QUARKCHAIN - THE FASTEST TRADING SYSTEM IN THE WORLD

kldhp (25)in #quarkchain • 6 years ago

Ethereum may soon see its transaction processing capacity grow significantly thanks to a new scalable solution called "sharding," which Vitalik Buterin personally posted on his Twitter on 01/05. The co-founder of the world's second-largest electronic currency just leave a short note and attach a picture of "proof-of-work":

In a post Reddit and then a series of tweets on his personal page, Buterin unveiled his "proof-of-concept" technology and stated that he had ideas for integrating it into Ethereum.

WHAT IS SHARDING?

In essence, Sharding is a solution that optimizes transactional and smart contract verification by separating the blockchain network into partitions called shards. Instead of every node going through the entire transaction history of the Ethereum blockchain network, Sharding allows certain nodes to be assigned to certain segments, optimizing the node transactional verification process. This helps to increase the number of transactions that can be processed at the same time.
The time it takes to "shard" a block, divided between groups of computers, will be around 10 seconds, Buterin estimates. In the tweet on May 1, the founder of Ethereum wrote:

Ethereum developers are working hard to find ways to improve scale on the chain, in order to increase their competitiveness with cash settlement processors such as VISA.

ABOUT QUARKCHAIN PROJECT

QuarkChain is a peer-to-peer and high-capacity trading system. It is equipped with sharding solution for its platform. The project is currently undergoing testing and is guaranteed to be above 2000 transactions per second.

QuarkChain has five technology highlights:

Two-layered blockchains:

The first layer uses elastic sharding, ie fragmentation, to facilitate quick and convenient transaction. The second class is intended to validate blocks from the segments of the first class. It will divide very specifically each task of each class.

Market driven collaborative:

The second characteristic is "driven," which is market oriented, ie, it will support the fact that those who dig a little, digging low power can also dig the coin through the GPU and have at least 50% of the total digging capacity allocated to the chain to prevent double spending attacks.

Horizontal scalability:

It can allow a huge increase in the number of transactions. No group, no individual, no organization is needed to create super-nodes, only nodes that connect together can still create super-nodes to serve the grid network. That it helps to disperse, decentralize the ownership of this node rather than merely centralize.

Cross-shard transaction:

Cross transactions across different branching segments to enable transactions to be performed at any time and validated in very short time intervals. The throughput of cross transactions will increase linearly with the number of branched segments.

Simple account management:

We only need one account so that we can manage different currencies on different branching segments.

ICO INFORMATION

QuarkChain's ICO has not yet publicly released all relevant information about the ICO, on the purchase of Token. On their twister there was also notice about the ICO time as well as the ICO plans.

QUARKCHAIN ICO TEAM

Behind the success of the project can not fail to mention the contributions of the development team and the advisory board. The following is the information of some key members. The rest of you can see more details at their official website:

Qi Zhou is Founder and CEO of QuarkChain. He has software engineering experience with the likes of Google, Facebook, and EMC, where he developed sharding and clustering solutions. Qi holds a PhD from Georgia Tech in Electrical and Computer Engineering.
Yaodong Yang is a Research Scientist with the QuarkChain ICO. He is the Cofounder of Demo++, a startup incubator. He is also a Prof. at Xi’an Jiaotong University and holds a PhD in Engineering from Virginia Tech.
Xiaoli Ma is also a Research Scientist with QuarkChain. She currently serves as a professor at Georgia Tech and is an Institute of Electrical and Electronics Engineers Fellow.
Anthurine Xiang serves as CMO. For the last 4 years Anthurine has worked in Silicon Valley, with companies such as LinkedIn, Chartboost, Beepi and Wish. She holds an MSE in System Analysis and Economic Management from Johns Hopkins University.

And some advisors

PROJECT EVALUATION

Advantages

The idea of the project is quite good. The project promises to be the fastest global trading platform
QuarkChain owns a team of experienced founders, developers and consultants in the field of big data and blockchain technology. This is one of the factors that determine the success of the project.
There is a proof of concept on Github. Evidence for sharding technology. You can look at the following link: https://github.com/ethereum/research/tree/master/sharding_fork_choice_poc

Disadvantages

Currently QuarkChain is still in beta, you can only join as a volunteer.
Competition for a high throughput solution is very fierce. The first name is Zilliqa. There are also Fusion, Ethereum and VISA.
At present, QuarkChain has not yet established formal partnership, although they have indicated clear directions.