QuarkChain Weekly AMA Summary-08/10/2019
QuarkChain has been holding its bi-weekly AMA (Ask Me Anything) on Telegram/Wechat groups on Saturday, from 7–8 PM PST. This is the summary for AMA from last week. We are always happy to take questions/comments/suggestions.
Part 1: Marketing Questions
Q1: Why the name “QuarkChain”? Something related to quantum physics? Or is it that the team is in love with physics?
A1: Quark is the fundamental particles in physics, and with QuarkChain we aim to build a new blockchain universe here.
Q2: Let’s say QuarkChain outcompetes other similar projects and become the leader in the field. How Quarkchain will benefit an average Joe and the community in general? And what steps were taken？
A2: So with scalability, I think billions of people can now use QuarkChain in a decentralized way, which Fb’s libra is pursuing. In addition, we proposed the PoSW consensus and now the holder could stake and gain mining rewards together with stakers. We will build all the necessary tools to help simplify the rental/staker markets.
Q3. What are the strengths and weakness of QuarkChain team?
A3: I am very proud of QuarkChain team. The team is very efficient and work fast, and every member is very devoted to the team. I am very happy to work in the team
For weakness, I think we are experiencing the issues that common startup experience, but we will become more and more mature.
Q4: How can the community help you?
A4: The community is a great asset of the team. I really appreciate everybody supporting QuarkChain. Depending on different levels of understanding, the community could help us broadcasting our technology, which I believe we have the most advanced one. In addition, if you have QKC or hashpower, free to join our network and mining/minting. That will benefit both miners and stakers.
If you have experience in programming, please also contribute to the repo or DApp on top us. We offer generous bug bounty for developers communities.
At least, we welcome any constructive suggestions from the community. QuarkChain is still a baby and needs a lot of help from everybody. But I sincerely believe it will become a giant at one time with your help. Thank you!
Q5: CZ said last week that gaming will be the first big market which will use Blockchain very soon. Some projects do workshops with game devs. Does QuarkChain plan that as well?
A5: Of course. We already set up an internal team to work on that. Very excited to see how the market grows!
Part 2: Technical Questions
Q1: What is the one thing that about QuarkChain will push it for adoption?
A1: Actually we have a lot of things — for example, scalability allows us being adopted for billions of users. We also developed qPocket to simplify user usage on us (which receives pretty receptions). So hard to name one, but we are working hard on every aspect to push for adoption.
Q2: How did $QKC you guys survive in this long bear market and what difficulties have you encountered during this period?
A2: The biggest challenges are facing is the uncertainty of market and education. We see the market changes a lot but still growing. Surviving in this market needs extra planning. In addition, a lot of people do not know blockchain and our technologies, and help broadcast our technologies among a lot of over-advertised projects is another challenge. One more difficulty is to have the team members to accept the market and look forward to the future instead of short-term changes. I am very happy that even with the bear market, our team still grows significantly from 20 people to 30 people in this half-year. To my best knowledge, a lot of projects shrink a lot and we are still growing!
Q3: why the difficulty of chains became super higher than before, how can people who are not miners join in mining?
A3: The difficulty increases dramatically because of the PoSW project. The holder to QKC could now stake their QKC and work with miner to gain more mining rewards. As you could see in both mining group and community groups, a lot of miners are looking for collaborating mining in telegram/WeChat, etc.
With stake, the miner could significantly reduce the difficulty of network. As a result, the total difficulty will increase. So if you have a lot of stake, please join the groups and ask if any miners would like to work with you!
Q4: Can government organizations use quark chain for smart cities? Can that DApps develop using QuarkChain blockchain?
A4: Of course! In addition, we believe both the government and large companies can benefit from QuarkChain technologies. Besides scalability, we could bring much more features such as adding new shards and stronger security. We will also publish our latest technical white paper soon about our consensus!
Q5. How does QKC solve the transaction conflict problem of packed transactions from different blocks? We understand that when a transaction conflict occurs the later transactions need to be discarded. So what is your design to distinguish the transactions that are meant to be discarded?
A5. I cannot understand the precise meaning of “transaction conflict”. In QuarkChain case, all transactions are partitioned to different chains and the transactions in different chains are non-overlapped, i.e., they will never conflict if two transactions belong to different chains. If there is a tx conflict in one chain, that is the same as the tx conflict in ETH, and we could solve the issues easily with existing methods.
Q6: Quarkchain had a great last year and we had the qPocket launch and also the mainnet launch. But what’s the plan for the future to onboard even more developers especially for Dapps and to onboard companies and governments who leverage the advantages of your technology? Is this the next step or are there steps in between? Because right now it seems like you have a clear vision of how you proceed.
A6: We will support smart contract soon which means all DApps can now run on us. Because we will support smart contract infra such as infura.io etc so that the developer could simply use the infra instead of running their nodes.
Q7: Some people from the mining group said” I’m from mining group. Anyone willing to rent out their QKC and earn back QKC from POSW?” What happened in the mining group? any event? how to earn back QKC from POSW?
A7: The core idea of PoSW is to combine the benefits of PoS and PoW, and now the holders of QKC could stake in the network and get difficulty reduction significantly. With mainnet token swap supported, existing holders could now swap the tokens to mainnet and enjoy the benefits. However, to get the rewards, a staker must also work with a miner, and so please visit our mining group if you are interested in and stake!
Q8: Is QuarkChain going to design mining process as easy as staking with Guardian plan just by using qPocket? Many people don’t mine due to the trouble of current mining process. So those wanting to rent out QKC is easy.
A8: Yes, with smart contract support, we will support a rental project to miners and greatly simplify mining/staker rental market. We will see a lot of progress soon!
Q9: Everyone is running behind new blockchain, so don’t you think that having too many blockchains going to hamper the crypto industry? interoperability and synergies between blockchain are the demand of time?
A9: I think it is good to have many projects and see how market and community decide, and for us, if there is new tech emerging, we could always add a new shard and adopt it. So I think it will be good news to QuarkChain and all QuarkChain community members.
Q10. Could please give more details about the new Buyback program and why it’s needed?
A10: The buyback program aims to demonstrate the confidence of the team member to the project publicly. We will disclose the addresses soon.
Q11: In the future, which features is QuarkChain going to build and develop (not the one in roadmap already)?
A11: Probably adding a new shard with a completely different ledger and transactional mode with existing ones.
Q12. When guardians will be removed so other people can join mining on root chain?
A12: We plan to accelerate it and finalize the PoSW parameters, but imagine since there is a significant reward on root chain, we need to stake significantly on root chain! So get prepared!