Type: Blockchain
Scalability is a word you’ll hear a lot in the crypto world. It refers to the potential for a blockchain service to grow over time, without grinding to a deathly crawl under the weight of its own popularity. (Bitcoin, we’re looking at you!😠)
🔗 In an effort to extend the ailing lifespan of the original blockchains, many firms have turned to what’s known as off-chain solutions.
No, that’s not a term for a fake necklace; it’s the name of the technology which many companies hope will open up the blockchain for mainstream use.
One such company is QuarkChain. The Ethereum-based QuarkChain (QKC) uses a technology called shards. These shards are formed in an elastic layer on top of the main blockchain, and they act as sub-channels which conduct transactions without having to go through the blockchain.
🌊 Imagine a river that’s been dammed up by some pesky beavers. Shards are like troughs which are dug around the dam that allow the water to continue flowing. Then the shards call the relevant authorities and have the beavers killed in a humane manner. It’s a bold idea to say the least.
A solid MVP has been demonstrated with 2,000 transactions per second (testnet phase). High-throughput transactions is the main idea behind the project, and it’s an idea with money written all over it for the firm that gets it right.
🎓 The QuarkChain team have more PhD’s among them than a medical convention. A history of work on major projects, like Google, Facebook and Dell also instills some confidence. The group of advisors behind the team come from a scattering of relevant industries, and includes a Benjamin Franklin Medal winner for science and engineering - i.e. the next best thing to Benjamin Franklin himself.
A relatively low hard cap of $20 million is attractive, but the bad news is that Quarkchain faces stiff competition in the form of other off-chain cryptos like Lisk (LSK) and IOTA (MIOTA).
The good news, however, is that the market cap of those coins range between 1 and 5 BILLION dollars. Giving QKC room for possibly exponential growth.
The hype on this one is strong, and has attracted nearly 40,000 people to its Telegram page without much of a marketing strategy.
🔜 QKC is an ERC20 token, but with smart contracts of their own in the pipeline and a projected tps rate of millions, QuarkChain could be climbing the vaulted stairway to the CoinMarketCap Top 10 before long.
🔍 Clues for:
- Team members with solid mainstream experience.
- Strong community anticipation and pre-launch popularity.
- Will support Ethereum apps, and could be the service which opens up the scalability of Ethereum.
- ⛏Collaborative mining – mining rewards are distributed evenly among shards. Over 50% of hashing power remains on main blockchain for security.
⛔️ Clues against:
- High tps usually comes at a cost. QuarkChain claim otherwise, but aligning high tps with strong security and decentralization is not easy.
- Lot’s of off-chain solutions for scalability are already in development. Stiff competition.
👌 The case has been solved!
Ultimately, QuarkChain comes with many promising...promises. But so too do many other crypto projects. The use of sharding, along with Ethereum network compatibility, makes QuarkChain possibly more than just a scalable payment and remittance service.
📈 RATING: 88/100
💻Website: https://quarkchain.io/
✉️Telegram: https://t.me/quarkchainio
🗓ICO starts: TBA – Around May/June 2018
💰Hard Cap: $20 million
💯Total tokens: 10,000,000,000
👛Tokens to be sold: 20% (2,000,000,000)
🔎Early Access Sale Start: TBA
📃Whitelist: TBA
🚫Private Sale: Overbooked
🔙Presale: None (beware of presale scam)
If you enjoy our reviews, please consider following us at:
Telegram: https://t.me/icoinvestigator
Twitter: https://twitter.com/icoinvestigat0r
For feedback and review suggestions:
[email protected]
This is not financial advice and is not intended to be used as such. We are not financial advisors. Always do your own research.