QuarkChain ICO
QuarkChain is a blockchain that utilizes sharding to provide a high-capacity peer-to-peer transactional system. It will consist of two main layers — the sharding layer, which allows for high throughput by effectively distributing data, and the Root layer, which serves to confirm the blocks of the first.
Using this design, QuarkChain aims to satisfy the tradeoff between the three pillars of a blockchain — decentralization, security, and scalability.
There will be Nodes and Clusters for mining on the QuarkChain platform. Clusters are multiple nodes forming a cluster running as a super-full node. This way, supernodes can be formed without them being run by supercomputers. This will provide smaller players a competitive edge in mining.
Below are some of the features of QuarkChain:
- 50% or more of the hashpower will be dedicated to the root layer to prevent any double spending attacks.
- No lower limit as to the number of nodes required for a shard.
- Supports GPU mining.
- Support cross shard transactions.
- The more nodes there are, the higher the scalability.
To further increase adoption and ease of use, QuarkChain will provide support for and integrate the Ethereum Virtual Machine for smart contracts, as it is the most commonly use execution engine. This will allow dApps built on the EVM to have the ability to be deployed directly on the QuarkChain Platform.
Well basically QuarkChain wants to build a blockchain focused on scalability and security. They will use two protocalls or layers that faciliate transactions. In all honesty it’s a bit complicated and I would suggest heading to their website if you really want to read about it in depth.
They talk about a root layer and a sharding layer and it’s a bit complicating and technical. In order to understand what QuarkChain really wants to do you actually have to understand the physics behind this project.
For example. Quarks in physics are actually composite particles or protons and neutrons. They are the foundational building blocks of all matter. In this context it simply means it does not have a substructure and cannot be split.
On the scalability side we have the sharding layer within QuarkChain. So all minor blockchains or shards process a subset of all transactions on the QuarkChain blockchain independently. As the number of shards increases so to does the number of transactions. Which can be processed concurrently.
On the security side we have the root layer which confirms all the blocks in the shards by including the block headers in the root blocks.
In other words the root layer confirms all blocks from the sharded chains but does not process transactions itself.
ICO Proposition
Ticker: QKC
Token Type: ERC20
Token Price: 1 QKC / $0.0253
ICO Hard Cap: $20m
Total Tokens: 10bn
Tokens for sale: 2bn
Strengths:
- Payment processing is one of the safest ROI in the ICO space;
- The self-perpetuating growth of the shard layer is a clever design;
- The ‘honest’ node clusters that move away from the draining Super Node approach is a smart, efficient design.
The key features of of QuarkChain include:
- Reshardable two-layered blockchain.
- Guaranteed security by market-driven collaborative mining.
- Anti-centralized horizontal scalability.
- Efficient cross-shard transactions.
- Simple account management with a smart wallet.
Important innovations of QuarkChain include:
- The first blockchain technology supporting state sharding.
- The first blockchain sharding technology supporting turing-complete smart contracts.
- The first blockchain network supporting clustering as peers
QuarkChain is ahead of schedule with their testnet up and running with 2,000 TPS was observed during a recent audit. Achieving 10,000 TPS is the next milestone on their roadmap. QuarkChain has made their Github publicly available. Resumes are being accepted at testnet@quarkchain.io for 100 volunteers to help test the latest testnet. The mainnet is scheduled for release Q4 2018.
Token
QuarkChain tokens (QKC) are ERC-20 tokens that will be used for conducting transactions on the platform. The ERC-20 tokens will be converted to QuarkChain’s mainnet token after the mainnet is launched. Future QKCs will then be produced by miners. $20 million USD is the hard cap with $16 million sold during their private sale, leaving $4 million USD available for their public sale scheduled for the end of May or beginning of June. A total of 2 billion QKC are available for purchase during the tokens sale with a total supply of 10 billion QKC. The public sale price will see 31,533 QKC valued at 1 ETH. Private sale tokens have a lockup period and public sale tokens have no lockup.
The token distribution is as follows:
- 20% Token Sale (Private Sale Lockup, Public Sale No Lockup)
- 45% Mining, Community, and Marketing
- 15% Foundation — Lockup to 2 Years
- 15% Team — Lockup to 2 Years
- 5% Advisers — Lockup to 2 Years
For more information regarding QuarkChain:
Website: quarkchain.io
Telegram: t.me/quarkchain (79,000+)
Twitter: twitter.com/Quark_Chain
Facebook: facebook.com/quarkchain.quark.5
Medium: medium.com/@quark_30920
GitHub: github.com/QuarkChain
