1,000,000 TPS how Quarkchain is going to make this possible?
Intro:
QuarkChain- A high-capacity Peer to Peer Transactional system.
QuarkChain introduces a innovative permission less blockchain architecture.
QuarkChain is helping to move blockchain into the next generation, By increasing the current TPS thousands to million folds higher with security.
The main features of Quarkchain are:
Reshardable two way blockchain: Means that quarkchain has two layers of blockchain.
Guaranteed security through collaborative mining.
Anti-centralized horizontal scalability.
Efficient cross-shard transaction.
Simple account management.
Quarkchain Vision:
Quarkchain main idea is to create a power-full distributed system in centralized world that can handle billions of TPS.
Quarkchain aim is to build a platform that can support distributed social media, internet of things(IOT), high frequency trading, gaming and payment system.
Two Blockchain layers:
Quarkchain used sharding to provide high capacity transaction system. So, Quarkchain based on two blockchain layers. The Root layer and the sharding layer.
Some other key Features:
50% of the hashpower will be dedicated to the root layer to improve security.
GPU mining support.
Also Supported the cross shard transactions.
The more number of nodes there are, the more the scalability will be.
Roadmap:
Quarkchain project is underdevelopment.
Projected roadmap for the Quarkchain:
Q2 2018 — TestNet 0.2 release which will cover most of QuarkChain features.
Q4 2018 — Release of Sardinet1.0 release, Smart Wallet , Mainnet (Target ~100,000 TPS at that time).
Q2 2019 — Release of Sardient Core 2.0 , sardinet, Quarkchain Smart Wallet 2.0, Targeting 1million TPS at that time.
Usage of Quarkchain tokens:
QKC tokens are used as fees for transactions performed on QuarkChain. It will also be utilized as miners reward. The value of QKC tokens should totally depend on the usage and adoption of QuarkChain. The more transactions being made on QuarkChain, the more worthy QKC tokens should be.
The initial tokens released will be ERC-20, and the actual coins which will be released with the mainnet ,which is scheduled in Q4 of 2018. At time of mainnet release, the Erc-20 token will be swap.
Lead in Blockchain 3.0
Testnet is already showing a TPS of 2,000 using just a few AWS nodes, which puts quarkchain ahead of most blockchain 3.0 projects.
Team
The Quarkchain team consists of very talented 9 members
Qi Zhou, Founder — PhD in Electric and Computer engineering, with the most recent being with Facebook
Zhaoguang Wang, Software Engineer — 7 years’ of work experience in software engineering.
Xiaoli Ma, Research Scientist — PhD in electrical engineering and have 7 years’ experience.
Yaodong Yang, Research Scientist — PhD in engineering
They also have excellent advisory team including Mike millar and Bill Moore.
Summary
Project name: QuarkChain
Website: https://quarkchain.io/
White paper: https://quarkchain.io/quark.pdf
Token symbol: QKC
Hard cap: $20 million
Bonus structure: TBA
Private sale / white list: whitelist on next Monday 2018/05/07 00:00:01 am PST
ERC20 token: Yes
Countries excluded: TBA
Timeline: Tokensale to begin at the end of May or early June.
Token distribution date: TBA
For more information about the ICO, please visit the following links:
Website: https://quarkchain.io/
Whitepaper: https://quarkchain.io/quark.pdf
Blog: https://medium.com/@quark_30920
Telegram: https://t.me/quarkchain
Github: https://github.com/QuarkChain
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