QuarkChain is a blockchain that utilizes sharding to provide a high-capacity peer-to-peer transactional system.
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Project website: https://quarkchain.io/ White paper: https://quarkchain.io/quark.pdf
What does the company/project do?
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.
Using this design, QuarkChain aims to satisfy the tradeoff between the three pillars of a blockchain – decentralization, security, and scalability.
There will be Nodes and Clusters for mining on the QuarkChain platform. Clusters are multiple nodes forming a cluster running as a super-full node. This way, supernodes can be formed without them being run by supercomputers. This will provide smaller players a competitive edge in mining.
What are the tokens used for and how can token holders make money?
QKC coins are used as transaction fees for transactions performed on QuarkChain. It will also be used as reward for miners. These value of QKC coins should depend on the usage of QuarkChain. The more activities and transactions being made on QuarkChain, the more valuable QKC coins should be.
The initial tokens released will be ERC-20, and a placeholder for the value of the actual coins which will be released with the mainnet that is scheduled in Q4 2018. At time of mainnet release, there will be a token swap.
Opportunities
- The closed testnet is already demonstrating a TPS of 2,000 using just a few AWS nodes, which puts it ahead of most other blockchain 3.0 projects with much higher valuation. As more nodes are being used in the testnet, higher scalability should be achieved.
- We mentioned a few months ago that scalability will be one of the central subjects in 2018. Those projects that can successfully tackle this problem would be hugely rewarded.
- 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.
- The team consists of a mix of academicians and engineers at reputable tech companies/universities. Their credentials provides comfort as to the execution ability of the team.
Concerns
- The team wants to wait until the blockchain demonstrates higher throughput before actively seeking projects to be built on the QuarkChain platform. While it makes sense to prove what they claim first, we feel that they could be more aggressive in terms of generating traction on adoption of the blockchain.