A new ICO coming out this month is promising to deliver revolutionary and new standards to blockchain technology. QuarkChain is going to have its private sale on May 7th 2018 and is already bursting out of the gate with some extraordinary claims about its power and efficiency. As for its public sale, the date is still to be announced and “depends on whitelist/KYC speed.” But the projected date is late May/Early June.
Qi Zhou is its founder and main developer. He has 15 years of experience working with companies like Google and Facebook developing their infrastructure and performance systems. What Zhou and his team promise is that QuarkChain will be capable of an astounding 1 million transactions per second using their all-new proprietary infrastructure. This software is designed to bring the three core elements of any successful blockchain to new heights: decentralization, security and scalability.
Many people know what decentralization and security are but scalability is a term less thrown around despite being just as important. It basically refers to transaction speed, so the high and mighty claims of transcendent transaction speeds are currently putting QuarkChain on everyone’s minds in the world of crypto these days.
Sharding Technology for Blockchain Means Higher Efficiency
More than just its own QKC token, QuarkChain’s main appeal is this new blockchain structure that aims to achieve high-end scalability performance by utilizing sharding technology and root chain layers. This will help make the QuarkChain allow its users to perform mining and transactions that are faster, safer and more private than any other blockchain in existence.
You might already be thinking to yourself: sharding? Root chain layers? What are these things and why should I be impressed with them?
Let’s explain a little further. Sharding is a specific way of organizing your software infrastructure. Sharding is accomplished by creating miniature node like structures that are connected in a horizontal pattern. These nodes are called data shards, and each individual shard handles a select amount of data and information processing. Having several data shards is more effective than very large individual nodes and is part of how QuarkChain aims to achieve their scalability goals.
It’s important to note that the sharding structure is considered “elastic” because the amount of shards can change at any time to better accommodate the load of information at hand. Another way to think of it is that each shard essentially acts like its own “mini-blockchain” in a way.
Root chains make up QuarkChain’s second layer of its infrastructure. They essentially just confirm the information that a group of shards has processed and passes it along throughout the rest of the blockchain. This is like the macro-level of the QuarkChain infrastructure whereas the shards are like the micro or mini-level.
These are all theoretically positive signs for the future of blockchain technology in general because QuarkChain is trying to address long-term problems that even Bitcoin is prone to. Bandwidth, memory allocation, storage requirements and raw processing power are only becoming heavier and heftier demands on conventional blockchain infrastructures with Bitcoin and Ethereum blockchains only getting larger by the day. The QuarkChain is meant to help nip these issues at the bud by addressing all of these complicated aspects of scalability and transaction based processes with one system.
A Good Thing for Miners
How is this a good thing for decentralization? For one thing GPU miners might be very interested in getting on board with this new system. Miners will be able to selectively choose which sharded blockchain area they wish to mine at. This allows them total individuality and freedom when it comes to mining for coin and doesn’t require that they join groups such as mining pools which is how mining is still typically done on most blockchains.
The ICO itself will be launching with a hard cap of 20 million dollars worth of tokens (Private Sale: $16M, Public Sale: $4M), which is roughly 10 billion QKC tokens. The tokens themselves act as fees that allow users to gain access to the QuarkChain and gain permission to perform transactions. They will also be used as rewards for miners and should increase in value the more activity QuarkChain acquires over time.
While the project seems extremely fascinating and ambitious, their detail on how precisely security protocols will function is less in-depth than how they are addressing issues of transaction speed or decentralized mining. There’s also some concern to be had over the idea of elastic sharding layers. While the idea seems like a great way to be prepared for unforeseen advances in activity or data processing there is also the risk that the system could become over bloated with too many shards. This might then lead to the risk of sacrificing the promised simplicity of a single smart wallet that manages and stores all kinds of token if the system gets too big for users.
Ultimately, we do find their claims of increased transactions per second (TPS) to be very endearing and fascinating. While we don’t want to be caught holding our breath we are very much looking forward to the future of QuarkChain and hope they can meet their own very high standards.