Today, forms of our recent communications, knowledge and economy have been rewired, thanks to decentralised and trustless approach of blockchains as Bitcoin and Ethereum. With the growing application of blockchain in the world’s commerce, the current transaction speed would not be possible. Therefore, the extension of scalability to its utmost level by maintaining the appropriate level of decentralization and security is the ultimate goal of QuarkChain.
The QuarkChain aims to meet the global-wise commercial standard providing a decentralised, secure, and scalable solution for blockchain with the focus on delivering 100,000+ on-chain TPS. Following are the core characteristics of QuarkChain:
Reshardable two- layered blockchain: Quarkchain comprises two layers of blockchains. First layer includes an application of elastic sharding blockchains and second layer comprises of root blockchain. The first layer is flexible to be resharded as needed without changing the root layer.
Guaranteed security by market-driven collaborative mining: A game-theoretic framework is designed for incentives in order to ensure the security of all transactions with the allocation of at least 50% of overall hash powers to the root chain with the aim of preventing double spending attack on any transactions.
Anti-centralized horizontal scalability: As any blockchain network having greater TPS requires an expensive super-full node that promotes centralization. QuarkChain on the other hand, replace a super-full node by allowing multiple cheap nodes to form a cluster.
Efficient cross-shard transactions: QuarkChain can issue cross-shard transactions at any time and confirm within minutes. The speed of cross-shard transactions is directly proportionate to the number of shards.
Simple account management: Only one account is necessary for the whole blockchains in QuarkChain where all cryptocurrencies from various shards can be preserved in a single smart wallet.
Turing-complete smart contract platform: Turing-complete smart contracts are supported by the QuarkChain and has adopted the Ethereum Virtual Machine(EVM) which easily allows migration from EVM Dapps to QuartChain Platform.
(For more details visit: https://quarkchain.io )