QuarkChain is the new blockchain tech based on shradding that plans to create a highly scalable and secure decentralized blockchain that can handle up to one million transactions per second using a two-layered blockchain system as given below.
They are seeking to bring crypto to wider mainstream audience and will support smart contracts with Ethereum Virtual Machine (EVM). This means developers will be able to easily port and deploy dApps built on Ethereum onto QuarkChain once their mainnet is live which could make QuarkChain a serious contender right out the gate.
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.
Q2 2018 - TestNet 0.2 release which will support most of QuarkChain’s features such as smart contract, reshard, and so on.
Q4 2018 - QuarkChain Core 1.0 release, Mainnet 1.0, and Smart Wallet (aiming for ~100,000 TPS at this time).
Q2 2019 - QuarkChain Core 2.0 release, Smart Wallet 2.0, (aiming for ~1 million TPS with clustering at this time).
To simplify management of funds, any transaction executed in a secondary account will revert the remaining balance back into the primary account. The user balance will then remain in the primary account, eliminating the confusion caused by multiple balances across multiple shards.
QuarkChain ICO tokens (QKC) are ERC-20 compatible and distributed on the Ethereum blockchain. After the mainnet is launched in Q4 2018, the ERC-20 tokens will be converted to the mainnet token by pre-mining. Future QKC will be produced by miners.
QKC are the sole means of transacting value in the system and supply a reward for miners. QuarkChain will support smart contracts on the Ethereum Virtual Machine (EVM) to enable future compatibility with existing dApps, which will benefit from increased scalability.
Token details:
Quarkcoin looks very attractive since they raise around 30M$ which is pretty less for the problem they want to solve. Zilliqa , another competitor for Quarkcoin has more than 1B$ market cap.
White Paper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Crowdsale Hard Cap: $20 million
Initial Supply: 2.2 billion
Total Supply: 10 billion
Token Distribution: TBA
Price per Token: TBA
Initial Market Cap (at crowdsale price): $33 million
Accepted Payments: ETH
Countries Excluded: China, US
Team behind Quarkchain coin:
Team seems to be well experienced in blockchain technology.
QuarkChain ICO Team
Qi Zhou is Founder and CEO of QuarkChain. He has software engineering experience with the likes of Google, Facebook, and EMC, where he developed sharding and clustering solutions. Qi holds a PhD from Georgia Tech in Electrical and Computer Engineering.
Yaodong Yang is a Research Scientist with the QuarkChain ICO. He is the Cofounder of Demo++, a startup incubator. He is also a Prof. at Xi’an Jiaotong University and holds a PhD in Engineering from Virginia Tech.
Xiaoli Ma is also a Research Scientist with QuarkChain. She currently serves as a professor at Georgia Tech and is an Institute of Electrical and Electronics Engineers Fellow.
Anthurine Xiang serves as CMO. For the last 4 years Anthurine has worked in Silicon Valley, with companies such as LinkedIn, Chartboost, Beepi and Wish. She holds an MSE in System Analysis and Economic Management from Johns Hopkins University.
Below is a list of the advisors working with QuarkChain:
Leo Wang – Head of PreAngel VC and prolific crypto investor
Mike Miller – Liquid2 Ventures, Founder and Chief Scientist at IBM Cloudant
Bill More– Founder/CEO of DSSD, later acquired by EMC
Arun Phadke– Professor Emeritus of Electrical Engineering at Virginia Tech
Conclusion :
2018 is a great year for Crypto scaling solutions - Quarkchain will compete with few other players like Zilliqa
With low cap of 30M$ at ICO price, Quarkchain may give 20X return in an year when they release mainnet. Currently they are in testnet.