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Quarkchain


15 May 2014 By  Quarkchain
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Written by: Andreas Souliotis
The upcoming ICO(Initial Coin Offering) crowdsale is projected as of this writing in late May/early June.


Please visit their website at: https://quarkchain.io
Please visit their Github at:
https://github.com/QuarkChain
Please join their telegram at: https://t.me/quarkchain

Today, Bitcoin is by marketcap(Approx: $155 Billion) the largest cryptocurrency in use. However, bitcoins blockchain is facing a big scalability problem. The transaction processing capacity maximum is estimated to be only between 3.3 and 7 transactions per second. In the longer term and for the future, this is not desirable as the global financial transaction volume most likely will grow over the coming years.
A better and faster solution is simply needed and many projects are working and claims to have a solution to this problem. QuarkChain is one of them and is in particular very interesting as they are taking in account 3 very important factors that has to work in sync with eachother:

Scalability, Decentralization, and Security


This is a difficult combination to achieve but QuarkChain have very promising technology to solve this very important problem now and in the future. By using multiple cheap nodes to form a cluster, this can replace a centralized super-full node.
Simply put, cluster technology means scalability and an applicable solution on the blockchain.
Quarkchains capability can mean to handle hundreds of thousands or even millions of transactions per second in the coming 5 years. This is very promising when it comes to the actual value, interest/demand and future of the company.
The numbers refers to what the blockchain can handle when transactions are peaking and not normally as an average TPS(Transactions Per Second)


QuarkChain blockchain consists of 2 layers


The first layer: Elastic sharding blockchains (shards)
The second layer: Root blockchain that confirms the blocks from the first layer.

By using market-driven collaborative mining where minimum 50% of overall hash powers are distributed to the root chain, this both ensures security as well as preventing double spending attack on any transactions.
Quarkchain also offfers a simple account management where only ONE account is needed for the entire blockchain (shards). The simplicity by using only one smart wallet is a big plus for Quarkchain as well.

Quarkchains Vision for the Future


Important to realize is that the company understands that the future of blockchain means scalability issues, - and solutions for that will be an inescapable demand.
This has inspired them to develop powerful large-scale distributed systems that normally has been used in Centralized environments. They have the ability, tools and technology to apply this to the blockchain to create their own unique solution.
This will allow industries that demands higher TPS to tap into Quarkchains blockchain in the near future.
At the moment QuarkChain aims to support Financial payments, Internet of Things(IoT), High frequency trading, social media and gaming.

Final Thoughts on QuarkChain


QuarkChain definitely has a place in the competition of building a High-Capacity peer-to-peer transactional system with a realistic vision for the long term. The team understands the scalability issues and already have competence solving such problems in a centralized environment, knowing how to apply this to the blockchain.QuarkChain has a great team with Qi Zhou as the founder. He is a former Googler and expert in high-performance systems and have 15+ years of development experience. Along with the other 8 team members with impressive backgounds where they have worked on big brands as for example Facebook and Google together with a supporting community of 38000+ members(at the time of writing) and counting on telegram, QuarkChain is off at a very good start with a promising future to solve the demand and scalability for a blockchain needed in the future.








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