Quark Chain ICO Review
Today I’m doing a dive with QuarkChain ICO.
QuarkChain is a 2-storey blockchain, the first floor is flexible sharding and chain on the second floor. Imagine Ethereum is a root a chain and it has many side chains, we have POA, we have chain of dApp (from the Loom Network — the new generation blockchain platform for large-scale online games and social applications), each side chain will be attached to the root chain of Ethereum. This is the simplest explanation of the two-tier approach.
Ethereum currently uses the ERC20 token (such as the EOS token, TRX …) and when other side chains build, it will have its own token ER20. Instead of this, QuarkChain will give you an idea of how to use flexible block shake, a new token that will be added when there is a new blockchain, and each token will still be validated in Ethereum’s main chain.
QuarkChain, the high capacity, peer-to-peer, transactional system. Quarkchain aims to develop its own blockchain, a blockchain that extends scalability — up to 1 million transactions per second (TPS), according to the project — without compromising security and decentralization. We’ve been here before. Credits claimed this.
In my opinion let`s please take a step back and look at our current ecosystem. Right now our highest production blockchains are maxing out at around 2k TPS, so can we please make our target a production level 10k TPS? And then can we focus on 50k TPS?We still have a lot of targets to reach before 1m TPS, but we’ll see.
In main objectives are :
• Enhance scalability while ensuring security and decentralization.
• Enable seamless cross-compliance to ensure a quality user experience.
• Provide simple account management for customers; There is only one account for all the pieces.
• Providing open infrastructure for DApp requires high transaction throughput.
• Be an eco-driven.
Quarkchain token is QKC and it will act as the management currency in the ecosystem. It will be used to pay the network fee, as a means of exchanging value, and to reward community members for their contributions.
Some of the main features that QuarkChain wants to implement are :
Quarkchain consists of two main layers that are in charge of the private duties. The first layer is the shards, which solves many small files of deals independently. The more number of strings separate, the large number of transactions that can be processed. The second layer — the original string — has the function of confirming transactions in the first string without performing transaction processing.
Quarkchain supports two kinds of the deal: cross-shard and in-shard. In-shard is the deal that has sending and receiving addresses in the same shard. Cross-shard is the deal with two kinds of these addresses in the different shards. The cross-shard’s supporting helps speed up the system.
Quarkchain supports managing the simple systems. In theory, we need a lot of accounts to access a string. Quarkchain develops a smart wallet that allows us to store all data and coin in many different strings, just need only one private key.
Quarkchain is supported smart contracts through EVM (Ethereum Virtual Machine). This resolution helps Quarkchain easily to compatible with existing Daaps.
Quarkchain development team is created and developed by a great team with many experiences master in technology and deep knowledge in many fields. They had worked in a lot of big corporation like Google, Dell, … However, most of them do not work for Quarkchain full-time.
Qi Zhou, Founder and CEO. Short stints at EMC, Google, and Facebook. To get hired at each of those firms is a testament to his ability. One knock on his experience is how short of a time he spent at each. Those criticisms are less important for entrepreneurs. His experience at each of these firms revolves around sharding and clustering. Those are right skill sets.
Yaodong Yang, University of Michigan (as an alum… Go Blue!). Experience at Google, Instagram/Facebook. Likely knows Qi from Facebook.
Xiaoli Ma Ph.D. Electrical Engineering, University of Minnesota. Current research in signal processing for communications and networks. Useful skillset for the project. She brings strong academic experience as a professor at Georgia Tech and an Institute of Electrical and Electronics Engineers Fellow.
Arun Phaedra — Professor Emeritus of Electrical Engineering at Virginia Tech. Ph.D. from University of Wisconsin. Area of focus is energy engineering.
Bill More — Founder/CEO of DSSD, later acquired by EMC. Partner and Managing Director of Walden International, a startup technology VC.
Leo Wang — Head of PreAngel VC (a large Chinese venture fund focused on early stage startups). Qlink advisor.
Mike Miller — General Partner of Liquid2 Ventures. Angel investor in AngelList. Founder and Chief Scientist of IBM Cloudant. Affiliate Professor at University of Washington.
Kevin Hsu — Masters of Computational Statistics and Machine Learning from UCL. Partner in Dragonmind Capital. Blockchain investor, CEO/Founder of Block VC Fund.
Zhiyun Qian — Experience at Microsoft and Cisco. Assistant Professor at University of California Riverside. Focused on cyber security.
The development team and advisor team are experienced in technology and worked in many large corporations.
Quarkchain is trying to solve the “really, really fast blockchain” problem. So are a whole slew of other teams as I mentioned in this post. Zilliqa is testing their solution and have proven their testnet is up and running. Ethereum’s sharding solution is supposedly underway. Credits is in flames in the public eye. It is a very competitive space that they are entering and the market conditions are shaking.
As for the token metrics, it’s impossible to say what we are looking at in terms of price evaluation. Token metrics to be announced. I know that their private sale has already closed. Their public sale is targeted for the end of May or beginning of June. Hard cap of $20M.Quarkchain is an attractive project that can help you get profit in a short-term investment. On top of that — unlike some recent projects like.