QuarkChain Monthly Project Progress Report: June, 2021

Published in

QuarkChain Official

3 min readJul 4, 2021

Dear Community Members,

Welcome to the 66th QuarkChain Monthly Report (June, 2021). We will post monthly reports including development progress, monthly news, and events at the end of each month. In the future, QuarkChain strives to do better. Let’s review what happened in the past month!

1) Development Progress

1.1 Updates

Test the final integration of the EIP-155 update
Register chain IDs (EIP-155) for different shards to have better wallet integration
Support simplified transaction generation and signing flow for better cross-wallet usability

2) Recent news

2.1 QKC is now listed on Binance Smart Chain bridge!

You can now easily swap between ERC20 QKC and BEP20 QKC!

Per transaction limit: 600K
Daily limit is equivalent value of 2 BTC

Visit https://binance.org/en/bridge to get started.

2.2 Autofarm added BUSD-QKC on @PancakeSwap vaults

Autofarm added BUSD-QKC on @PancakeSwap vaults. AutoFarm is a yield farming aggregator running on Binance Smart Chain (BSC), Polygon Chain (MATIC) and Huobi ECO chain (HECO). The DApp (Decentralised Application) was designed with the purpose of optimizing DeFi (Decentralised Finance) users' yields as they interact with the other DApps in the DeFi space.

2.3 QKC listed as a TOP 15 project by @LunarCRUSH Galaxy Score

Galaxy score is a unique evaluation system that will continuously measure various blockchain projects based on the community indicators it obtains from the Internet. QuarkChain has recently been selected as one of the TOP 15 projects.

3) Events

3.1 QuarkChain Gave a Keynote Speech at the Blockchain Trend Online Conference

The QuarkChain Korean team gave a keynote speech at the ‘2021 2H Blockchain Trend Online Conference’ on June 15th.

This conference was hosted by CoinRocket, one of Korea’s major blockchain communities, and was held for 2 hours on Pink Boo TV’s YouTube channel, a Korean influencer channel.

3.2 Convenience vs Security: ERC20 Infinite Approval

With the popularity of DeFi, blockchain users now have to authorize DeFi projects more than once. Whenever a user wants to use a new DApp, you need to authorize the DApp to spend your tokens. In addition to the complex process, every approval has to pay a lot of fees. In order to save money and time, many users choose infinite approval when needed. As a result, they do not know the day when they suddenly find that their token has been transferred away. The reason is not because the private key was stolen, but because they granted infinite approval to the DeFi contract. Why is there infinite approval? Is there a solution? Find out more details here.

Thanks for reading this report. QuarkChain always appreciates your support and company.