Decentralized high-capacity peer-to-peer transactional system
Price on ICO, eth
May. 28, 2018
Jun. 30, 2018
1ETH = 31533QKC
Starts in 6 days
QuarkChain is a decentralized high-capacity peer-to-peer transactional system that is aiming to process more than 1 million transactions per second (TPS). To evaluate this number, compare it with the current speed of Visa which is about 65 thousand TPS. This will resolve the scalability problem of today’s blockchains. The QuarkChain ecosystem will consist of two layers – a sharding layer and a root layer. The first one will increase the throughput by distributing data more effectively. The second one will confirm the blocks from the shards. As a result QuarkChain will achieve three effects traditional for blockchain – scalability, security, and decentralization. Apart from the horizontal scalability, the system will have such features as a single account for all shards and a possibility of cross-shard transactions. QuarkChain is the first blockchain that supports state sharding, turing-complete smart contracts, and clustering as peers. The platform will also allow dApps, such as CryptoKitties, as well as apps requiring high transaction speed to be deployed directly on the platform.
Their ERC-20 token called QKC will be used for all transactions on the platform. In future, the tokens will be produced by miners. A total supply is 10 billion tokens. The distribution is as follows: 45% – mining, community, and marketing, 20% – sale, 15% – foundation, 15% – team, 5% – advisors. The tokens of the last three items of the list (all in all 35%) will be locked up for 2 years.
The team consists of 9 people and includes top specialists with a previous experience in such software monsters as Google, Facebook, and Instagram. They also have several scientists and researchers, PhDs, professors, specialists in blockchain, finance, and PR. Seven advisors add their expertise at engineering, blockchain, cyber security, and investments.
The huge hype around QuarkChain is not just a glossy cover, the project has already proved they are going the right way by demonstrating 2,000 TPS while using only a few nodes. Compare it with 15 TPS of Ethereum, and you’ll understand everything. If they manage to attract a significant number of dApps, the project will definitely be among top blockchains.
QuarkChain is going to become one of the top ICO projects by resolving a critical problem of blockchains – low speed. We don’t see what can prevent them from achieving their goal.
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