it possible to communicate between between blockchains.
SMART WALLET – The wallet would simply make account management easier for both making transfer and managing the smart contract.
For more information about this Blockchain Project kindly read through their whitepaper carefully and refer to their telegram group for more questions or to interact with the over 40 thousand community members.
Website: https://www.quarkchain.io/
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf
Telegram: https://t.me/quarkchain
Twitter: https://twitter.com/Quark_Chain
Facebook: https://www.facebook.com/quarkchain.quark.5
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