The QuarkChain ( Token name is QKC) is a new ICO focus on blockchain scalability expected to raise 30+ million US dollars before June 2018.
Quarkchain is expected to do well due to the problem it is trying to solve performance /scalability issue in blockchain space. It is a multi-layer(layer 1 and Layer2 ), peer-to-peer transaction blockchain.
QuarkChain is an ERC-20 token which means it will run on the Ethereum blockchain. The mainnet is expected to get launched in Q4 2018 . Also note the ERC-20 tokens will be converted to the actual Quarkchain mainnet token by pre-mining when mainnet is launched. Miners will produce Quarkchain token after mainnet (There is a revenue stream for miners in future is a good news for long term holders).
The first layer of system contains elastic sharding blockchain - First layer contains all minor blockchains which is capable of processing transactions - It is capable to process the transactions in parallel. while the second layer is comprised of a root block chain that will confirm the blocks from the sharded blockchain present in Layer 1. It is quite interesting to know network supports adding more shards in the active network which is required in future.
Its import to note Layer 2 (root chain) will be used to confirm the blocks and but it does not process transaction itself.
The high level architecture of QuarkChain is focused on security, scalability and decentralization.
Two types of transactions enabled in Quarkchain
- Transaction inside Shard (transactions between addresses present on same shard)
- Transaction on cross-shard (with different shards , this will increase throughput of the cross shard transaction systems)
Why Quarkchain is an important solution to watch
- Focused on scalability , decentralization & Security ( a must need for blockchain immediately)
- Early entrants with Sharding technology ( Zilliqa is another solution making good progress)
- Node can be increased with out any limit will increase scalability
- GPU mining
- Raising 30M$ which is a low market cap coin
-QKC will be the utility token for making transactions, More activity will increase QKC value
Know the Quarkchain Team :
The key members of the team are :
Qi Zhou, Founder – Ph.D. in Electric and Computer engineering + 5 years’ experience in engineering and software engineering and previous experience in Facebook .
Zhaoguang Wang, Software Engineer – 7 years of experience in software development with big companies Facebook, Instagram, and Google.
Xiaoli Ma, Research Scientist – Professor at Georgia Institute of Technology. PhD in electrical engineering + 7 years’ experience in the tech industry and CTO of Ratrix Technologies.
Yaodong Yang, Research Scientist – PhD in engineering, and a Tenure Track Professor at Xi'an Jiaotong University, and co-founder of Technological Incubator Demo++.
They have Advisors including Arun G. Phadke, Bill Moore, Chief Engineer for Storage at Sun Microsystems, Virginia Tech Professor, Zhiyun Qian, cyber security expert, among others.
Conclusion:
Quarkchain seems to be a great long term token as it is trying to solve complex issues on scalability
Already on testnet with 2000 TPS with few AWS node
Community is growing , adoption will be faster
Based on Solidity , developers will adopt fast![