Over the past couple of years, the cryptocurrency market has witnessed a rapid growth, thus attracting many new investors coupled with a rise in the total market capitalization and number of digital assets. The year 2017, was a major mark for the cryptocurrency market the normal law of market behaviour was flouted, coupled with the inundation of new participants and an upsurge in market cap and digital assets. This also led to an increase in the number of cryptocurrency wallets.
Also, the disruption of blockchain technology across many sectors have led to several infrastructural blockchains trying to pioneer the rebirth of the digital ecosystem. However, the major issue that all infrastructural blockchains are having, is difficulty in resolving is the issues of scalability. Other bothering issues which currently exists and remains yet unresolved are security and decentralization. As such, a platform is needed to address these current gaps. Quarkchain aims to bridge this gap by revolutionizing the blockchain technology by providing a solution to intensify the scalability, allowing an easy cross-shared transaction, easy account management for clients and open standard to support several DApps.
Quarkchain offers a super full node protection for a secure and highly scalable blockchain. In its bid to revolutionize blockchain, it aims to enhance the current TPS capacity to about a million TPS to support sectors with a high demand for TFS.
ARCHITECTURE
Several scalability issues identified by Quarkchain are sharding and lightning networks.
Currently, most centralized exchanges make use of this to tackle the scalability issue. However, embracing sharding on an existing blockchain is quite complex, and issues such as cross-shard transactions, single shard take-over are often experienced.
The Quarkchain solution consists of two layers with two different functionalities. First, is the elastic sharding blockchain layer which consists of shards i.e. minor blockchains. The network will enable each shard to process a subset of all transactions separately. As such, the shards will have the capacity to process more transactions simultaneously, as the number of shard rises over time. This process will enhance the capacity of the system.
The second layer is the root chain which is designed to confirm all blocks from the sharded blockchains. It is pertinent to note that an enhancement of security requires a huge amount of data per transaction. In turn, this will result in low transaction velocity and huge storage.
However, the root chain was built solely for security due to its strong capability to protect the blockchain from cyber-attacks. An independent shard has a weak hash power because the overall hash power is attenuated to the parallel chains used to expand horizontal scalability. This intensifies scalability and the security of the system as 50% of the total hash power is assigned on the rootchain network.
In the case of a single blockchain network where a feeble miner gets a high return, provided the hash power of the single blockchain also grows, the miner is still expected to connect to the mining pool to gets his benefits. However, the QuarkChain network will offer a more decentralized network where a feeble miner does not necessarily have to connect to a mining pool to collect his incentives.
Additionally, the use of collaborative mining provides the rootchain with enough hash power via its structure for hurdle and inducement. This process removes the necessity for a centralized mining operation.
Key distinctive features of the Quarkchain Network:
• Anti-centralized horizontal scalability expansion
• Effective and secure cross-shard transaction
• Easy account management
• Cross chain transaction
• Contribution incentives
The QuarkChain Network has been designed to house off-chain transactions because some applications require both on-chain and off-chain management. The network will also house on-chain transactions as well. Although, on-chain transactions require more computational power, but yet offer more pliability and better security.
Through the use of Ethereum virtual machine (EVM), the network will aid smart contracts, thereby enabling existing dApps configured on the EVM with the capacity to directly switch over and be deployed on the QuarkChain network platform. The team is led by a team of experienced tech experts.
TEAM
The Quarkchain development team has a combined experience which spans across various sectors such as high-performance systems engineering, software development, marketing, research and development.
Token Sale/Distribution: The QKC token will be issued in the form of an ERC-20 token, and will function as a utility token to fuel the QuarkChain network platform. The maximum number of tokens which will be generated is 10,000,000,000 (10 Billion).
Token symbol: QKC
Total Supply: 10,000,000,000 QKC
Current Price: 1 ETH= 31,533 QKC
No new QKC tokens will be generated after the token sale.
Kindly visit https://quarkchain.io/ for more information.
Whitepaper:https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Twitter: https://twitter.com/Quark_Chain
Medium: https://medium.com/@quarkchainquark
Telegram: https://t.me/quarkchainio