Hey everybody. I’d like to give you all a little heads up about an exciting new blockchain called QuarkChain.
In my opinion it is THE most exciting blockchain project of 2018. Its a very promising blockchain which utilizes sharding to provide a high-capacity peer-to-peer transactional system and has been recieving a lot of interest from websites such as Ico Drops as well as youtubers such as Ian Balina
Here are some of the amazing features of QuarkChain:
50% or more of the hashpower will be dedicated to the root layer to prevent any double spending attacks. No lower limit as to the number of nodes required for a shard. Supports GPU mining. Support cross shard transactions. The more nodes there are, the higher the scalability.
The architecture of the project incorporates all the innovations available in the market of decentralized solutions. The project also has a high level of security. QuarkChain architecture allows to easily scale the system to achieve throughput of 1,000 TPS.
QuarkChain Principles:
flexible scalability with decentralization and security guarantees the ability to conduct transactions across shards (cross-sharding) easy account management open standard and source code motivating ecosystem
To further increase adoption and ease of use, QuarkChain will provide support for and integrate the Ethereum Virtual Machine for smart contracts, as it is the most commonly use execution engine. This will allow dApps built on the EVM to have the ability to be deployed directly on the QuarkChain Platform.
Currently, all blockchains solve two main tasks. First, it is a ledger that checks the status of the blockchain, carries out transactions, and records the result. The second task is to confirm transactions, which is solved by mining. It is thanks to mining attack on the network is economically unprofitable. Quark chain went its own way and divided these functions into two layers, while increasing both scalability and security. The system has one layer of separating blockchain, which contains a list of all the main shards. Each shard handles transactions independently. Due to this, with the increase in the number of shards increases and the power of the entire system. There is also a root blockchain, which deals only with the fact that confirms the blocks of other shards, but does not perform any transactions. At the same time, to prevent hackers from attacking the root layer, 50% of the power of the entire system is allocated for its mining.
Hash power is distributed evenly between shards. Since the share of the root blockchain is 50% of the capacity, the miner needs to have at least 25% of the capacity to carry out a double spend. The system can also adjust the hash distribution of capacities and transfer up to 100% of capacity to any of the chains. Each Quark blockchain has different mining complexity and different rewards for work. This creates an open economic model, where miners can choose any of the available blockchains in the system.
In QuarkChain validation node and the root of the blockchain and all shards are called super-full Node. The developers have provided a case where large players can take control of a large number of network capacity. The possibility of creating clusters of separate small nodes was implemented. Each node in the cluster validates a specific subset of the networks. Once all these checks cover all blockchain, the validation process is complete. If one part of the cluster fails, its other constituent elements are in force to complete the validation process without a lost node.
Quark Network has as inside shards as cross shard transaction. Transactions inside shard are quite simple, as shard already has all the necessary information from the register. In the traditional blockchain to implement cross-shard is quite problematic due to the complexity of synchronization of two shards in Quark this option is implemented through the first class function. Accordingly, each user can initiate a cross-shard operation at any time, the transaction will be confirmed in a few minutes, and the network bandwidth is scaled along with the growth of shards.
The team already has a test version of mvp. At the moment, they are gaining 100 technically experienced testers alpha version. Soon it is planned to open Github.
The Quarkhain team has quite a few all-stars. Advisers very cool, excellent mix of businessmen and technicians. A big plus is the partnership with leading venture funds.
The token metric
Ticker QKC, ERC20.
Hard cap 20 000 000$
Total Tokens: 10 000 000 000
Private Sale Is done.
Crowdsale: late May or early June
I hope this is of some interest to everybody - I am really excited about this one