The Wind of Blockchain Is Blowing: QuarkChain Is Poised To Contribute To Self-dependent Innovation and Develop Core Technology

QuarkChain
Nov 6 · 5 min read

Last week, some news broke out about the Chinese Political Bureau of the CPC Central Committee took a group-based course about the situation and trends of blockchain technology development. The news ignited the whole blockchain industry. Chinese General Secretary Xi Jinping’s speech gave a huge boost to practitioners in the blockchain field. With frequent media coverage, central bank’s digital currency DCEP poised for development,state-owned enterprises setting up blockchain subsidiaries, and the collective rise in value for blockchain and digital currencies in the stock market, all these signs point to the trend that the blockchain industry in China is ushering in a major phase of development. We believe that QuarkChain, with its own technical strength, has the ability to play an important role in shaping the development of blockchain technology in China.

In presiding over the study session, General Secretary Xi Jinping stressed that blockchain should be regarded as an important breakthrough in self-dependent core technology. Together the society should define clear focuses and increase investment efforts. With these inputs, the society will be able to conquer a number of key technologies and accelerate development in blockchain technology and innovation in the industry.

“We should promote collaborative efforts, accelerate the breakthrough of core technology, and provide safe and controllable technical support for the development of blockchain applications. We should strengthen the research on blockchain standardization and increase our power in dialoguing with the international community and in the rule-making process.”

Small blockchain innovators like QuarkChain, which is rid of the hype and is solely focusing on technology, encounters a golden opportunity in contributing to the development of blockchain technology. Our team is composed mainly of Chinese experts and owns proprietary technology. Since inception, we keep a lean structure and are frugal in spending, especially on the fronts of large-scale marketing. We have devoted almost all of the resources to create our own unique blockchain sharding (multi-chain) cross-shards (cross-chain) technology and has been preparing for a real blockchain technology revolution.

Based on high-performance functionalities, exhibited by 14000 TPS from self-testing and 55000 TPS from community members during TPS Competition, QuarkChain has achieved the following features by deploying the Boson Consensus:

1. High Flexibility: QuarkChain uses a system structure of root chain and shards. Root chains and shards can use their own single-chain consensus mechanism (PoW, PoS, dPoS, BFT and so on) and can be added continuously according to business needs.

2. High Interoperability: QuarkChain natively supports the efficient cross-sharding transactions. Ordinary users do not need to understand the difference between cross-shard and in-shard transactions. In addition, different shards can have different functions.

3. Security: We have proven mathematically that all cross-shard and in-shard transactions can enjoy the global security of the network.

Among the three features, high flexibility also signifies that, in addition to the public chain field, the Boson Consensus can be widely used in areas such as alliance chain, private chain and so on. High interoperability means that enterprises in various fields can realize network effect and achieve the interoperability of functional data by creating modular functional shards. Overall, security is the foundation of all activities.

QuarkChain pioneers in realizing the Boson consensus. With the team tirelessly working on improving the technology, the QuarkChain technology has already reached production level with the following updates:

  1. QuarkChain mainnet was launched on April 30th, 2019. After two major upgrades, it has been running steadily for nearly 6 months.
  2. The network counts the number of to be more than 50 and more than 70% of the nodes are run by the community.
  3. The mainnet seamlessly supports cross-shard transactions, including calls cross-shard contract. Try using web-wallet mainnet.quarkchain.io or mobile wallet QPocket to experience at any time).
  4. To accommodate more users with better functionalities, we develop the Go version of QuarkChain. We are almost done with the development and will open-source our code. Previously, we only provide Python version. Noticeably, in the beginning stage of most blockchain projects, only one language is offered. For example, Bitcoin uses C++, Cosmos uses Go, and Polkadot uses Rust. Other than QuarkChain, only Ethereum uses multiple languages from the beginning. Using multiple development languages can better improve the scope of application, and also help absorb more community developers. In this way, the project will be able to leverage the participation of blockchain community and upgrade more quickly.

Even more valuable is that all these results were achieved in just over a year, which was faster than those projects from the “giants”. QuarkChain’s researching, engineering capabilities, and team’s steadfastness in tackling challenges are self-evident, yet this would be only the beginning of the QuarkChain universe.

While achieving a breakthrough in performance itself, as the bottom layer, QuarkChain will help all industries to achieve breakthroughs in applications. Next, QuarkChain will add different functional shards to support more business scenarios, as well as to support other technologies including consensus for application optimization (e.g. dPoS, BFT), Ewasm virtual machines, privacy technologies.

Through the high performance and high interoperability of QuarkChain, all participants can join as a module and can also interact with other modules to produce better performance, resulting in improved system performance. The overall benefit of the system is analogous to all nearby residents in a new community that can benefit from when a supermarket, kindergarten, vehicle service, food court are added.

Previously, when the central bank’s digital currency was announced, QuarkChain has already evaluated the standards for the central bank’s digital currency, among which high scalability, high concurrency performance (high TPS), support for smart contracts, anonymity, easy central bank supervision are those that QuarkChain can readily attain. Today, China is focusing on blockchain technology at the national level, placing it on the same footing as other cutting-edge information technologies such as artificial intelligence, big data, and the Internet of Things (IoT). Blockchain will be deeply integrated with these areas to drive integrated innovation and applications. Thanks to its high-performance, high-interoperability technology features, QuarkChain can better undertake the above integration needs and to accelerate the landing of blockchain industry innovation.

All in all, QuarkChain has the ability and willingness to contribute to the blockchain industry in China to drive self-dependent innovation and to develop core technology.

Website:https://www.quarkchain.io
Telegram:https://t.me/quarkchainio
Twitter:https://twitter.com/Quark_Chain
Medium:https://medium.com/quarkchain-official
Reddit:https://www.reddit.com/r/quarkchainio/
Facebook:https://www.facebook.com/quarkchainofficial/
Discord:https://discord.me/quarkchain

QuarkChain Official

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

QuarkChain

Written by

https://www.quarkchain.io

QuarkChain Official

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

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