QuarkChain — OneLedger AMA Recap
Hello Anthurine. Welcome to the OneLedger Community. Happy to have you here.
OneLedger: Welcome Everyone. Today’s AMA will consist of a closed question and answer period, where Aly Kassam, OneLedger’s. Director of Product, will ask our guest questions, followed by an open discussion for our community to ask questions
We are joined today by Anthurine, the CMO of QuarkChain. Anthurine will take us through DeFi technology from a QuarkChain lens, and talk to us more about how their recent project will help in the emerging DeFi trend.
Anthurine, could you briefly introduce yourself?
Anthurine: My name is Anthurine, I am the CMO of QuarkChain. Before this, I have 2 year experience in finance and 6 year experience in Tech company. Also graduated from Johns Hopkins University.
OneLedger: Could you tell us a bit about QuarkChain and how it differentiates itself in the market as a Blockchain?
Anthurine: Sure. QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology.
QuarkChain is the first public chain to have implemented state sharding. Thanks to its great design of sharding function, QuarkChian has realized a high TPS. At the same time, it makes customization available for four factors: consensus, token economy, virtual machines, and ledger model. QuarkChain has become a flexible, scalable and user-friendly blockchain underlying architecture with high security, decentralization, and high efficiency.
OneLedger: You mentioned sharding. Sharding is very popular, and it’s the main technology for ETH2.0. A lot of other projects use sharding too so could you explain what is sharding technology, and what’s the differences between QuarkChain’s sharding technology and others?
Anthurine: Yeah, I think most people is farmilar with this word because of ETH2.0.
OneLedger: Definitely ETH 2.0 has popularized the term. So QuarkChain is using a similar methodology to ETH 2.0 then?
Anthurine: Single chain is like a single lane:
Sharding is like a multi-lane highway. ETH 2.0, NEAR, Elrond, HARMONY, Zilliqa are all using sharding technology. QuarkChain is beyond that. QuarkChain is a next-generation heterogeneous sharding platform. Heterogenous sharding is a more advanced sharding technology.
For sharding, all the lane has to be exactly the same. But for heterogenous sharding, it is still multi-lane high way, but each lane can be customized.
Polkadot is also working on Heterogenous sharding: https://www.youtube.com/watch?v=nTZznY9ziz8&t=34s. You can learn from this 2 min video.
Compared with a single lane, multi-lane will be faster and more scalable. Allowing each lane to be customized makes us much more flexible in different scenarios in public or consortium or even hybrid public-consortium cases.
What’s more, heterogenous sharding can be a good way for cross-chain solution:
OneLedger: As far as the speed is concerned, any comments on whether your sharding methods will get better speeds than ETH 2.0 or Polkadot?
Anthurine: To be honest, I do not think speed will be a concern. It is a concern for single blockchain while ETH moves to sharding, it will be fairly easy to get 1000 tps, which will be enough for the current market. Like I mentioned before, sharding is born to solve the scalability issue. Heterogenous sharding will also solve the flexibility issue except for scalability.
That’s why ETH2.0 mentioned they would explore for heterogenous sharding in the later stage. So it is the right direction, while Polkadot and ETH2.0 is still exploring heterogeneous sharding, we have achieved it on mainnet one year ago.
OneLedger: Sounds Awesome!!! Let’s change directions. QuarkChain has four major focuses in Q4 tell us a bit more about them?
Anthurine: Sure. They are:
- Defi = sharding + native token
- New mainnet (upgrading from old mainnet) : BigBang
- Enterprise solution : complete solution of public chain + consortium chain
- Staking 2.0
OneLedger: You mentioned DeFi is one of the biggest focuses for QuarkChain right now. We know that DeFi is the hottest topic in the blockchain field. In your mind, what is the biggest challenge DeFi is facing today? How does QuarkChain try to solve the problem?
Anthurine: There are problems with the DeFi network built by Ethereum, such as:
- The single system performance brought by the foreseeable homogeneous sharding in the future
- High gas fee: Network congestion and skyrocketing gas fees
- Low security
- Low scalability
Problems inherited from ERC20 tokens are affecting the DeFi products on Ethereum. In our opinion, a mature DeFi platform must have the following features:
- Higher Efficiency: Have faster concurrent processing capabilities, i.e., high TPS.
- Lower Gas Fee: Lower gas fee can stimulate the enthusiasm of DeFi users and even catalyze the development of high-frequency trading.
- More Secure: There are fewer interactive processes in the contract, at least structurally to avoid the problems ERC20 caused due to the different permissions, which leads to complicated interactions and lengthens the operation chain and increases loopholes.
- Easier to Use: Various multi-native tokens can be used to pay gas fees during transactions, and thus no need to use designated tokens to pay gas fees.
- Easier Combination: It can support the combination of a wide range of contracts, including the combination of different consensus in the same chain, ledger structure and other elements, and even cross chains, making DeFi a real “Lego”.
Our solution: multi-chain heterogeneous + DeFi + multi-native tokens.
OneLedger: We noticed that QuarkChain has strongly promoted the first decentralized exchange in your ecosystem named Equalizer. Could you introduce what is Equalizer, and what is its relationship with QuarkChain?
Anthurine: Equalizer — An AMM DEX with equal and self-adjusting governance token distribution.
It is pretty much like Uniswap as a user. But the distribution of governance token as an incentive is quite unique.
1. Buyback and burn with 50% of trading fee
2. Trading pairs can be added freely, and the governance token will be distributed intelligently by the activities, without subjective distributions by any person.
3. Governance token distribution is self-adjusted by trading volume of each pair in every 6 hrs
Equalizer was led by the co-founder of the QPocket team, which is an important ecosystem partner for QuarkChain.
If you’re interested in Equalizer, you can visit the website: https://equalizer.fi/
OneLedger: The last question, will you and OneLedger have further cooperation?
Anthurine: Yes, of course. We view OneLedger as our valuable partner, and we want to work together to use blockchain technology to support more blockchain solutions and needs. And as you can see, there will be more interaction on the marketing side as well.
Developer Community: https://community.quarkchain.io/