Hello,
I am CoolGuy! Today, we are going to talk about the best project: QuarkChain!
Background:
Blockchain, as the underlying technology of the new generation of the Internet, has received more and more attention. Its application has been extended from the financial field to the Internet of things, intelligent manufacturing, supply chain management, social governance, public services and other fields. Its technology has also gone through the blockchain 1.0 to 2.0 and now everyone is working on 3.0.
The representative of Blockchain 1.0 is known as Bitcoin, a point-to-point electronic cash system, and its birth also marks the formation of blockchain technology. The representative of Blockchain 2.0 is the smart contract of Ethereum, and the smart contract proposed by “V-God” marks the blockchain’s entry into the 2.0 era. Now everyone wants to move closer to the blockchain 3.0, and QuarkChain is one of them.
It can be said that blockchain 1.0 is the “Creation”. Before that, the world was operating in a centralized way. People are accustomed to the high efficiency and convenience brought about by the high degree of centralization, and they also bear the high cost for the maintenance of a huge center. How to limit the power of the center to do a game that never stops. The birth of Bitcoin and the birth of the blockchain brought people a completely new way of thinking, allowing people to jump out of the paradigm of thinking about how to control costs and how to limit power, and to think about how to share costs and distribute power.
Although making people’s way of thinking change, Blockchain 1.0 is still only a point-to-point electronic cash system. With only one bitcoin, blockchain technology is not yet widely available. Ethereum of Blockchain 2.0 solves this problem. The introduction of smart contracts allows people to use blockchains simply and easily, typically in various blockchain projects that broke out in 17 years. With the help of Ethereum and smart contracts, the application of blockchain technology becomes simpler and easier. Convenient.
But at the same time, new problems have arisen again and that is applicability. The world of blockchain has a “impossible triangle” of security, decentralization, and extensibility. The ultimate security and decentralization must result in inextensibility. Bitcoin is an example, and its security and stability are running. Years, but with the increase of users, expensive fees and slow transaction speeds have become their most serious problems. Blockchain 2.0 solves the problem of blockchain availability, making blockchain technology simple and usable. Anyone can easily use blockchain technology, but it does not solve its applicability. Without scalability, there is no way to apply it. For large-scale commercial applications, blockchain 3.0 is to solve the problem of applicability.
At present, in the face of scalability problems, there are generally three options, multiple blockchains, lightning networks, and fragmentation. Independent operation of multiple blockchains results in greater compromise in security due to imbalances in computing power, risks of cross-border transactions, and multiple account issues. Lightning Networks establishes a centralized network outside the chain. The payment method, fragmentation, is a common method used by traditional centralized networks to solve scalability problems. It is a mature method, but the application to the blockchain domain is very complicated. Ethereum fragmentation is expected to take 3 to 5 years to fully support it. Of course, the important reason is that Ethereum is to be changed on the basis of the original chain. Just like changing a classic car into a racing car, it is not only complicated but also difficult to do.
QuarkChain, ready to build a new “car” directly, which introduces a new groundbreaking blockchain architecture design that will not undermine its security and decentralization characteristics based on the substantial expansion of the available range of the blockchain, will be the current TPS Increase thousands of times to tens of thousands of times. QuarkChain’s goal is to build a seamless platform to support distributed social media, high-frequency trading, Internet of Things (IoT), gaming and financial payments.
Specifically, QuarkChain will adopt the divide-and-conquer idea of the two major functions of current blockchain accounting and confirmation transactions. The QuarkChain chain structure design consists of a flexible slice layer and a root chain (main chain). The slice tier contains a series of shards, each shard handling a subset of all transactions independently. As the number of slices increases, the slice layer can handle more transactions at the same time, and the system capacity increases as the number of slices increases. The main chain is used to confirm all blocks from the slice layer, the main chain does not process any transactions (because it is not cost-effective), the main chain has enough computing power to support security.
This is somewhat like redesigning a series circuit into a parallel circuit. In a series circuit, as the number of users increases, the burden on the entire system becomes heavier, the speed and efficiency become lower, and each branch in the parallel circuit exists independently. Does not affect each other, the main chain is the main road, responsible for the confirmation of the various segments, is a master switch.
Of course, in this case, the original 51 attacks that theoretically required more than 50% of the computational power required only 25% to be achieved, but its multi-segmented, more decentralized nodes than the traditional blockchain allowed the malicious miners to obtain 25% of the attacks. The calculation becomes very difficult. We must know that the miners under the single-chain model are very concentrated groups. The bitcoin’s computing power is more than 80% in China’s major mines because of the traditional single-chain mining model. The greater the power is, the greater the probability of digging into a coin, and the small amount of calculation is basically without any chance of winning and gains. This will inevitably lead to the concentration of computational power. QuarkChain has designed an incentive system for collaborative mining and solved this problem very well. , making its nodes more dispersed.
The QuarkChain network has multiple fragments and a root chain. Each blockchain offers different rewards and difficulties. Miners can choose any blockchain to be rewarded at the best possible price. This creates an open market economy model. The blockchain is a seller, the goods are block rewards (tokens), and the miner is a buyer who uses money as a currency. This design makes each side of the market pursue its own interests, but the collective actions of all parties can benefit everyone.
Blockchain 3.0 actually seeks a balance between security, decentralization, and scalability as the “impossible triangle”. QuarkChain achieves a dynamic balance between single-chain and multi-chain through its parallel circuit-based fragment design. When the main chain power is 0, QuarkChain’s shards are a group of scattered multiple links. When the main chain’s power is 100%, QuarkChain is a single chain. More than 50% of the chain strength guarantees safety, while each segment is mined through a unique incentive system design. To a large degree, decentralization further enhances security and guarantees scalability. Says QuarkChain has achieved a good balance in the “impossible triangle.”
In addition, thanks to this unique slicing design, QuarkChain has extremely efficient and secure cross-chip transactions and minimal account management. Users only need one account to manage addresses on all chains and seamlessly interact with all users. In addition, QuarkChain will also create a smart wallet application that will automatically perform cross-slice or intra-segment transactions (including smart contracts) for users, and users do not need to know in which shard the transaction is performed.
This is somewhat similar to the division of labor between family divisions and several families within a family. The traditional independent operation of multiple blockchains is like having many families together. Each blockchain is an entire family. Everyone does not believe in one’s heart and there are conflicts of interests. Cross-chain transactions are not secure. They also have their own, and QuarkChain is like a part of the family, the main chain is only responsible for confirmation, segmentation for transaction processing, everyone’s hearts and minds, family members within the inter-chip transactions also have to be efficient and safe, of course, husband wife of course It is this home.
Project Overview:
QuarkChain is a secure, decentralized, high-throughput and scalable blockchain underlying technology solution that will enable millions of transactions per second (1,000,000+ TPS) on the chain to provide the next-generation public chain Protection. QuarkChain’s technology core includes:
QuarkChain, which can be multi-fragmented, is composed of two layers of blockchain structure. The first layer is the slice layer (which can be understood as the subchain layer) for transaction accounting; the second layer is a root. Chain to confirm the transaction in the slice. Without affecting the root chain, the number of shards in a shard can be dynamically increased to improve overall system throughput.
Market-driven collaborative mining provides security. QuarkChain designed a mechanism based on a game theory framework to motivate miners to work and distribute computing power rationally. At least 50% of the total network computing power will be allocated. Go to the root chain to prevent possible double attacks and malicious mining.
Anti-centralized horizontal node expansion On any blockchain network with high TPS processing capabilities, a supernode that holds the entire netbook will be very expensive, which will lead to centralization. In order to avoid this problem, QuarkChain supports a number of cheap nodes to form a cluster to implement the functions of a supernode and avoid centralization.
Efficient cross-chip transactions The QuarkChain network supports cross-slice transactions at any time, anywhere and quickly completes transaction confirmations. As the number of shards increases, the transaction speed will increase linearly.
Simple Account Management In the QuarkChain system, each user only needs to create one account to use the entire blockchain network. Users’ encrypted assets on different shards will be securely stored in a smart wallet, using the experience as if they are trading on a single chain.
Team:
Apart from these aspects of architecture design, the project team itself is extremely competitive and has a good influence. QuarkChain’s founder’s cycle was one of his students during his school days. After graduating from Beijing University of Posts and Telecommunications, he was sent to Shanghai Jiao Tong University for a master’s degree, and then went on to pursue a doctoral degree at the Georgia Institute of Technology. As a former Facebook and Google engineer, he is also an expert in high-performance and large-scale distributed systems. He has more than 15 years of experience in software development. His works have been favored by Bill Gates and presented in person.
The team is also made up of technicians from top technology companies (Facebook, Google) and professor advisors from higher education institutions. Technicians have extensive experience in centralized large-scale systems. CTO Ding Ting has a very deep background in product management. He has served as Demo++ incubator, founder of INK incubator, and founder of six joint ventures, focusing on blockchain products and commercial applications. CMO has financial, consulting and technical backgrounds with Yachen, six years of working experience in Wall Street and Silicon Valley, and is responsible for blockchain business cooperation and brand planning. Team members have accumulated rich operating experience in blockchain, financial management, and international trade.
QuarkChain also scored impressive results in the evaluation of professional institutions abroad.
Conclusion: The strength of the project itself is very good, and the success of the test version also gives most investors confidence. However, due to the current number of competitors, it may be gradually eliminated in the development. In addition, in the slicing technology, it is suspected that there may be plagiarism of ZIL. (very consistent with the roadmap)
TOKEN Introduction:
The QuarkChain ICO Token (QKC) is compatible with the ERC-20 and is distributed on the Ethereum blockchain. After starting the main network in the fourth quarter of 2018, the ERC-20 token will be converted into a prepaid token in the main network . The future QKC will be produced by miners.
QKC is the only means of trading the value of the system and provides rewards for miners.QuarkChain will support smart contracts on the Ethereum Virtual Machine (EVM) to achieve future compatibility with existing dApps, which will benefit from increased scalability.
At startup, the QKS token will be able to serve as a value store, currency of transaction, and as a reward for contributions. QKS is also minable (remember, QuarkChain is a PoW blockchain)
It can be concluded that the main functions of QuarkChain are:
50% or more hashpower will be dedicated to the root layer to prevent any double-spending attacks.
There is no lower limit on the number of nodes required for fragmentation.
Support GPU mining.
Supports cross-segment transactions.
The more nodes, the higher the scalability.
Project summary
Market Situation: As of now, the number of telegraph groups is 23,400 and the number of Twitter users is 4,771. The telegraph group has no airdrop activity and is highly active. Big V evaluation is relatively high and has a good publicity atmosphere.
At present, the project is still in the propaganda stage and private placement has ended. In the heat of the project, there is currently a high degree of heat, and there is a lot of big V support. The current test speed has reached 2400. As a project that has just started, this is an immense success.
However, there are currently some issues that need to be addressed in this project, such as more competitors and hardware facilities that are difficult to keep up with; there are no business partners, and most of the team members have no previous experiences with the blockchain. Whether these will become stumbling blocks for project development nobody knows.
Here are some important links:
website: https://quarkchain.io/
whitepaper: https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
kyc information: https://steemit.com/quarkchain/@quarkchain/quarkchain-whitelisting-kyc-process
github: https://github.com/QuarkChain
token sale information: https://quarkchain.io/QuarkChain-Token-Sale-Terms[EN-ZH].pdf
telegram: https://t.me/quarkchainio
QuarkChain may become a real blockchain 3.0, achieving 100,000 or even a million TPS through its unique architecture and mechanism, pushing blockchain into large-scale commercialization, taking us into the era of blockchain, let us Looking forward to the same, this technology uses the real chain of real blockchain 3.0.
I like it!