QuarkChain Weekly AMA Summary-07/07/2018
As many of you already know, there is a weekly AMA (ask me anything) on Telegram/Wechat group every Saturday, from 7–8 PM PST. This is the summary for AMA of last week. We are always happy to take feedback and answer your questions. See you all this Saturday!
Part 1: Marketing Questions
1. Q: Yesterday, QKC showed an outstanding performance in the Beijing meetup. Do you think your team will replace ETH?
A: Thank you for the great faith in us. We respect all competitors and learn from all of them. We treat all competitors as friends and potential partners since blockchain is still new and has a long journey to go.
2. Q: Do you have any plans on Korean market? Do you have a plan to list on Korean major exchanges like Bithumb and Upbit? Zilliqa has listed there already. Many Korean want to trade QKC in local exchanges by KRW.
A: For your first question, the Korean market is definitely one of our focuses. In fact, we just had Mr. Jonanthan Kim as our QuarkChain in Korea, and he will help us to do marketing and BD there. Jonathan is an 18-year veteran of BD/Strategy/Marketing from Naver, SK, Cheil Pengtai/Samsung, Hanwha group, and a formal CMO for Hanwha’s Fintech biz. Mr. Kim said that the reason why he joined QuarkChain was based on trust. For activity in the Korean region, Jonathan will establish a more comprehensive plan for continued interest generation and partnership development to develop a healthy (no scam) ecosystem.
For your second question, being listed on Korean exchanges is definitely on our list. There will be some surprises. Just stay tuned, and we will keep you updated.
3. Q: Congratulations on the successful launch of testnet. What are QuarkChain plans/activities from now till mainnet and what is the target for the mainnet?
A: Thanks for your good word and faith in us. In the following period, one of the most important things is to build the ecosystem, have more dAapps in our chain, have more developers in our community, etc. Besides, we will make our testnet stable and add more additional features that are not on white paper. Publishing our code is also an important next step.
The mainnet release is scheduled for Dec 2018 or Jan 2019 and our goals are still scalability, decentralized, and security. You can mine after the launch of mainnet.
4. Q: If it is not confidential, what’s your short-term (let’s say till year-end) marketcap position goal?
A: Marketcap is hard to predict, but our goal is to enable blockchain for anyone, anywhere, and anytime. In fact, we care more about long-term values more than the short-term one. We care about the community but cannot control the price. The best we can do is getting more exposure and delivering a better product.
5. Q: Current circulating supply is only 357M compared to 10B total supply. Why did this photo say QKC 20% for sale? If it is true, total supply should be 357M x 5 = 1.7B. Can you guys explain this to me?
A: We are communicating with coin market cap, which is manual and it takes some time. After 4 July 2018, we have circulating supply of 770,500,500 QKC (about 7.71% of total supply) in the market as the first batch of the private sale in which tokens of investors and advisors are vested. We have a strict vesting plan, and first vesting is finished. The total supply should be 7.71% and 12.85% (7.71% / 0.60) without mining (40% mining will be released over the years).
Part 2: Technical Questions
1. Q: What is the difference between QuarkChain and Zilliqa?
A: QuarkChain and Zilliqa are both using so-called “sharding” technology, but there are still many differences:
(1): sharding is a mature technology in the centralized world, and there are many techniques. Google has Google’s and Facebook has Facebook’s. Even different products within the same company may have different solutions.
(2): Our tech is inspired by the tech in Google and Facebook. We support state sharding in a cluster, while Zilliqa enables network sharding/transaction sharding. Both techniques make contribution to blockchain scalability. However, Zilliqa requires every node to store the whole ledger, while our state sharding could distribute the storage over multiple smaller nodes.
(3): For the smart contract, QuarkChain fully supports EVM, which is Turing-complete. Zilliqa supports other languages and tries to introduce other features, but it is not Turing-complete.
2. Q: Can you explain to me if the more nodes, the better? Is that possible for QuarkChain to reach high TPS with fewer nodes (to prevent slower network)?
A: It depends on how these nodes are organized. If all nodes would like to reach the same chain consensus, then the more nodes in the network, the slower the network is. Generally speaking, the more nodes in the network, the more decentralized the network is. Thus, we could achieve the high TPS with fewer nodes, but this will sacrifice decentralization, which is what we want to encourage. This shows the trade-off.
3. Q: Why QuarkChain use Python instead of C++? Any advantages or disadvantages of using Python?
A: Python is fast for prototyping. we will have an implementation in more performant languages like Go and C++.
- We now open our official Reddit account! Welcome to subscribe us, post there and ask us questions athttps://www.reddit.com/r/quarkchainio/
(NOTICE: our website URL ends in r/quarkchainio, NOT r/quarkchain)
- We also have a new Medium account https://medium.com/@quarkchainio! Welcome to continue following us and posting comments!
Thank you for reading the AMA summary of last week! The QuarkChain community appreciates your support!