ICO QuarkChain

Website: https://www.quarkchain.io
Token type: ERC-20 (to be converted later)
Ticker: QKC
Token Supply: 10,000,000,000 QKC
Hard Cap 20,000,000 USD
Whitepaper: 33 pages

Distribution of Funds:

Project Summary:

• High tps blockchain (1,000,000++ tps touted)

• 2 chain structure

  • 1st chain is the root chain whose sole purpose is to confirm
    all transactions from the shards

  • 2nd chain is elastic sharding capable

    • Infinite number of shards can run concurrently and report
      their transactions to the root chain

    • This chain also acts as a ledger as it is inefficient to
      derive the transactions from the root chain

  • Transactions between shards are possible

  • Possibility of cross chain transactions with other blockchains

• Mining

  • Hash power distribute evenly amongst shards so all shards will
    run at the same speed (ideally)

  • Majority (>50%) of hash power will be allocated to root chain
    to prevent double spending attacks

• Smart contracts will utilize EVM

Pros/Cons:

• Pros:

  • Runs own chain

  • Utilizes sharding

  • Cross chain compatible (possibly in the future)

• Cons:

  • Not implemented before

  • Not the newest idea as there already exists projects who
    implement sharding

General Thoughts:

The project Zilliqa comes to mind one high tps blockchains are
mentioned. According to my understanding, this project differs from
Zilliqa in the way the shards work. Zilliqa's shards report to one
another and a leader is elected to drive the consensus protocol. Quark
has a hard coded 'leader' (root chain) where all the shards report to
which seems to be more of a side chain model than a sharding model.
However, Quark also allows transactions across the 'shards' which would
not be possible in a side chain model, hence Quark can be considered as
a hybrid of side chain and sharding.

A big difference I see between QuarkChain and Zilliqa is the smart
contract implementation on their chain. Zilliqa uses a language specific
to their chain which they claim to be able to leverage their network
whereas QuarkChain utilizes EVM to run their smart contract which
sacrifices efficiency for compatibility.

However, as of the point of this writing, the direction for Ethereum is
to move towards sidechains and sharding which might render this project
irrelevant should Ethereum is able to achieve the same TPS after Casper.

Rating: 7.3/10

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