Know Everything About QuarkChain (QKC)

What is QuarkChain (QKC)?

QuarkChain is a unique blockchain architecture that does not require permission. Further, it uses blockchain sharding technology to provide a flexible, scalable, and user-oriented structure. The primary purpose of this blockchain was to facilitate global commercial standards capable of delivering a minimum of 1 lac transactions/second on-chains. 

The main attraction is its scale, affordability, and speed, making this blockchain suitable for all applications, including gaming, payment, high-frequency trading, distributed social media, and IoT.

QuarkChain is a multi-layer, permissionless blockchain designed to enable peer-to-peer transactions. It was developed to address key concerns in scalability that crippled Ethereum’s initial release. QuarkChain uses sharding to enable sidechain interoperability and achieve over 10,000 transactions per second (TPS). QKC, QuarkChain’s native cryptocurrency, is currently an ERC-20 token on the Ethereum-based testnet.

QuarkChain’s testnet was in 2.0 on Ethereum as of December 31, 2018. A mainnet launched April 20, 2019 and is still in early development.

It was founded by Qi Zhou with a promise of reaching one million TPS (a claim our staff has very strong opinions on). Even without ever reaching such a target, the current testnet shows a lot of promise for the mainnet launch.

The project is often compared with Zilliqa, which uses a similar sharding technique. We’ll discuss a little of their similarities, but we’ll also do so in perspective of the hundreds of other sidechain and interoperability solutions created over the past two years, including the Lightning Network, MOAC, etc.

Before examining the technical and business prospects of QuarkChain, let’s review the performance of QKC, QuarkChain’s proprietary ERC-20 cryptocurrency token.

Primary features of QuarkChain

• Flexibility: QuarkChain currency is a public chain that facilitates multiple transactions, ledger, consensus, and token economics in one network. In addition, the network allows two consensus algorithms, i.e., PoW and PoS or a combination of both. 
• Decentralization: QuarkChain has 2-layers of structure that encourage miners to mine directly without participating in mining pools. So, they can also mine in the shard or the root chain. 
• Scalability: QuarkChain aims to deliver 1 lac + on-chain TPS. Till now, 55000+ TPS has been achieved.
• Superb usability: You do not require multiple accounts here; only one account is enough to access entire resources in all shards and smart wallets, making management effortless.