QuarkChain Analysis

High-capacity peer-to-peer transactional system
[Short general description]: QuarkChain is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. It provides a secure, decentralized, and scalable blockchain solution.

[Main contribution proposal]: Tries to introduce a groundbreaking innovative permissionless blockchain architecture, that aims to meet the global-wise commercial standard. The main idea of Quark was inspired by extensive development experience in developing large-scale distributed systems in centralised world that handles billions of TPS. With the help of blockchain technologies QuarkChain manages to apply on unique solutions and thus solve the scalability problem. These solutions aim to largely expand the boundaries of blockchain usability without damaging safety and decentralization features. Another proposal is helping to move the blockchain into the next generation by increasing the number of TPS, thousands to million folds higher, while maintaining security or descentralization. A free of congestion network and thus affordable for everyone with different purposes. Ultimately, Quark aims to build a seamless platform to support distributed social media, high frequency trading, IoT, gaming and financial problems.

[Main problems tackled]:

1. Reshardable two-layered blockchain - two layers on which elastic sharding is applied on the first layer, and a root blockchain as the second layer that confirms the blocks from the first layer. The second layer is flexible to be resharded as needed without changing the root layer.

2. Guaranteed security by market-driven collaborative mining: to ensure security of all transactions, a game-theoretic framework is designed for incentives, where at least 50% of overall hash powers are allocated to the root chain to prevent double spending attack on any transactions.

3. Anti-centralized horizontal scalability expansion - QuarkChain allows multiple honest nodes in a cluster to run a super-full node. Each node in the cluster only validates a sub-set of chains.

4. Efficient and secure cross-shard transactions - through in-shard and cross-shard transactions.

5. Simple account management - QuarkChain system greatly simplifies account management.

6. Cross-chain transactions - One root chain, the transactions from other blockchains can be implemented by converting the tokens by an adapter, then performing the transaction like a cross-shard transaction from QuarkChain side.

[Innovation]:

1. On-chain and off-chain transactions - the QuarkChain two-layer sharding structure makes the on-chain and off-chain handling very flexible.

2. Design principle - enhancing the scalability while guaranteeing security and decentralisation

3. Collaborative mining - has as a goal, to designing incentives mechanism and difficulty algorithms so that: has power are incentivised to distribute evenly among shards. The root chain has a significant large positions (over 50%) of hash power over the whole has power of the network.

4. Smart Contract - QuarkChain will support contracts via EVM (most of the existing dAppscan be directly deployed on QuarkChain platform.

5. Account management - Since a user can manage all addresses as the number of shards via private key, a user will essentially have the same number of addresses as the number of shards. To simplify management, most transactions of a user will be initiated from the primary, temporarily move to an address in secondary account if the transaction requires, and if there is remaining balance in secondary account after the transaction, the balance will be moved back to the primary account.

6. Smart wallet - this feature will simplify account management when using transactions that a user does not need to be aware of the underlying detailed in-shard/cross-shard operations.

Social:
Site: https://quarkchain.io/
Medium: https://medium.com/@quark_30920
Telegram: https://t.me/quarkchain
Facebook: https://www.facebook.com/quarkchain.quark.5
Twitter: https://twitter.com/Quark_Chain
Weibo: http://weibo.com/QuarkChain
Github: https://github.com/QuarkChain