Quarkchain - A High-Capacity Peer-to-Peer Transactional System

trohss (25)in #quarkchain • 6 years ago (edited)

What is Blockchain ?

Blockchain is a technology that allows for secure database conversion on complex encryption systems, similar to a company's accounting books, where cash is closely monitored. In this case Blockchain is an accounting book operating in the digital domain.

Blockchain has a very special feature that is the transmission of data does not require an intermediary to confirm the information. The Blockchain system has many independent nodes that can authenticate information without requiring a "sign of trust". The information in Blockchain can not be changed and only be added with the consent of all nodes in the system. This is a high security system against the possibility of data theft. Even if one part of the Blockchain system collapses, the computers and other nodes will continue to protect the information and keep the network stable

About Quarkchain :

Scalability is one of the key issues that blockchain projects are looking for, the quarkchain project wants to build the third generation of blockchain with multiple layers of scalability through sharding. They are seeking to bring crypto to wider mainstream audience and will support smart contracts with Ethereum Virtual Machine (EVM). This means developers will be able to easily port and deploy dApps built on Ethereum onto QuarkChain once their mainnet is live which could make QuarkChain a serious contender right out the gate.

The Target of Quarkchain :
Often, scalability and security are often not intertwined in Blockchain technology. QuarkChain offers a solution that balances these needs by separating the two layers.

Quarkchain has 2 main layers :

The first layer contains all the sub-blocks, also known as the shards, which own independent transactions. As the number of shards increases, the number of transactions that can be accommodated on it is also increased.
The second layer of QuarkChain is the root chain. The rootchain's primary function is to validate all blocks from the sharded chains. The rootchain itself does not contain any transactions.

Quarkchain supports two types of transactions: Cross-shard and in-shard. The in-shard transaction is a transaction that has the same send and receive address in a split string, the cross-shard is a transaction where the sending and receiving addresses are located in two separate strings. To simplify the user experience in the cross-shard system, QuarkChain is developing a Smart Wallet. All addresses are owned by the user in each shard and are connected through individual private keys.

In theory, a user can have multiple addresses connected to different shards. To solve this problem, QuarkChain applies both accounts in the wallet as primary and secondary accounts. The primary account includes the user's fixed shard address while the secondary address manages the remaining address of the other shard.

The Potential of Quarkchain :

QuarkChain supports EVM smart contracts and this should not be understated. If QuarkChain can provide a secure scalable blockchain before Ethereum solves their scalability issues we may see dApps that require scalability to migrate to QuarkChain resulting in greater amounts of users and developers.
There are many competitors proposing a solution to blockchain scalability including the likes of Rchain, Zilliqa, Kadena, Thunder Token, Algorand, Ethereum, Bitcoin and more. It is unlikely one blockchain will rule them all, however it is also just as unlikely that all of these projects achieve widespread adoption.

The open transparency of transactions could stifle potential partnerships as commercial entities may not want transactions to be publicly available.
25% of total hashing power is required to launch an attack on QuarkChain’s network. This percentage is far less than other blockchains and is a serious cause for concern, as a successful attack would greatly corrode the value and confidence in the network.
To date no enterprise partnerships have been announced.

The challenges of quarkchain :

The battle of data transfer is very hard. The first name that we know of in the field of processing large amounts of data is certainly Zilliqa. Also, Fusion's testnet will go live soon - in beginning of Q2, and you can not forget Ethereum. As always, adopting a protocol is an important piece in this game when the chain will occupy the throne.

Currently, QuarkChain has not announced the partners but the team revealed that the team is really trying to deploy the work. In the whitepaper, QuarkChain points out that some industries may be benefiting from product development - one of which is the development of decentralized telephony applications. In an effort to reach the industry, QuarkChain is creating on-chain development tools for Android devices.

A portion of QuarkChain will also be preserved as a reward for developers who build decentralized applications for QuarkChain. While strategies indicate that the team is on the right track, the development team is determined to look for cooperative contracts with all corporate clients as a sign that these are markets and The application that QuarkChain will pursue.

Team + Advisors
Development Team

Qi Zhou – Founder

Qi Zhou achieved 10M tps as a member of the real time infrastructure team at Facebook
Expert in scalability and was a key developer in achieving 10m IOPS with clustering for EMC
5+ years as a software engineer. Short stints with key roles at Facebook (1 year), Dell EMC (2.5 years), Google (9 months) and Ratrix Technologies (10 months).
PHD from Georgia institute of Technology

Zhaoguang Wang – Software Engineer

Zhaouang has 6+ years experience as a system backend engineer working on large complex distributed systems
Key roles at Facebook (1 year), Instagram (4 months), Google (5 years)
PHD and Masters degree in Computer Science and Engineering, University of Michigan

Xiaoli Ma – Research Scientist

Professor at Georgia Institute of Technology (Combined 7 years, 10 months)
Previously CTO and Co Founder of Ratrix Technologies (6 years, 5 months)

Yaodong Yang – Research Scientist

Vice Chairman in Education at Xi’an Jiaotong University, Frontier Institute of Science and Technology
Co-founder of Demo++ (Tech Incubator)
Yaodong has authorized 50+ papers in peer reviewed journals and has over 600 citations in his name.

Wencen Wu – Research Scientist

Wencen has been a Assistant Professor at Rensselaer Polytechnic Institute (4 years and 6 months).
Has a MSC and PHD in Electrical and Computer Engineering

Operations Team
Partners and Investors
Anturine Xiang – Marketing and Community

Anturine has 6+ years experience within finance and technology at Wall Street and Silicon Valley
Key Roles as Lead Platform Analytics at Wish, Business Development and Marketing at Beepi, Consumer Marketing and Analytics at LinkedIn

Partners and Investors

Phadke Arun
is a University Distinguished Professor emeritus in the Department of Electrical Engineering at Virginia Tech
Fellow of National Academy of Engineering, USA

Bill Moore

Managing Director of Walden International (Global venture capital firm)
Previously Chief Engineer Sun Microsystems who co-led the ZFS team, also Former President of DSSD/EMC (Dell)

Mike Miller

Mike is a PhD Physicist with 100+ publications
Founder of Cloundant which was acquired by IBM in 2014

Kevin Hsu

Kevin is a serial investor in blockchain companies

Leo Wang

Leo is a recognised cryptocurrency fund manager who invested in blockchain projects.
He is an Angel investor in NEO with over 17 years of field experience in mobile internet in China

Zhiyun Qian