It’s clear that every investor in the world, crypto-currency, genuinely dreams of finding an exceptionally revolutionary project capable of giving a fabulous number of X’s. Today, in the middle of 2018, it is almost unrealistic, and yet, on the expanses of the Web sometimes there are true pearls.About one of them we will talk today. It is the project QuarkChain.
In its work, QuarkChain uses fragmentation to provide a powerful peer-to-peer transaction system. The system contains two main layers – the fragmentation level, which gives the system the ability to obtain high throughputs due to efficient data distribution and also the root layer necessary to confirm the block of the first one.
The QuarkChain development team has set itself a very difficult task – to find a real compromise between the capabilities of the blockchain-decentralization, security and scalability. The solution will allow blockchain to grow up to the next level, and, at the same time, the whole world of digital currencies. QuarkChain plans to achieve the best transaction speed among similar systems.
It should be noted that security and scalability in many blockchain systems can not meet each other, especially when it comes to technology. In QuarkChain it was decided to balance the needs, which is possible only by dividing the basic functions of the blockchain into separate layers.
So, inside the first layer there will be block-chains or shards, which are necessary for processing a subset of transactions. This will happen independently of each other. The second layer will be the root chain. The functional of this chain is the confirmation of blocks from shards. However, at this stage the information will not be processed. 2 types of transactions are possible in the QuarkChain – inside the shards and between them. Internal operations occur inside one shard. Positioning QuarkChain separately from other solutions is the ability to conduct transactions between shards. The throughput of the transaction system between shards will increase linearly, this will happen as the number of shards increases. To simplify the operation of the cross-shard system, QuarkChain represents a smart wallet. All addresses that belong to any user in the shard are accessible to him using one private key.
Quarkchain is an innovative blockchain-building architecture aimed at maintaining world-class commercial standards. It provides a secure, decentralized and scalable cluster with an expected 1 000 000 TPS.
What are the principles of QuarkChain?
– Increase in scalability with a guarantee of decentralization and security.
– the ability to produce a cross-shard transaction with the preservation of a user-friendly level of visual perception.As a user, you do not even notice what kind of operation you have – intraday or cross-shard.
– convenient and effective account management.
– an open standard to support decentralized applications.
– an ecosystem driven by initiatives.
According to Mark Andreessen, a well-known investor in various modern technologies and one of the creators of browsers, blockchain technology has a similar impact on society today to the appearance and development of the Internet about 20 years ago.
The platform bitcoin can do 4 transactions per second, the etherium can do 10. The capabilities of QuarkChain are already enormous, but will become almost incomparable with competitors in the near future – speeds of 100 thousand transactions will be achieved in 1 second!
The short name of the coin is QKC, the system is based on the classic ERC20. During the sales period, the price is set – one coin of the system is equivalent to 0.0236 USD (or only 0.00003 ETH). Only 20% of the total number of tokens (10 billion QKC) will be offered for sale. Hard-cap of the project – 20 million dollars.
Pre-sale. Hard-cap of the private sales – 16 million dollars. For 1ETH, you can buy 39416 system tokens (QKC).
ICO. The price set in the period – for 1 ETH you can buy 31533 QKC. Hard-cap of the project – $ 4 million. Sales are held from 7 to 21 May.
How will the collected funds be distributed?
Unfortunately, in the official documentation on the site there is no exact distribution of the media.
How will all the tokens be distributed?
– 20% of coins will be sold during sales;
– 5% share of advisers;
– 15% share of the team;
– 15% of the pool of the founders of the project;
– 45% share of mining and marketing.
The project tries to show their individuality. So in partner programs – the team does not have a bounty program written in the bitcointalk profile, instead, there is a note on steemit. Anyone can participate in a campaign supporting the project, for this you need to participate in the test network of the project and perform several simple rules. The size of the pool allocated to the bounty is kept secret, it is known only that the program will last until May 15 and for participation it will be possible to earn up to 10 thousand system tokens (the equivalent of $ 236).
Whitepaper is available in two languages - English and Chinese. In English this document occupies 40 pages of tightly written text with a few but qualitatively elaborated charts and block diagrams. Almost entirely it is devoted to the product, and towards the end you can read about the members of the team and learn about the possible risks. Also on the site there is a 28-page document devoted solely to the peculiarities of the token.
This is a group of real professionals with a long experience in their fields of activity and enviable enthusiasm for the cause. The site lists 9 members of the team directly and 6 advisors. Some team members have links to LinkedIn.
Social networks & Site
As of May 8, the project had a fairly high degree of popularity on the vast expanses of the World Wide Web. On the channel in Telegram there are 78097 people, reddit – 2900, Twitter – 12700. There are profiles in the medium and Facebook. The project can be proud of its profile in github – there is very high activity here. Also the project supports activity in the Chinese weibo.
From the first screen we are greeted by a comfortable design with pleasant animations. All the buttons and links on the site are working. For connecting with the team there are links to profiles in social networks and email project at the bottom of the site. Above the roadmap there is a counter on which is shown what the maximum speed has been achieved by the team today. So far, the project’s Internet page is only available in English.
The map presented on the site is rather concise. Whitepaper started compiling in the fourth quarter of last year and was officially launched in February. In the same month the code 0.1 was verified. In March, the system was presented in a test mode, with smart contracts and a purse. By the end of the year, in the 4th quarter, all project systems will be presented in version 1.0, but in the 2nd quarter of 2019 the second official versions of the systems will be presented. During this period, the platform will qualitatively break out ahead of its main competitors.
Features of QuarkChain:
– 2-level shared blockchain system. In the first level, the elastic layers of shards are concentrated, and in the second layer, the root blockage necessary to confirm the blocks from the first layer is stored.
– Maintain security through joint mining.
– Anti-centralization. It is possible due to the horizontal scaling. Those. It is possible to create clusters of many small nodes that form super nodes.
– Convenient account management. To manage different shards, you will only need one account with one key. Crypto-currencies in the system are stored in one purse.
Time is money. Who understands this better than a businessman? The problem of transaction speed is one of the most important in the cryptoworld. Its solution is a real breakthrough and a step towards the rapid popularization of blockchain technology.
The QuarkChain project is a blockchain system that issues 2,000 transactions per second already during the testing phase! The platform is promising and deserves our attention. Evaluation at various popular expert sites is quite high. For example, on Foxico – 9 out of 10, and on the site it is on the 4th line in the top 20 ico and has the opinion of experts 90 percent probability of success. Most likely, investing in the project in the long term will be usefull. Our attitude to the project is extremely positive.