Since the beginning, our mission has been to strive for new and innovative ways to improve the weaknesses in the present blockchain industry. We believe we possess the creativity and ingenuity to fill the gaps in current blockchain technology, creating innovative solutions that can build a brighter and more valuable future for humanity.
Today, however, we want to share with you an idea we’ve had since before we set out on our Shard journey. This project would help increase adoption and enable further use cases for Shard. It is completely scalable, will allow for easy day to day use, provides a completely user friendly experience for people with limited understanding of cryptocurrency, and holds a robust amount of features that can service the needs of anyone, from beginners to advanced users. Long awaited by many of our community members, we now unveil to you, The Quantum Project!
The Quantum Project
The Quantum Project is a large part of our ultimate vision for Shard. We understood this from the start, when we outlined the pieces involved in assembling this very complex puzzle that could change the world. With the partnered Shardax Exchange and Infinity Wallet underway, we decided that now is the time to enter the pre-planning stage for The Quantum Project. The Quantum Project is a huge undertaking, which is part of the reason why we’ve kept it under wraps until now. With its reveal, we hope to inspire community involvement by collecting any feedback and suggestions you may have, so we can make this a reality.
In essence, The Quantum Project is a completely new rendition of blockchain technology. Current blockchain technology has given us many amazing advancements and opportunities to create things that were nearly unimaginable just 15 years ago. However, there are still some real limitations and challenges that are being faced with the implementations made available today. We want to put our minds and skills towards creating the next evolution of blockchain technology; a completely revolutionary new blockchain, built from scratch! Creating a fully functional blockchain from the ground up is not an easy task.
Our own blockchain, as it currently exists, is itself a fork of Blackcoin. Blackcoin was a fork of Novacoin which was a fork of Peercoin, who had forked from Bitcoin, which makes Shard a 5th generation fork of Bitcoin, now with its own unique improvements and changes. Bitcoin, being the first blockchain cryptocurrency ever implemented, is the seed from which many blockchains grow. We want to develop a completely new blockchain, from the ground up, specifically for Shard.
We’ve already planned some of the wide variety of features and protocols that would mold Shard into the ultimate currency of the future! Many of these features would provide additional use cases and scalability with unlimited possibilities.
- The Integration of Sharding enables increased scalability. Sharding has been in use on traditional databases for over a decade, but has only recently been explored in the realm of blockchain. Sharding splits the blockchain information into smaller portions (shards) of information that can be verified more quickly. This allows the workload to be split among these shards, which are acting as independent mini-ledgers, and drastically increases the speed and quantity of transactions that the blockchain is capable of processing. However, due to the nature of ledger authentication, significant redundancies need to be put into place to keep all of these shards connected and safe from tampering or false ledger verification. Each shard will contain multiple validators that validate transactions relevant to their own shard, but all data within a shard can be shared across the network to other shards, creating a secure, scalable, and decentralized ledger through this inter-data sharing process. Using a variety of protocols and randomization, we would be able to keep the blockchain secure and indefinitely scalable. The more validating nodes connected to the network, the more shards the network can be split across, meaning more transactions can be processed with greater security, creating an immensely scalable and decentralized blockchain network.
- ShardID is another new feature we are looking to integrate. Instead of sending and receiving using a long public address, which is the current standard and very hard for the average person to remember, this would allow a user to claim a username of their choice, for easy sending and wider adoption via simplified use. For example, instead of sending to an address like Si98t1WpEZ73CNmQviecrnyiWrnqRhWNLy, you could easily just input and send to the username Shardoshi, allowing users to send payments smoothly, with little hassle.
- ShardCAS “Cross Atomic Swap” allows for interaction with other chains, opening the door for new types of platforms, such as a true decentralized exchange (DEX) that would grant users the ability to trade multiple different coins in one secure platform. This is an existing issue with many chains due to a restriction that allows only the tokens that are built on the base chain to be traded in the DEX. An example of this is the Ethereum DEXs, which do not have the ability to communicate with other chains, so they only have Ethereum and ERC-20 tokens listed. ShardCAS technology would enable true decentralization, allowing cross chain communication, with no need for a middle man that holds the user’s funds. Funds could be automatically transferred between any chain using smart contracts that interact with each chain. In addition to these true decentralized exchanges, time will only tell what new and exciting applications developers would be able to build using the ShardCAS protocol.
- ShardZF “Zero Fee” provides the ability for zero fee transactions using Shard. This means there is no “gas” needed to be able to send tokens that are created on the Shard blockchain, which is an enormous issue within many smart contract protocols currently. On the Ethereum chain, for example, users need ETH to send an ERC-20 token, but we aim to change this for wider scale use cases in multiple industries.
- Private & Public Smart Contracts allow for a wide variety of use cases within multiple industries, whether it be gaming, finance, transport, or anything in between. Smart contracts function similarly to real life contractual agreements, but with this approach, the conditions set can automatically trigger a sequence of events to occur when those conditions are met. Because of this automated system, they are not restricted to our traditional concept of a “contract.” Instead, they have the ability to run like a self-operating computer program that can automatically execute an endless range of functions. And because smart contracts are encrypted on a blockchain ledger, they are tamper proof, instantly verifiable, backed up, and secure. Smart contracts have near infinite applications, enabling developers to create whatever they dream up on our fully scalable blockchain.
- Lower latency and lower block times would provide near instant transactions that could be confirmed within seconds, encouraging wide scale use as a day to day currency.
- HD wallet is an ability integrated into the wallet, allowing for the creation of multiple addresses to be generated from a single seed. With the HD wallet feature, your wallet would only ever need to be backed up once, instead of on a continual basis.
We have additional features/protocols planned that have not been revealed here and won’t be until we start development.
Our development team has been looking into these features since before Shard’s inception, as we intended to solve some of the industry’s core problems. We believe that the most detrimental limitations to current blockchain technologies are ease of use, scalability, and the lack of intercommunication between different chains. Shard earned its name because of our future scalability plans, specifically our intention to integrate Sharding. After 10 years of cryptocurrency, it’s more apparent than ever that it is now time for the creation of such a blockchain. We believe we have the passion and skillset needed to bring it into existence.
If we can build this quantum blockchain, not only would it be a massive game changer for Shard, but it would also revolutionize the entire landscape of the cryptocurrency industry as we know it! However, creating a project of this monumental scale will require significant funding.
What will it take to build The Quantum Project?
As many already know, Shard is an open source blockchain with a small team and very limited funding. The only development funding the team has is the Shard development fund. Though, it cannot be used currently, due to the low liquidity and price of Shard at this time. We do have faith, however, that these circumstances will change after the release of Shardax and the Infinity Wallet.
When people start using our partnered platforms, we hope they’ll see the greatness we are capable of, which may lead to the added knowledge of The Quantum Project, driving more interest to Shard in conjunction with the partnered platforms themselves. But even with our optimistic future, we do not have the necessary funds to complete this project without some sort of outside help. This is why we are asking for the involvement of our community, to help us brainstorm ideas on how we can raise the funding needed to move forward with this project. We have chosen to do the pre-planning now, shortly before the next phase of Shardax and the Infinity Wallet, in hopes that we will be able to secure funding soon after these platforms launch, so we can begin working on this innovative new blockchain sometime in 2020.
Our Estimated Needs
For the last year and a half, the core team that’s been working on Shard has not made a cent, despite working full time and investing our own personal funds into this project. We’ve been happy to do this, as we strongly believe in what we are creating and our vision of what Shard can become. But, in order to create this state-of-the-art blockchain, we need a level of resources that we simply do not have.
Many people we talk to think Shard must have held a large ICO, given the size of what we are doing and looking to do in the future when compared to many projects. These people are often shocked when they find out that everything we’ve achieved was accomplished with no large funding of any kind. Given the numerous other coins that had large ICOs and outside funding, many of which have not delivered or quit their projects entirely, we find ourselves proud of what we have accomplished thus far. We now find ourselves facing a mountain with the Quantum Project that we simply cannot climb alone. In order to proceed we would need some form of outside funding.
We estimate a cost of around $500,000 in order to complete this project. We’d need to hire 4 to 5 full time blockchain developers and would expect a development period of 12–18 months, depending on the amount of complications we face during the process.
Why This Is Important and How You Can Help
The completion of this project would radically change the industry, enabling us to have a true day to day currency that transacts at high speeds with the added ability to create decentralized applications (Dapps). It would also allow for true decentralized exchanges (which we plan on making if this is built), tokenized shares, and much more! Creating a feature-rich blockchain that can be used for anything and everything will bring real value to the world, providing Shard an additional use case, while simultaneously solving many blockchain issues and limitations that our industry faces today.
There are many other issues we will be looking to solve over time. Keeping this in mind will allow us to easily integrate them into the Shard blockchain in the future. Our main focus, in the beginning, will be the creation of a fully scalable blockchain with instant transactions at nearly nonexistent cost, ease of use via innovative ideas that allow for atomic swaps, and a truly decentralized application that is able to communicate across blockchains. Achieving this will spur the industry on to further advancement regarding exchanges and many other platforms, encouraging further decentralization while strengthening our ability to communicate and collaborate, offering us limitless potential capabilities.
Given the open source nature of Shard, we would like to hear from the community. We want to know your opinions regarding this and any suggestions you may have on how we can generate the required funding needed to complete this utterly advanced blockchain project.
Exchange Listing Efforts
We have been putting forth continued efforts to reach out to a wide variety of exchanges in pursuit of listing Shard on their platforms. Most of these exchanges are only interested in listing us for a large fee, instead of focusing on our project’s achievements and future objectives. We can’t name the exchange, but one of these exchanges tried to charge us as much as $500,000 to get Shard listed on their platform. Other exchanges have offered to list us for free, but they would require us to provide a guaranteed level of volume. This would essentially mean wash trading to create fake volume. Even though this would bring additional volume and value to Shard, it goes against our morals as a team to be involved in something like wash trading, or even list on such a platform that would incentivize us to do so. As it stands, this is already a huge problem that this industry faces. Due to their enormous ICOs, many coins that are listing on these exchanges are paying hundreds of thousands to artificially pump their volume. Much of the exchange market is built upon fake volume and similar manipulation tactics in the hopes of increasing investor interest and profit off their coins.
Our current focus is to build long term partnerships and work directly with specific exchanges that have similar goals and beliefs as us regarding this industry.
Web Page for Easy Shard Purchase
We have also started developing a little side project that will make it much easier to purchase Shard for those who would like to do so, without using CryptoBridge. It will allow users to easily choose between 5 main currencies that can be used to exchange for Shard. The currencies planned for exchange are BNB, BTC, ETH, LTC, and XRP. Users will be able to easily select the pair they want to trade, enter the desired amount of Shard to receive, and supply their Shard wallet address. You will then be given an address in your currency of choice to send the equivalent amount of the currency that is required. After sending the payment, you will receive your Shard within 10–60 minutes, depending on the currency you selected. This feature will allow people to purchase Shard outside of CryptoBridge, before the launch of Shardax, and enable people the ability to obtain Shard outside of an exchange, even after Shardax has been launched. It is just the first part of something bigger that we will be looking to implement on a much larger scale in the future.
Call to Arms
Again, we would love to hear from our community! If you have any opinions, ideas, suggestions, or feedback you would like to share, please leave a comment in the #quantum-suggestions channel on the Shard Discord. We are also looking for additional team members whose focus is on blockchain advancement, specifically marketers and developers. If you are neither of those, but feel you have something you can contribute to our project, reach out and discuss it with us. If interested, please contact us through Discord, email, or one of our other social media platforms.
As the core development team of an open source cryptocurrency, we have a lot that we hope to achieve. We plan for Shard to become one of the top digital assets in technology, delivering platforms that are not only unique, but bring unprecedented value to the blockchain industry.
We’re very pleased with what we’ve accomplished so far, as we’ve done it without an ICO or any other source of large scale funding. We are now in an age where we have the technology to accomplish nearly anything we can imagine. We have a countless number of ideas with endless possibilities; all we need now are the resources to bring this project to fruition.
Make sure to keep an eye out in the coming weeks for a Shardax Article regarding the latest on both the Shardax Exchange and the Infinity Wallet.
Article by: WishIStartedSooner
Download the Wallet v2.0: https://shardcoin.io/wallet.php
Official Website: https://shardcoin.io/
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Shard Discord: https://discord.gg/SFqSd3U
Telegram Announcements: https://t.me/shardcoin
Medium (Where you are now): https://medium.com/@ShardCoinOfficial
Official Website: https://shardax.com/
Telegram Announcements: https://t.me/shardax