QuarkChain Bi-weekly Project Progress Report: July 9 - July 22

Welcome to the 10th QuarkChain Report for the period from July 9 to July 22! For better communication, we’ll be updating our progress bi-weekly since this week.

1. Big News

1.1. Media Reports

1.1.1. Reports from China

1. QuarkChain CEO and founder, Qi Zhou, had an online interview with JRR this week which was a great success. This is also our first online media live-stream interview. You can check more details of this interview at:
   https://m.xiaoyunquegroup.com/?from=singlemessage#/content/show/5b484882df322306b33624f9

2. QuarkChain CMO, Anthurine Xiang, received an online interview from DeepChain on Friday. Anthurine has extensive experience in marketing. During the interview, taking QuarkChain as an example, Anthurine explained thoroughly to the audience how to do marketing outside of China. The details can be found at:
   http://www.shenliancaijing.com/portal/activity/activedetail.html?id=982&from=singlemessage

1.1.2. Report from Digital Journal

http://www.digitaljournal.com/pr/3854085
More media reports give you a better knowledge of QuarkChain.

1.1.3. Video Interview of QuarkChain Testnet

Decentralized Chain:

OhHeyMatty:

These two interview videos provide you with a more straightforward knowledge of our testnet.

1.2. Korean Meetup

On July 20th, Korean Messenger, Kakao invited ten well-known projects including QuakChain to attend a close-door conference in Jeju, South Korea. QuarkChain team has disclosed many technical details in this conference, which never happened in other conferences before. This shows that QuarkChain is serious about this conference and has good faith in collaborating with other companies.
With this conference, QuarkChain has deepened its relationship with other projects, and thus built an important milestone.

To better understand the technology of QuarkChain, QuarkChain founder and CEO, Qi Zhou wrote two technical articles. We will post a serie of technical articles later on. Please stay on tuned.

Article 1:
https://medium.com/quarkchain-official/quarkchain-explained-part-1-brief-introduction-of-blockchain-scalability-and-quarkchain-df3f515e3a3e
Article 2:
https://medium.com/quarkchain-official/quarkchain-explained-part-2-sharding-brief-introduction-and-challenges-in-blockchain-fd5b2dc09d1b

1.3. Japanese Offline Activity

After the private conference held by Kakao, QuarkChain team attended a technical sharing meetup in Japan on July 22nd with two ecosystem partners. All partners had a smooth and deep discussion about their projects.

During the meetup, QuarkChain CEO, Qi Zhou introduced some information about the recent testnet and technical details, and CMO, Anthuring Xiang introduced QuarkChain community development and recent plans. With many positive feedbacks collected from attendees, we have strengthened our confidence that QuarkChain will achieve more success in the blockchain field.

Our ecosystem partner, PlayTable had a demo of their product in the meetup. This ecosystem alliance further sheds the light of QuarkChain’s bright prospect.

After the sharing meetup, audiences were unwilling to leave and had a warm discussion of blockchain. Many of them were eagerly investigating the technical details and ecosystems of QuarkChain.

1.4. Testnet Activity

Since the testnet 1.0 was released it has attracted more than 3000 active registrants and generated more than 50000 transactions within four days. The screenshot below is a part of the testnet records.

2. Strategic Partnership

2.1. QKC is listed on LendChain

There are increasing number of projects in blockchain society showing their interests in joining us after the launch of our testnet on July 7th. We will introduce our new partners in the following paragraph.

2.2. Gec Academy

Founded by alumni from Columbia University and Harvard, Gec Academy is a live streaming small-class learning system aiming to provide long-distance education, internship and face-to-face mentorship for Y12 group of people (mainly 15 to 26 years old). The live streaming courses and mentor-mentee interaction mechanism provide opportunities for students to communicate with teachers from prestigious schools, Wall Street managers and experts directly. Students will benefit from the deployment of their projects, which is a solution to mitigating the unbalance of education resources.

Y12 (Youth Twelve) means the most valuable twelve years, including high school years, four years in college and early career years, of a person in terms of competitiveness, career choices and social circle establishment. Providing long-distance mentorship and internship for students by sharing education resources of Ivy League, Wall Street and Silicon Valley, Gec Academy wants to balance Chinese advanced education resources.

Establishing a strategic partnership with Gec Academy has enlarged application scope of QuarkChain: in addition to the contributions in economic/financial and entertainment systems, we also extend a contribution to social education area.

2.3. Udap

Udap is a decentralized and universal asset management and transaction platform built on blockchain. Extending assets from internal enterprise to blockchain and building the two-way binding of real-world commodities, services, virtual assets and cryptocurrency, Udap can register, verify, confirm and trade assets on blockchains. The third-party developers can complete the transformation from internet business mode to blockchain token business mode with quick access to blockchain via Restful API provided by Udap or WebSocket without understanding blockchain technologies.

Udap serves as a “middleware” in the era of blockchain and can be deployed on public chains such as Ethereum, Cosmos and EOS. It provides blockchain dApp developers with a stable and abstract asset lifecycle management, transaction and search module and development API based on blockchain.

This new transaction platform ensures successful operations within the ecosystems. The multiple-direction extension of Udap can satisfy requirements of different customers and solve the connection problem within blocks. Building strategic partnership with Udap helps to build a high-speed and convenient ecosystem, which is our long-term pursuit.

2.4. eChain Decentralized eCommerce Protocol

eChain provides the quick access to bottom public chain for partners. Concretely, eChain builds its own business by utilizing existing developed business components and supporting third-party developers to develop new business components, technical APIs and public chain adapters. eChain also adapts to new mature public chains without affecting online business development.

eChain divides cross-border e-commerce into two parts, i.e. transaction and supply chain. It supports supply chain partners to develop the dApp ecosystem of the supply chain, such as manufacturer, logistics, warehousing, customs clearance, traceability, insurance, and payment, and build a trusted, traceable and high-performance supply chain system, based on which eChain will introduce transaction dApps for sellers and buyers.

Once participants of global e-commerce accept eChain protocol, they can provide data to get better services and get the authorization of data usage to build decentralized apps in insurance, traceability, anti-counterfeiting, distribution, payment and transaction fields, which will help with the achievement of logistic, information flow and capital flow transparency, reduction of intermediate cost and the development of global e-commerce.

E-commerce has become the main mode of commodity trading with the progress of the Era of Internet, and the combination of cross-border e-commerce is very important. Based on blockchain technology, cross-border e-commerce not only can simplify the procedure, but also will stimulate the cyclic development of market.

The above QKC ecosystem strategy graph has shown a clear ecosystem deployment. Meanwhile, as the starting point of strategic deployment, QEF ecosystem foundation is of significant meaning. We will introduce detailed project progress in the next report. Moreover, QuarkChain Beijing office was officially opened this week. As the Capital of China, Beijing is the center of Chinese politics, economy and culture. Rooted in Beijing, QuarkChain will have a better opportunity to catch up with market trend and explore more resources under favorable policies. We strongly believe QuarkChain will have a better development and make a bigger progress in the near future.

This is the end of our introductions to our strategic partners this week. We hope you can continue supporting us. In the next report, we will summarize our next activities and show broader ecosystem deployment.

3. New Face

Before joining QuarkChain, Liang was a senior software engineer at Facebook News Feed Infrastructure team, which handles requests from more than 2 billion daily active users. The massive scale gained him years of first-hand experience on the high-throughput distributed system. He led multiple performance and reliability projects that successfully turned into wins. Before Facebook, Liang worked at Oracle's high-performance server team. He holds a Master's Degree of Computer Science from Duke University. As a technology enthusiast, Liang has paid attention to blockchain from its early stage. Due to blockchain’s simple yet elegant design, Liang believes that blockchain will have a wide range of applications.

4. Development Progress

1. Scheduled load testing regularly to help identify system bottlenecks and potential bugs; added monitoring & analytics for each individual shard to track their health and progress.
2. Improved development tools, including batch deployment for smart contracts and batch funding for our testnet accounts; automated development tools for multiple clusters; also started integration with MetaMask for testnet 1.0.
3. Improved testnet frontend and fixed incoming bugs/addressed popular feature requests during the public testing; added a simple betting game with smart contracts; added a leaderboard for tQKC holders.
4. Finished Q3 engineering development plan, prioritized the desired features for the mainnet, developer support/tooling ecosystem, and certain application cases matching QuarkChain’s throughput.

FYI:

1. We open our official Reddit account now! Welcome to subscribe us, post there and ask us questions at https://www.reddit.com/r/quarkchainio/!
   (NOTICE: our website URL ends in r/quarkchainio, NOT r/quarkchain!)

2. We also have a new Medium account: https://medium.com/quarkchain-official ! Welcome to continue following us and posting comments!

3. There was a very good question in the AMA of last week, and this is also a universal question asked in our community:

   Q: QuarkChain is 25% attack vulnerability and Zilliqa is 33%, does it mean QuarkChain is less security than Zilliqa?

   A: About the security, it is controlled by several factors. First, all transactions in the QuarkChain Network are protected by 50% of the overall hash power of the network, and a double-spend attack requires at least 25% hash power of the total network. This is smaller than single-blockchain’s 50% or Zilliqa’s 33%, but since the QuarkChain Network is more decentralized, a miner will be much harder to collect 51% or 33% hash power in our network than that of single-blockchain or Zilliqa. Thus, one cannot claim by just comparing the numbers.

Thank you for reading this Bi-weekly Report! The QuarkChain community appreciates your support!

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