Introduction
Most of the technology innovation on the planet has been done to make human life easier. People innovate and implement the latest development in the society to create change. Cryptocurrency is the latest tool for change in the way people pay, and perform transactions in the traditional world. From hospitality industry to the e-commerce industry, everyone has found it quite useful and suitable for their seamless payment. UNICEF has started to look into the cryptocurrency for the purpose of fundraising and removing corruption from the fund distribution.
There are many advantages of the cryptocurrency compared to the fiat currency. But as we know that a great tool cannot exist without challenges. And, the challenges for the cryptocurrency environment are aplenty. Lack of proper rules and regulation regarding cryptocurrency payment in many parts of the world has always cast a shadow of doubt on the future of digital currency. The minuscule number of real-life applications based on the cryptocurrency is another major challenge for the industry.
Solution offered
QUARKCHAIN is the latest blockchain solution offering 1,000,000 transactions per second. Open and permissionless, it is a two layer blockchain solution for efficient transactions among businesses and individuals. The first layer is shards and the second layer is the root blockchain that confirms the blocks of the first layer. To prevent double spending attacks on the transactions, 50% of the hash powers are allocated to the root blockchain.
Anti-centralized horizontal scalability, efficient cross-shard transactions, and simple account management are some of the many key features of the platform. Collaborative mining is designed to provide equal rewards and incentive to the miners on the platform. Security, scalability, decentralization and high throughput are the key principles on which the blockchain network works. They have designed a flexible network that can be adopted according to the changing needs of the networks during the transaction.
To solve the issue of the super full node, they have adopted a cluster model in which group of nodes collectively validate the transaction, and thereby manage to produce the same throughput as a super full node. The incentive is also awarded to the miners to form clusters in the network. On-chain and off –chain transactions are possible on the platform which is required for some of the applications.
ICO INFORMATION AND TEAM
10 billion QKC Tokens are created for the project. One ETH is equal to the 31533 QKC. 20% of total tokens are utilized for crowd sale. The token sale will start on 7th May 2018 and continue for two weeks. The funds will be utilized for the purpose of the development and marketing of the platform. A team is an experienced group of professionals from the field of blockchain technology and product management.
Conclusion
The currency that has always been controlled and monitored by a centralized authority has found a new alternative. Fiat currency will have to fight a tough battle for survival with the cryptocurrency. In a short span of time, cryptocurrency has managed to attract the attention of a large number of investors and companies.
They are ready to implement the idea of cryptocurrency in their business. Many businesses have adopted the bitcoin payment system. Transactions will be much faster and secure with the implementation of the blockchain presented by the team. What do you think about the services offered by the platform? Are we ready to adopt the blockchain solution?
Website:https://www.quarkchain.io/
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Published By:Kishan748
Btalk Profile:https://bitcointalk.org/index.php?action=profile;u=1027561