QuarkChain is a project to create a scalable, secure, distributed platform.
There is also a competition of Zilliqa that is 10 times more than ICO at the time of article creation, and it is also expected for the future.
This page summarizes the characteristics of such QuarkChain and ICO information .
If you read this, from the basic features to the difference with Zilliqa, QuarkChain is perfect for.
Let’s grasp the outline of QuarkChain
Overview of QuarkChain
ICO information and token metrics
QuarkChain’s ICO information
|WhiteList|| 2018/05/07 – 2018/05/21 |
There is lottery
|Issue number||10,000,000,000 QKC|
|Procurement amount||the amount||20 million USD|
|PrivateSale||16 million USD|
|ICO rate||1 QKC = 0.00003 ETH|
QKC will be an ERC – 20 token until main net ver 1.0 (planned Q4 for 2018) is released.
The use of QKC is open, and it is to be used for payment of transaction fee and remuneration to community contributors.
- About the drawing of QuarkChain
- In order to participate in ICO of QuarkChain (pass through WhiteList), after joining Telegram, after Quiz’s answer, you need to participate in a lottery.
Points are assigned according to the point by Telegram participation time point, Quiz point, contribution degree to other projects, and lot drawing rights corresponding to the score are distributed to people with a total score of 60 or more. After that, you can participate in the ICO if you win the lottery.
Introducing the five features of QuarkChain! What are the merits and potential for using QuarkChain?
It describes the features of QuarkChain.
First let’s know what QuarkChain is like and what problems can be solved.
A platform that can build dApps and Smart Contract
QuarkChain is a scalable platform for block chains .
You can create dApps and implement Smart Contract on QuarkChain like Etheriam and NEO.
It is easy to imagine that it is an Ethernet that can deal with scalability problems .
We can handle about 1,000,000 transactions per second
It is a feature related to scalability problem solving.
As you can see from the image of the official website, the TPS of QuarkChain is much bigger than Bitcoin, Ethereum.
- What is TPS
- It is the first letter of transaction · second. It shows the number of transactions that can be processed per second.
VISA is the most widely used payment service in the world.
If you compare like this, you can see how amazing TPS that QuarkChain can handle well.
Easy to move dApps etc. of Ethernet from QuarkChain
It is one of the reasons that QuarkChain is drawing attention.
You can easily transfer applications etc. running on drafts as dApps on Ethernet to QuarkChain.
This is because QuarkChain is compatible with EVM’s Smart Contract .
- What is EVM’s Smart Contract
- The transaction of the Enterprise is done via EVM (Ethernet Virtual Machine). It is an image that there is an interpreter of Ethiariam in QuarkChain.
Minor weak power can also be rewarded (useful for network decentralization)
The mining of many virtual currencies is called PoW , which makes it difficult for minors with a small hash power (calculation power) to earn rewards.
- What is PoW
- Only the minor who completed the calculation the earliest is a mining system that can earn rewards. Calculation can be done faster, minor of big hash power is advantageous.
For the mechanism of PoW, minor people minify together and work and divide the earned reward. (Make a mining pool)
However, this is not a good thing in terms of decentralization.
This is because the power of one mining pool gets bigger.
- Problems of mining pool
- Block chains are essentially those that monitor the network and maintain soundness. With the mining pool, if the power of one person gets bigger, the health of the network tends to be lost.
But in QuarkChain minor with a small hash power is also structured to get reward properly.
This is because QuarkChain ‘s mining and reward mechanism is slightly different from Bitcoin, etaryam, etc.
In QuarkChain, you can decide the proportion (difficulty) of reward for hash power yourself.
By choosing a mining with a low difficulty, you can avoid competing with a minor with a larger hash power, and you will be able to earn rewards.
- An easy-to-understand example
- Mining reward … 100
Required hash (difficulty) … 100
- Mining reward … 1500
Required hash (difficulty) … 1000
- Mining reward … 20000
Required hash (degree of difficulty) … 10000
※ The rates introduced here are random.
In this case weak hashing minor can also earn rewards. In other words, minor can be dispersed!
- Mining reward … 100
In the official whitepaper, the expression “can buy mining rewards in the currency of hash” is expressed.
The mechanism of the rate is like “It will be beneficial for bulk purchase”.
Utilizing the mechanism of QuarkChain will eventually lead to minor decentralization and a more decentralized healthy network will be established.
Cross chain can be implemented
In QuarkChain you can implement a cross chain.
Specifically, “exchange QKC and Bitcoins without exchanges” will be able to do.
- What is cross chain?
- It is a technology that enables direct dealings with different chains such as Bitcoins, Ethernet, NEO
Introducing technologies that support scalable QuarkChain!
In the five features of QuarkChain, QuarkChain has described the features that are said to be highly distributed, scalable and secure platforms.
I will introduce the technology that supports QuarkChain.
- QuarkChain also has high code evaluation
- QuarkChain’s code evaluation (evaluation of the quality of the code) is quite high in overseas code review sites and so on. Although it is in English, you can see that it is highly appreciated just by looking at the “QuarkChain Code Review Conclusion” part of QuarkChain Code Review – Deep Dive.
Sharding technology (2 layer structure)
QuarkChain adopts sharding technology and can divide the processing of the block chain.
This makes it possible to increase processing speed.
|Chain name||Block name||Verification time||Main role|
| Route chain layer |
|Route chain||Route block||Within a few minutes||Verification|
| Sharding layer |
|Shard||Minor block||Few seconds||ledger|
Shard layer (1st layer)
This is the secret of QuarkChain ‘s scalability.
- Points of the shard layer
- Processing time can be shortened by processing “part” instead of all of the transaction
- Since minor blocks can be increased or decreased, even if transactions increase, they can respond
In the shard (minor block) part of the transaction is processed, so processing speed is improved compared to processing all.
Also, as this number of minor blocks can be increased, even if transactions increase, the overall processing speed will not decrease.
- An easy-to-understand example
- It is easy to understand by imagining road expansion work. By increasing the lane (minor block), the car will flow more smoothly. (It does not matter if the number of transactions increases.)
Route chain (2nd tier)
The role of the route chain is to bundle the first layer minor blocks (each shard) and build it as the entire network of QuarkChain.
Part of the approved minor block (block header) is stored in the root chain.
We do not process transactions here, we will bundle blocks of the first tier that have been approved.
In this way, by dividing the processing and checking of the entire network, QuarkChain can operate stably even if transactions increase.
For mining, more than 50% hash is allocated to the root chain (layer 2)
Mining’s hash power is split between layers 1 and 2.
Assignment of hash power at this time is divided by the route chain (layer 2) by 50% or more, and all shards (1st layer) by the rest.
In this way, in order for a malicious minor to dominate the network, it is necessary to have at least 25% of the hash power of the whole.
- If this is the opposite and the 1st layer has 50% or more, it will be able to take over the second layer managing the whole network with a smaller hash power.
This is lower than “51% attack” such as Bitcoin.
QuarkChain deals with this problem by clustering which we will introduce next.
Clustering is a technology that collects mini-nodes and can create substantial full nodes.
- What is a node?
- Here it is easy to understand if you consider minor = node. In other words, a small minor cooperates in clustering to become one big minor image.
In the mining of QuarkChain, it is as explained in “Characteristics of QuarkChain” that mining rewards can be obtained even with a small hash power .
Each minor is a mini-node in QuarkChain’s network, and its aggregate is a substantial full node .
Because some minor gathers to make a full node, one big minor makes it difficult to control the network.
The mini-node can not check the whole transaction .
By comparing data with other nodes, you can check the whole data.
Even if some mini-nodes in the cluster become inoperable, the mechanism that keeps the function as a node (cluster) is revolutionary.
Cross-shard transaction is a technology that allows transactions between different shards.
This makes it possible to solve the so-called ” train and hotel problem “.
Suppose you do a transaction process to book a train with shard 1 and a transaction process to book a hotel with shard 2.
At the time of this trip reservation, if one of the reservations can not be made, both reservations should be canceled, reservation of the trip will be completed only after both reservations are made. In other words, under such circumstances, it will be two choices: “Can both be booked” or “Do you want to reserve both?” We do not have the option of only making one reservation and not making the other reservation.
Cross-shard transaction technology enables complex smart contracts in scalable environments.
Cross chain mounting uses adapters or sharding
QuarkChain can implement cross-chain in two ways.
How to use an adapter for external transaction This is a method to convert a token (such as a Bitcoin) of an external chain of QuarkChain into a token that can be handled on QuarkChain by converting with an adapter.
How to record external transactions in a shard This is a way to store an external chain as a sub-chain (or one of the shards) and exchange it using cross-sharded transactions.
Smart wallet · smart account
Normally, to manage and access information on different shards, an account corresponding to each shard is required.
But if you have a QuarkChain smart account (wallet) , you will have access to all shards by having only one main account.
Thanks to smart accounts (Wallet), users can use applications on QuarkChain without being conscious of the same shards / different shards.
Project progress is fast! What? Let’s check QuarkChain road map
This is the road map (live version) as of May 2018.
You can check the latest road map on the official website of QuarkChain.
|2017 Q2||Research on scalability problems|
|2017 Q4||Draft white paper|
|February 2018|| Verification code 0.1 |
White paper published
|March, 2018|| Test net 0.1 |
|2018 Q2|| Test net 1.0 |
Smart Contract 0.1
|2018 Q4|| QuarkChain core 1.0 |
Main net 1.0
Smart wallet 1.0
|2019 Q 2|| QuarkChain core 2.0 |
Main net 2.0
Smart wallet 2.0
【March 2018】 Test net 0.1 · wallet 0.1
Test net ver.0.1, Wallet ver0.1 will be released.
Test net ver.0.1 corresponds to basic transactions in both shards and cross shards.
【2018 Q2】 Test Net 1.0 · Smart Contract 0.1
Test net ver1.0 will be released.
Test net ver1.0 supports smart contract.
【2018 Q4】 QuarkChain core 1.0 · main net 1.0 · smart wallet 1.0
The QuarkChain core ver1.0 (network which implements QuarkChain basic function and optimization) is released.
Core, main net, and wallet are going to be released all at the same time.
【2019 Q2】 QuarkChain core 2.0 · main net 2.0 · smart wallet 2.0
Core · Mainnet · Wallet ver2.0 is further optimized version of ver1.0.
Clustering is also implemented.
Introducing the main team members! Let’s check the background
I will introduce the main team members of QuarkChain.
In conclusion, QuarkChain has excellent talent. I am from Google, Facebook.
Let’s look at each and every one.
【CEO】 Qi Zhou
|Software Engineer. Experience with scalable projects on Facebook, Dell EMC.|
|He graduated from the Georgia Tech University|
|Dell EMC||2.5 years|
【Engineer】 Zhaoguang Wang
|Software Engineer. One year on Facebook as a back end engineer and more than five years experience at Google.|
|He graduated from the University of Michigan (Computer Science and Engineering)|
【Researcher】 Xiaoli Ma
|researcher. Co-founder · CTO of Ratrix Technologies, LLC.|
|He graduated from the University of Minnesota / Electrical Engineering|
| Georgia Institute of Technology |
|3 years 11 months|
|Ratrix Technologies, LLC||6 years 6 months|
| Georgia Institute of Technology |
【Researcher】 Yaodong Yang
|researcher. Co-founder of DEMO ++. Over 50 publications, over 600 citations available.|
|Virginia Polytechnic University Ph.D.|
|DEMO ++||2 years 11 months|
| Xian Jiaotong University · Frontier Science and Technology Research Institute |
|3 years 9 months|
【Marketing · Community】 Anturine Xiang
|Experience in data analysis in various industries.|
|Graduate from Johns Hopkins|
|Beepi||1 year 6 months|
|Chartboost||1 year 2 months|
Let’s also know the problems and concerns of QuarkChain
It is also important to know about problems and concerns in order to understand the project properly.
I will summarize the main points of caution, so let’s look over here as well.
There are many competitors
QuarkChain is a project aiming at building a scalable platform.
Projects of scalable platform type have many competitors .
In the case of many competitors, the speed of development is a very important point as the platform that gained share quickly becomes advantageous .
- It is a big merit of QuarkChain that we can transfer dApps on the most share of current share to QuarkChain.
Attack to the network with 25% hash power
To attack QuarkChain’s network, you need to have at least 25% of the hash power of the whole.
This is less than 50% of Bitcoins.
Although it is structured to distribute the minor power by clustering etc., I do not know whether it can continue to operate without being actually attacked.
【Compare competitive projects】 What is the advantage of QuarkChain?
Finally, let’s check about the main projects that compete with QuarkChain.
It can be used as a reference when determining the market capitalization of the project.
The difference between QuarkChain and NEO · EOS is dispersibility
NEO and EOS are also platforms capable of high-speed transactions.
Compared to this, QuarkChain is superior in that it is a more decentralized structure .
Because NEO and EOS are managed by the development team by nodes, it is hard to say that NEO and EOS are truly decentralized mechanisms.
On the other hand, QuarkChain creates a mechanism that makes it easier for many minors to participate, by means of a mechanism for decentralizing mining.
The difference between QuarkChain and Zilliqa is Sharding
Zilliqa is also a scalable platform implementing sharding.
QuarkChain is a project frequently said to be such an upper version of Zilliqa, and it often goes to be compared.
Advantage of QuarkChain vs Zilliqa
Zilliqa … Shard = node
QuarkChain … Shard = Block chain
→ Zilliqa is scalable when the node is running
→ QuarkChain can inherit verification even when a node stops or overloads
Cross shard, cross chain (ZIL is planned to be introduced by WAN etc.), EVM support etc.
– Sachan – cryptocurrency blog (@ vcvc_stc) May 12, 2018
QuarkChain and Zilliqa have big differences in dividing data (sharding) .
- Difference between Zilliqa and QuarkChain’s shard
- Zilliqa will divide the transaction and decentralize its processing and become scalable
- QuarkChain is a block chain itself (two-layer structure), even if a node can not operate due to overload etc. can be handed over by other nodes
In addition, QuarkChain is a considerably big point that we can transfer quickly from the largest share of the E-Mail corresponding to EVM.
【Great attention ICO】 QuarkChain Conclusion
We summarized QuarkChain’s features, technology and competition.
Projects that can solve the scalability problem are very attentive.
Those who want to know more about QuarkChain read the white paper and check official Twitter etc.
Author: Satchan 【Coin Desk News】 – Source Post: https://crypto-times.jp/qkc/
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and informational purposes only. We are not an investment advisor and do not provide financial advice.
It’s also important to it properly to diligence and analysis, including consulting a professional financial advisor, No content on Coin News Desk makes up a recommendation to enter in any type of investment or to engage in any investment strategy present on this website.