QuarkChain Monthly Project Report: February 2022

Dear Community Members,

Welcome to the 74th QuarkChain Monthly Report (February 2022). 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

Automatic PoSW Effective Difficulty Adjustment.

To better secure the QuarkChain mainnet and enable bridging assets from other chains, we implemented a self-adjusting mechanism to increase the network’s hash power by lowering the effective difficulty for root chain PoSW stakers.

Bridge: Support migrating bridge assets for better upgradability; Integration test between BSC and QuarkChain done.

2) Recent news

2.1 Dr. Zhou, founder and CEO of QuarkChain, released a technical article:

“On the Future of Web3 — Paving the Way to End-to-End Fully-Decentralized Web”

QuarkChain founder and CEO Dr. Zhou publishes a technical article discussing the future of Web3 and why we believe an “end-to-end fully trustless decentralized web” is needed to fully reap the benefits of blockchain.

The recent development of decentralized applications such as DeFi, NFT, and GameFi has greatly aroused society’s attention and discussion on the next-generation Internet, known as Web3. Unlike Web2, which is currently controlled by a few centralized companies such as Facebook and Google, decentralization is a key feature of Web3, and it has two unique advantages:

Avoid centralized control (Censorship-resistant); data is transparent, and all user data is uploaded to the chain. However, due to the convenience of development and use, dApp servers and node service providers are centralized, which makes the advantages of Web3 disappear. Dr. Zhou proposed some new ideas for this problem.

3) Events

3.1 Dr. Zhou shared a video at DApp Learning: Web3 Future End-to-End Fully Decentralized Network

QuarkChain has continued to share in DApp Learning recently. During the sharing, Dr. Zhou introduced his vision for the future Web3 in the form of video and combined with the published Web3 articles, he explained the future development direction of Web3 in more detail.

As more and more users and developers will face the current Web3 problems, we need a solution that facilitates the benefits of blockchain. That’s why we think the future of Web3 should be -

End-to-end fully trustless decentralized network.

Video Details: “On the future of Web3” (English)

Part 1: https://www.youtube.com/watch?v=O4j1W8uh_hE
Part 2: https://www.youtube.com/watch?v=5gbPAwyP8Z0

3.2 QuarkChain participated in ETHDenver and communicated with many Ethereum developers

QuarkChain recently participated in the annual Ethereum developer event ETHDenver. This year ETHDenver consists of two parts, #BUIDL Week and a hackathon, with a total of over 14,000 people participating in the event. During the conference, the QuarkChain team learned more about the most cutting-edge developer developments, sought out and contacted many potential cooperative projects and potential community developers, and communicated with the participants about the development of Web3.

4) FYI

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

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QuarkChain provides a secure, decentralized and scalable blockchain solution to deliver 100,000+ on-chain TPS

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