We can agree that blockchain is closer then ever to become widely accepted and its use cases are bigger then ever. The system was good as it was for years, the eco-system of users was small, transaction speed was good and transaction cost was cheap to say the least. However, we saw that with the increase in popularity and usage of the blockchain as a whole, the real issues showed up. Scalability issues, security flaws, outrages amounts of electricity used (PoW) , transaction cost and speed. The Blockchain that will solve those or some of those, might be as well the next “big thing” we might say. Will QuarkChain be the one?
QuarkChain and the future of blockchain
What is QuarkChain and why it could bring the blockchain into the next generation?
A innovative permissionless blockchain that shall increase the TPS number (Transaction per second), while keeping the network free of congestion, affordable, decentralized and secure. With those benefits it aims to support gaming, financial payments, Internet of Things (IoT), social media and more in the future.
QuarkChain focus is scalability as you might have guessed, while not hurting decentralization and even improving security. The way they want to accomplish that is by developing a two layered blockchain which will separate the two main functions of ledger and confirmation.
Increasing scalability, security and keeping it decentralized
Yes, you read it right.
From what we saw so far, we know, that increasing any of the BIG three (Scalability, Decentralization, Security) at least one of the other one would get hurt. Not so, if you would use a two layered blockchain, QuarkChain will do so as there will be a root layer and the sharding layer. The sharding layer is the one that would increase scalability, as all minor blockchains or shards process a subset of transactions. As the number of shards increase so does the capacity for transactions. On the security side we have the root layer. The root layer confirms the blocks from the shard layer but does not process transaction by itself. Basically, the two main functions would be divided into two layers and thereby improve the above-mentioned points.
My list of positive points
My points for believing in QuarkChain success:
Testnet tx/s is 2279 tx/s as of writting this article.
Their testnet is a head of schedule and looks very promising.
Mainnet launch is Q4 2018 and by the work put into the project, they have a good chance of succeeding.
Hype around the project is enormous, they grew they telegram group from 20.000 to 76.000 in few days.
Very well put together White Paper, which you should definitely check out on their web page!
Strong team with experience, knowledge and dedication to actually pull it off!
Fair mining solution to benefit all miners even the small players.
I am simply amazed by the sharding idea and the two layered approach.
Please do check their web site and steemit for more information and do not solely rely on my or any other review of the project.
In conclusion…
I find it a great project with lots of potential that can make a difference and for myself that is worth a shot. However, I urge you to do your own due diligence and research and definitely read the white paper as it is one of the most interesting ones I have read in a while.
For more info check:
Github
Website
Steemit
Twitter![DcrlLhRU0AUDdjY.jpg]