QuarkChain - high-performance transaction system P2P

doki16 (14)in #quarkchain • 7 years ago

QuarkChain - high-performance transaction system P2P

What is QuarkChain
Objective of the project
Features of the project
Problems and solutions
How QuarkChain works
Road map
Details of ICO
Conclusion

Recently, innovative digital technologies have begun to change the nature of our economy, communications, education and even daily payments. Financial transactions are becoming global, and the volume of transactions is growing. Over the past two years, many companies have studied block technology. Almost every major financial institution in the world is currently engaged in research on the block chain. Often, all projects that are being implemented that seek scalability sacrifice decentralization and security. Thus, modern platforms need to strive for scalability, while not forgetting about security and decentralization. This is the solution that the platform offers, which we will consider today.

What is QuarkChain Objective of the project Features of the project Problems and solutions How QuarkChain Works Road map ICO Details Conclusion

What is QuarkChain?

QuarkChain is a blockbuster platform that claims to offer 1 million transactions per second (yes, a million!). The platform became one of the most popular May-June 2018. The team itself considers QuarkChain to be a "scalable, decentralized, secure, publicly available chain".

The goal of the project is to create an expanded transactional network that will contribute to the development of the industry. Make the process of conducting transactions as simple and fast as possible. At the same time, to eliminate a number of existing problems in such block platforms.

Features of the project

QuarkChain offers a highly scalable block-based platform that promises a throughput of 1 million transactions per second. QuarkChain has a two-layer architecture, which is responsible for providing scalability. There are two layers: the first is an elastic layer that separates large and small database components. This separation of data is the main feature of the QuarkChain project. The root block chain is the second layer. This is the component that confirms the transactions (blocks) pressed by the first layer. With the help of a special development based on the market platform offers guaranteed security for all operations. This means that 50% of the hash powers of the network are distributed along the root block chain to prevent double-cost attacks. In addition, several more accessible in the content nodes can create a cluster, which in turn replaces the expensive super nodes. QuarkChain will also support smart contracts.

The creators took care that users could interact with QuarkChain through a simple and easy-to-use interface in which you can manage different blocks from one screen, that is, all operations in one place. All addresses can be managed using only one private key.

Problems and solutions

QuarkChain aims to avoid the problems that exist to date for such platforms. Let's look at what these problems are and how QuarkChain solves them.

QuarkChain wants to make a platform that is convenient to use (that is, it must be fast and with a convenient interface), decentralized and secure. To create a peer-to-peer network that is immune to malicious attack, traditional blockchain technologies require that each node completely scan all the blocks and reject any unacceptable. A node in QuarkChain that checks all secondary blocks and blocks of the root chain is called a supercomplete node. If each node in QuarkChain works as a full-fledged one, QuarkChain can have the same level of security as traditional block circuits. High requirements for CPU, storage, memory and network bandwidth of the supercomplete node create a significant barrier. Such requirements may be acceptable only for companies that use powerful resources in their data center. QuarkChain solves this problem by replacing one supercomplete node with several nodes that form a cluster. Thus, saving money for the maintenance of expensive equipment. From this it follows that commission fees from carrying out transactions will be less.

QuarkChain has a reliable infrastructure for full support of mobile DApps (Dapps2go), its design is focused on mobile devices. The team is ready to provide developer tools on the network to create an Android application and make the development of DApps2go as simple as possible. Also, allocate a significant amount of QKC to encourage developers to create their DApps on QuarkChain.

How does the platform work?

QuarkChain offers the following basic functions:

QuarkChain offers two types of transactions, including transactions with fragments and cross-fragments. Any user can issue cross-transaction transactions at any time. Cross-transactions can be confirmed within a few minutes. QuarkChain allows transactions between chains. The root chain facilitates token transactions from another circuit using an adapter. The block chain then performs the transaction as a cross-transaction transaction from the QuarkChain side.

QuarkChain will create a smart wallet, which will have two levels: the main account and the secondary account. The primary account is the default user address, and the secondary account controls the other user addresses in the remaining blocks.

Road map

Q1 2018: the team develops a white sheet and a verification code of 0.1, which, in fact, serves as proof of the concept of the entire system;

Q2 2018: code 0.2 is released, test network 0.1 is implemented with the help of a smart wallet 0.1. the test network 0.1 will support basic transactions, including internal and cross transactions.

Q3 2018: release of the test network 0.2 and smart wallet 0.2. Test-network 0.2 will support most QuarkChain functions, such as contract, etc.

Q4 2018: release of QuarkChain Core 1.0, Mainnet 1.0 together with a clever purse 1.0. QuarkChain Core 1.0 will provide basic QuarkChain functions and basic optimization (for example, GPU support).

Q1 2019: Quarkchain Core 2.0, Mainnet 2.0 together with a smart wallet 2.0. QuarkChain Core 2.0 will further optimize Quarkchain Core 1.0, enable the clustering feature so that inexpensive node groups can form a cluster and work as a complete node.

ICO Details

Token: QKC
Hard Cap: private sale - $ 16M, public sale: $ 4M
Cost: private sale - 1ETH = 39416 QKC (25% of bonuses), public sale - 1ETH = 31533 QKC

ICO: the exact date has not yet been reported, according to preliminary data this is the end of May-the beginning of June. On May 7, the KYC process will begin (know your customer) and it will last two weeks. How to participate, you can find out more in the social networks of the project. The beginning of ICO will depend on the duration of this process.

QKS are QuarkChain's own tokens, which will essentially be carriers of value, can be used as a transaction currency with minimal commissions, reward for contribution or way of interaction between platform users. There is no pre-sale, so be careful with fraud.

Conclusion

The team began research QuarkChain in 2017, and then launched its online version in February 2018. QuarkChain is a block-chain that offers 1 million transactions per second. The platform solves various problems of such existing platforms - excessive centralization, low scalability and security risks. This has been achieved through several mechanisms, such as Collaborative mining, nodal clustering, or the ASW-resistant hybrid root chain PoW-where that works with POW. In addition, based on the QuarkChain platform, you can develop many data mining algorithms and economic models. The analysis will bring valuable feedback to further improve the design of QuarkChain with higher efficiency, so QuarkChain is open for cooperation. Read more about QuarkChain and the team and find out how it works on the official website of the project.