QuarkChain The Next Generation of Blockchain- |Blockchain 3.0|

The blockchain technology has rapidly growing while taking a major part in our everyday lives. Every day more and more people are adopting cryptocurrency all over the world. However, the requirements for the security and speed of executed transactions are rapidly increasing. We believe that Quark Chain can give a greeter solution to this problems and possible to make important changes to blockchain ecosystem.

Quark Chain in simple terms a high-performance blockchain, whose goal is to achieve speeds of one million transactions per second (TPS). It focuses on the right balance between decentralization, security, and scalability while solving the main problem of all modern blockchain.The developers are planning to create a network that is free from overloads. The platform is multifunctional. 

How will Quarkchain solve these challenges?

Scalability solution

Security and scalability do not always go hand in hand, especially when it comes to blockchain technology so Quark Chain provide a solution that balances scalability and security by dividing the two main chain functions into separate layers. The first layer will contain all the shards or small block chains that process a huge number of transactions independently of each other. As the number of shards increases so does the number of transactions simultaneously. Approximately 10 seconds is the average time the block was created. 

In simple terms, QuarkChain can use two types of transactions, in shards or cross-shards. Also, another unique feature of the network is the ability to conduct transactions in cross shards. Depending on the number of shards, the throughput increases linearly. In order to work it was easier with a cross-shard system, the developers made a special smart wallet. Through one private key, the user can access all addresses in any of the shards. Suppose that the user has many different addresses associated with disparate shards. In order to avoid this problem, the developers use two accounts in the wallet, the primary and secondary. The first contains the address of the user, and the second performs another function, controls the remaining addresses in the other shards. 

Security  solution (Market driven collaborative mining) 

The collaborative mining at QuarkChain is defined through an incentive mechanism and difficulty algorithms. A game-theoretic framework for incentives is designed to incentivize hash power to distribute evenly among shards and to prevent double spending attack, at least 50% of overall hash power is allocated to the root chain. 

Decentralization solution (Horizontal scalability )

A super-full node can be extremely expensive when TPS goes high and tend to centralize the system. To ensure decentralization, QuarkChain allows multiple honest nodes to form a cluster in order to run as a super-full node.

Tokens

Tokens Quark Chain (QKC) will first be released in the ERC-20 format on the Ethereum block, and after launching main net in Q4 2018, the ERC-20 tokens will be converted to their own QKC token and will be used as a measure of value, currency for transactions and as a reward for the contribution to the project.  

Already there is an alpha version of the product, but at the moment only as an internal testete, which, when tested, showed a result of over 2000 transactions per second, which is 500 times faster than bitcoin! A smart result on the initial development path, and further stability will only increase!

Quark Chain team:

- Qi Zhou - the founder and CEO. With excellent experience in software development in Google, Facebook, as well as in Dell. At the moment he is an acting doctor of technical sciences in the field of electrical engineering and computer engineering at the University of Georgia. 

- Zhaoguang Wang - Software Engineer. He has extensive experience in similar positions in such giants as Google, Facebook and Instagram. 

- Yaodong Yang - is a research fellow, a professor at the Chinese University of Xian Jiaotong, with a doctorate in engineering. The second researcher is Xiaoli Ma, who is a professor at the Georgia Institute of Technology. 

- Anthurine Xiang - is responsible for marketing and community. The last four years she worked in Silicon Valley with such well-known companies as Chartboost, LinkedIn, Beepi and Wish. He is a Master in System Analysis and Economic Management at Johns Hopkins University.

 Quark Chain Advisers 

- Bill Moore - was president of DELL EMC (2014-2016), an engineer at Sun Microsystems from 2003 to 2010. He is currently Managing Director of Walden International, a very large VC. 

- Mike Miller - is the founder of Cloudant, later acquired by IBM. 

- Arun G. Phadke - is a distinguished professor at the University of Virginia, and a member of the National Academy of Engineering. 

- Leo Wang - is the founder and CEO of Pre Angel, the Beijing Investment Fund, which specializes in investing in the Internet and blocking projects in the early stages.

Roadmap.

Test net zero point one was released in March with round 2,200 transactions per second, in second quarter we can expect smart contracts on testnet, in q3 Mainnet will be launched with a smart wallet, and in q4 work on mainnet, smart wallet, and quark Ching core will continue. Lastly in q2 2019 QuarkChain 2.0 and smart wallet 2.0 will be released.

• Official Website -   https://www.quarkchain.io

• Blog - https://steemit.com/@quarkchain 

• Twitter - https://twitter.com/Quark_Chain

• Telegram (EN) - https://t.me/quarkchain 

• Telegram (CN) -   https://t.me/QuarkChain_ZH

• Announcement Chanel -   https://t.me/QuarkChain_News

• Whitepaper - https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf

 

 Prepared by:

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