ICO Review QUARKCHAIN

Version of the YouTube:

💰 Token metrics:
Ticker: QKC
Token type: ERC20
ICO Token Price: 1 QKC = 0.0221 USD (0.00003 ETH)
Fundraising Goal: 20 000 000 USD
Total Tokens: 10 000 000 000
Available for Token Sale: 20%
Whitelist: YES
Know Your Customer (KYC): YES
Сan’t participate: CANADA, CHINA, CONGO, CUBA, ETHIOPIA, IRAN, IRAQ, LIBYA, NEW ZEALAND, NORTH KOREA, SOMALIA, SOUTH SUDAN, SUDAN, SRI LANKA, SYRIA, TUNISIA, USA, YEMEN
Token Issue: PUBLIC SALE ALL TOKENS THAT ARE SOLD WILL BE UNLOCKED

🌏What is the project, what problems does it solve?
QuarkChain is a blocker that uses fragmentation to provide a high-throughput P2P transaction system. The system consists of two main levels — 1 level of fragmentation, which allows the system to achieve high throughput through efficient data distribution and 2 level root, serves to confirm the first blocks.

Using this development, QuarkChain aims to create a link between the three levels of blockbuster: decentralization, security and scalability.

Decentralization, security and scalability.

On the QuarkChain platform, nodes and clusters for mining will be used. Clusters are nodes that form a new cluster that acts as a supercomplete node. Thus, supernodes can be formed, without the need for them to be launched using supercomputers. This will give a competitive advantage to small miners.

📙Whitepaper
Quarkchain is an innovative block-building architecture aimed at maintaining world-class commercial standards. It provides a secure, decentralized and scalable cluster with an expected 1 000 000 TPS.

If the developers implement this, it will be a revolution in the technology world.
The main features of QuarkChain:

Split two-level block. The first level is the elastic layer of shards, the second is the root block, which confirms the blocks from the first layer.
Maintain security through joint mining (see below).
Anti-centralization. It is achieved through horizontal scaling. It is allowed to form clusters from small nodes to form a super node.
Easy account management. You only need one account to manage all accounts in different shards, all crypto-currencies are stored in one purse.
QuarkChain is based on the following principles:

Increasing scalability, while ensuring decentralization and security.
The ability to conduct cross-shard transactions without losing the proper level in the visual perception of the user. In other words, you will not notice anything, whether you have an intraday transaction or a cross-shard.
Easy account management.
An open standard for supporting decentralized applications.
An ecosystem driven by initiatives.

Illustration of a two-layer blockade of QuarkChain. Each main shard produces a subset of transactions, while the root chain confirms blocks of all shards, including the block headers in the main blocher.

In modern blockhouses each block has two basic functions — a register, which includes checking the status of the block, carrying out transactions and recording the results. The second function is the confirmation of transactions, it is achieved through mining. The main purpose of mining is to prevent hackers from attacking the network, making it economically unsuitable for them to try to force a new block.

QuarkChain decided to go the other way and divided these functions into two layers, while enhancing both scalability and security.

The system has one layer of a separable block, containing a list of all the main blockades (shards). Each shard, independently of others, processes a subset of transactions. Consequently, with an increase in the number of shards, the capacity of the entire system also increases.

QuarkChain has a root block, which only confirms blocks of shards of another layer, does not conduct any transactions. However, in order to prevent hackers from attacking the root chain, 50% of the total processing power of the system is allocated for its mining.

💲Why do we need tokens and how can we estimate the value of the token?
Coins QKC are used as deductions for transactions that are made on QuarkChain. They will also be used as a reward for the miners. The cost of QKC tokens will depend on the use of QuarkChain. The more active the network and the more transactions are made on it, the more expensive QKC tokens become.

Initially, the token will be released in ERC-20, as well as a placeholder for the cost of actual coins, which will be released along with the mainnet, which is scheduled for release on 4Q2018. During the release, the token of the swap will also be released.

⛏ Combined Mining
The hash of power is distributed evenly between shards. Rootblock has a share of 50% of all network capacities. Thus, in order to carry out a double waste, the miner needs to have at least 25% of all system capacities. In addition, the system is capable of reconfiguring the hash distribution of power, and can transfer up to 100% power to any of the circuits. It follows that the distribution model can be improved at any time.

Each block Quark has different complexity of mining, respectively, and different awards for the work. Miners can choose any block from the set, this possibility creates an open economic model in which the miner is a buyer with its own set of hash capacities, and the blocker is the seller of awards for mining.

🌴Centralization?
To build a peer-to-peer network that prevents malicious attacks, traditional blocking technologies require each node to validate all blocks and cancel invalid blocks. In the QuarkChain, the node for validation and root block and all shards is called a super-full node.

The developers of the quark have foreseen a potential scenario for the development of events, in which large players will take possession of a large number of network capacities, and eventually will be able to centralize it. Therefore, it was decided to make it possible to create clusters of individual small nodes.

Each node in the cluster verifies a subset of the chains. Once all these checks are covered by all the blockrooms, the validation process is completed. If one part of the cluster fails, its remaining constituent elements are in force to complete the validation process without a lost node.

📈 Competitors?
The project uses the Elastic Sharding Blockchains (Shard) technology, as well as the Zilliqa block project. Accordingly, it is a direct competitor.

https://coinmarketcap.com/currencies/zilliqa/
When asked what the advantages of QuarkChain over the Zilliqa project were: “1, zilliqa does not support turing-complete smart contract, while we support turing-complete such as evm. 2, zilliqa only supports network sharding, while we have support network and state sharding 3, we have scalable cross shard tx, while zilliqa’s cross shard tx is pretty limited »

🚚 What will be the type of transactions?
In the Quark network, there are both intraband and cross-shard transactions. Transactions inside the shard are fairly simple, since the shard already has all the necessary information from the register. In traditional blockbodies to implement cross-shard is quite problematic due to the complexity of synchronization of the two shards, in Quark this option is realized through the function of the first class.
Accordingly, each user can initiate a cross-shard operation at any time, the transaction will be confirmed in a few minutes, and the network capacity will scale along with the growth of shards.

💻 Account Administration and Smart Wallet
With the increase in the number of blockers, we need to store private keys of each of them. Quark simplified the account management in its network, leaving only two accounts — primary and secondary. The primary is used in the main circuit, while the secondary is used for all remaining addresses of the secondary chains. For added convenience, the developers have made Smart Wallet, which is able to collect funds from all addresses and send tokens to the main wallet.

Thus, if you decide to create a smart contract in a different shard than your purse, the smart wallet will take the money from your account and transfer it to the newly created account inside the shard where you decide to execute the smart contract. And if you transfer the amount more than you need to fulfill a smart contract, Smart Wallet will automatically return the difference to your primary account.

💸Business development
The quark has a strong infrastructure for developing Dapps, the developers themselves call them Dapps2go, because they are designed with a focus on mobile applications.

On the assurances of the team, creating applications based on the Quark platform will be a complete pleasure. To encourage developers of decentralized applications will be allocated a certain amount of QKC, how many, is still unknown.

🔍MVP
MVP: Test-no 1.0 is launched, which, according to the developers, produces 2279.37 tx / s.

GitHub (https://github.com/QuarkChain):

Over 50 developers are working on the project in closed repositories. In addition, it can be traced that the first record appeared on January 19, 2018. Since then, there has been an active addition of new records.

⌚Roadmap

Second quarter of 2018:
Release testnet 1.0, which will support many functions of the system itself, including smart contracts, etc.
Fourth quarter of 2018:
The release of QuarkChain Core 1.0, Mainnet 1.0 and SmarWallet (this time aimed at approximately 100,000 TPS).
Second quarter of 2019:
The release of QuarkChain Core 2.0 release, Smart Wallet 2.0 (this time targeting approximately 1,000,000 TPS with a cluster)
🏋️‍Team
Qi Zhou, founder. 406 linkindin.

Qi Zhou
Education: Bachelor in Mathematics, Beijing Institute of Telecommunications, Master of Computer Science, Shanghai University, from 2007 to 2013. First he defended his master’s degree, and afterwards and a Ph.D. in the Georgia Institute of Technology.

Experience in Google, Facebook, Dell. He held the posts of a programmer, on average he did not stay at one place longer than 1 year.

Zhaoguang Wang, Chief Engineer. 344 linkindin.

Zhaoguang Wang
Education: Bachelor of Computer Science, University of Shanghai, Master of Computer Science and Engineering, University of Michigan.

Experience in Facebook, Instagram, Google, intern began at AT & T. Pure allstar developer.

Anthurine Xiang, marketer. 500 + linkindin.

Anthurine Xiang
Education: Bachelor of Environmental Engineering, Master of System Analysis and Economic Management at Johns Hopkins University.
Experience:
2012–2013 financial consultant Argus, a large consulting company, traded on S & P and NASDAQ.

Next 1 year in Linkedin marketer and analyst.
20142015 head of product analysis Chartboost, the company is developing a SDK for advertisers of the theme of gaming.

2015–2016 business development and marketing Beepi, an online trading platform for buying, selling and renting used cars. Beepi after an unsuccessful attempt to raise additional funds closed and sold out in parts.

2015–2016 business development and marketing Beepi, an online trading platform for buying, selling and renting used cars. Beepi after an unsuccessful attempt to raise additional funds closed and sold out in parts..

Anthurine’s experience adds confidence in the successful marketing of QuarkChain, although she has not yet indicated that she is working with the new startup team.

Xiaoli Ma — scientist researcher. 301 linkindin.

Xiaoli Ma
Education: received a bachelor’s degree of automation at the University of Tshingua; Master of Science in Electronic Engineering at the University of Virginia; Doctor of Electrical Science, University of Minnesota.

Experience:

From 2010 to 2014 She held the post of associate professor at the Institute of Georgia for 4 years.

After she became a co-founder of the company Ratrix Technologies, and worked there as a technical director for 6 years. Ratrix develops various wireless and wi-fi solutions. The company was born under the leadership of Georgia VentureLab, a fund helping university students start their startup.

Since July 2014 he teaches at the IEEE (Institute of Electrical and Electronics Engineers). This organization is the top in its field in the international arena.

Yaodong Yang, scientist researcher. 336 linkindin.

Was educated in:
University of Bengal, Bachelor’s degree in engineering.

University of Dayton, Master’s degree in engineering.

Polytechnic University of Virginia, Ph.D. in engineering.

The work experience is mostly related to research and teaching. The only exception is the position of the co-founder of Demo ++, a technological incubator.

Wencen Wu, scientist researcher. 454 linkindin.

Wencen Wu
Education: like the founder of Quark and the main developer received a master’s degree in electrical engineering from the transport university of Shanghai.

From 2010 to 2013 she was defended first by a master’s degree, and then by a doctorate in technology at the University of Georgia.

Before QuarkChain worked only in one place — an assistant professor at the Polytechnic Institute of Rensselaer.

Ting Du, product manager,
Ting Du
Founder of Demo++

Patrick Mei и Julianne Zhu
Occupy the posts of community manager and SMM manager respectively.
👨‍💼Advisors
Arun G. Phadke

Honored Professor of Electrical Engineering, University of Virginia, Member of the National Academy of Engineering, author of several books, winner of the Benjamin Franklin Prize in Electrical Engineering, and also has a number of other awards, the most significant of which was the IEEE Energy Medal 2016).

Bill Moore, linkedin.

Education:
Technological University of Michigan, Bachelor of Electrical Engineering.
Michigan State University, Master of Computer Science.
Graduate studies at Stanford University, the program lasted less than a year, it seems more to the refresher courses.

Behind Bill’s long way in the IT environment since 1988 !!! Main places of work:
1996–1999 engineer developer in Sun microsystems

1999–2002 developer of 3PAR, a large company engaged in flexible data storage solutions, a member of Hewlett Packard corporation, a visit per month to 13 million users.

2003–2009 co-chaired the team ZFS and worked as a chief storage engineer in Sun Microsystems.

2010–2014 president of DSSD.
2014–2016 President of EMC, daughter of Dell Technologies.

Currently, he is a member of several projects at once: CNEX Labs Council Chairman, SambaNova Systems Technical Advisor and KATERRA, Managing Director of Walden International. The last company is a venture fund investing into technological start-ups.)

Mike Miller

Education:
Bachelor of Physics in Michigan State University
Doctor of Science in Experimental Nuclear Physics, Yale University.

Experience:
3 years passed postgraduate practice in MIT
2007–2008 is responsible for the integration, commissioning and operation of the main computing systems for CMS (one of the two large detectors at the Large Hadron Collider).
2008–2012 a researcher at the University of Washington, studied dark matter.

2008–2014 founder and chief scientist Cloudant (YCS08), which was subsequently acquired by IBM.
2015 — currently the main partner of Liquid 2 Ventures, the venture specializes in start-up investments in sid rounds. Portfolio is long, but especially unknown.

Portfolio Liquid 2 Ventures
From January 2012 to present he teaches at the University of Washington.

Kevin Hsu

Master of Computational Statistics and Machine Learning at UCL. He was an expert on ETF in Credit Suisse, was a senior engineer in machine training at Wecash and a partner in Dragonmind Capital. He has extensive experience in investments and has invested in more than 60 blockbusinesses around the world through his BlockVC Fund. Take a look to portfolio!

Leo Wang
As described on the QuarkChain page, Leo’s fund has over 50 projects, including Ontology, ArcBlock, SmartMesh, Elastos, Penta, MedicalChain, AppCoin, BitGuild, Zeepin, Gifto, Iotex.
It was not particularly successful to find the confirmation of the fund’s participation in these projects. On the website of the Pre angel Fund. Portfolio.

Zhiyun Qian, link 378.
Education:
Bachelor of Programming Shanghai Transport University
2007–2012 in turn defended the master’s degree, and afterwards the doctor of science in computer science at the University of Michigan.
Work began intern in Microsoft and Cisco. From 2012 to 2014 member of the research stanza NEC Laboratories. From 2014 to present, assistant professor at the University of California. Work in the quark is not displayed.

The site says that he is a specialist in cyber security, and found serious security holes in Linux, Android, the TCP / IP protocol.

💵 Investors:
There is no information about investors on the website and in the EP. However, in advisers there are:

CEO and founder of PreAngel Fund (Leo Wang), a large investment company that invested in projects such as QLink, Ontology, ArcBlock, Elastos, MedicalChain and others;
CEO and founder of BlockVC Fund (Kevin Hsu), an investment company that has invested in the following projects: NKN, IoTeX, Zipper, MedicalChain, Ocean Protocol, Republic Protocol, VeChain, Gifto and others;
CEO and founder of BlockVC Fund (Kevin Hsu), an investment company that has invested in the following projects: NKN, IoTeX, Zipper, MedicalChain, Ocean Protocol, Republic Protocol, VeChain, Gifto and others;
General Partner Liquid2 Ventures (Mike Miller), an investment company that enters projects at the seed investment round in various start-ups, including crypto projects
🤝 Cooperation
PMDaniu (pmdaniu.com) is a Chinese cloud collaboration platform for product managers and designers, supporting prototyping, documentation, project management. In addition, the company is engaged in investment activities. PMDaniu cooperates with such companies as Alibaba, Tencent, damai.cn, Rongcloud, HSTYLE, JDcom
PRIMAS (https://primas.io/) is a blockbuster platform for publishing content on the Internet. Carried out ICO last year. Now it is traded on the exchanges OKex, LBank, Gate.io
CHIHUO (http://www.thechihuo.com) is an online media communication portal for restaurants that want to reach the Chinese people. It has more than 500,000 subscribers in the BEAT and 400,000 followers on Facebook and Weibo. The company strives to provide everyone who wants to know what is happening with local (Chinese) cuisine and restaurants, as well as the most useful and reliable information about food products. In Link there are 44 registered employees, 181 are tracking. Year of foundation: 2013. Headquarters: California. When asked what the cooperation with this company is, the following incomprehensible answer was received: “Chihuo is one of our applications when we just started. We currently have much more paternships. Will update these later. “ Accordingly, CHIHUO will be the first Dapp to use the QuarkChain platform using its own token.
SegmentFault (https://segmentfault.com/) is a Q & A website that allows programmers to solve IT problems. Since its launch, SegmentFault has collected more than 500,000 active developers. SegmentFault is based on a self-developing open source infrastructure called Typecho Framework, which is a simple, lightweight and extensible PHP infrastructure. The project cooperates with GitHub, BaseCamp and Gmail. Foundation date: 2012 year. Headquarters: Hangzhou. There are 17 registered employees and 259 trackers in the link. SegmentFault is the leading technical community in China. In addition, the company is actively engaged in the organization and co-organization of hackathons in China. SegmentFault account has more than 50 transactions.
QuarkChain cooperates with three more organizations, but, unfortunately, they can not be identified.
In addition, Twitter has an announcement of joint events with Morpheus Labs.

💼 Conclusions
In general, at this stage the project looks quite sure: the test-no 1.0 is started (you can register for the test), active work is carried out in GitHaba, high-level consultants, a fairly good VP and a low-speed road map. In addition, the developers promised, before the main stage of the sail will launch a public test, no. TO THE MOON!

Website: https://www.quarkchain.io/
Whitepaper:https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Github: https://github.com/QuarkChain
Telegram: https://t.me/quarkchainio
Twitter: https://twitter.com/quark_chain