Blockchain adoption and use case are increasing rapidly. The most prominent financial institutions are researching the technology to position their services and products to benefit from the advantages of the blockchain. This expansion of use cases continues to increase the volume of transactions on blockchain networks, which is projected to continue.<\/p>\n\n\n\n
For blockchain networks to keep up with the pace and demands of expansion, networks must be regularly scaled to accommodate more resources to increase throughput. For instance, in January 2018 transaction fee on the Ethereum network was 47 times higher than the May 2017 level due to the massive number of transactions and congestion on the Ethereum network.<\/p>\n\n\n\n
The challenge to scalability is that it might compromise security and decentralization in what is now known as the blockchain trilemma. The blockchain industry has employed tradeoffs, sharding, lightning networks, and multiple blockchains strategies to scale networks. While these techniques have been successful in offloading transactions and increasing throughput while not compromising security and decentralization, they do not provide a lasting solution.<\/p>\n\n\n\n
QuarkChain’s shard-based blockchain architecture, which can process an unlimited number of transactions per second, was created to solve this problem.<\/p>\n\n\n\n
QuarkChain is a permissionless blockchain network that aims to meet global commercial requirements with the capacity to sustain a secure, decentralized, and scalable blockchain solution to deliver 100,000+ on-chain transactions per second.<\/p>\n\n\n\n
The following principles guide the QuarkChain Network:<\/p>\n\n\n\n
Blocks of current blockchain technology contain two basic functionalities: the Ledger and Confirmation. The Ledger performs transactions and documents data on the chain while the Confirmation function validates the records of the transaction recorded by the Ledger and mines blocks desired difficulty levels. The data-intensive ledger function creates constrain because there is a limit to the amount of data that can be packed into the blockchain. In contrast, the energy-intensive Confirmation function combines with the Ledger to limit blockchain scalability.<\/p>\n\n\n\n
In contrast to current blockchain designs, QuarkChain splits the above-mentioned basic functionalities into two layers to ensure scalability and protect security. The QuarkChain network operates an elastic shardy blockchain layer. This layer contains a sum of minor blockchains that independently process minor transactions, thus, making it possible to process more transactions as the number of shards increases.<\/p>\n\n\n\n
Secondly, QuarkChain has a Root Chain which provides an extra layer of confirmation for all blocks from the minor blockchain. QuarkChain makes it possible to increase the number of shards on an active network without compromising security. QuarkChain evenly distributes hash power among minor blockchains to ensure equal output, which increases speed and transaction efficiency as shards increase.<\/p>\n\n\n\n
QuarkChain can prevent the double-spend attack by using its RootChain, which controls over 50% of the network’s hash power.<\/p>\n\n\n\n
The RootChain is powered by the Proof-of-Work consensus algorithm similar to the Bitcoin, while the Shards run on the Root-Chain-First PoW consensus algorithm.<\/p>\n\n\n\n
The native token of the QuarkChain is the QKC. It functions as a unit of exchange and payment for services within the network. In contrast to other networks, holders of the QKC enjoy no special rights.<\/p>\n\n\n\n
QuarkChain provides a needed solution to the scalability problem of the blockchain without compromising security and decentralization like other networks. This puts the project in a strategic position as the blockchain. Continues its ride to global adoption.<\/p>\n\n\n\n
QuarkChain aims to support more than 100,000 on-chain TPS. The network uses a multiple Shard system that evenly distributes hash power for equal contribution to total output. Increasing shards, therefore, increases network speed and throughput. QuarkChain can increase throughput by about eight times the capacity of single shard networks. QuarkChain developers created an 18 node and 8 Shard network, which allows for flexible and speedy transaction verification.<\/p>\n\n\n\n
QuarkChain is still a long way from reaching its 100,000 transactions per second. This implies that the network possesses huge capacities to handle even more transactions. With its pooled mining and dual blockchain layers, QuarkChain enables the dramatic scaling of its network. Its advanced sharding technology can increase the number of Shards in a network, increasing the capacity to process more transactions per second in real-time.<\/p>\n\n\n\n
Despite its novel technologies and solution to the problem of scalability, QuarkChain has struck a fine set of partnerships to further its course. In 2021, QuarkChain partnered with Knit Finance, a unique decentralized protocol for creating cross-chain wrappers for some of the biggest assets. The partnership will allow QKC integration into the Knit Finance multichain platform, enabling QKC users to transact the token across multiple independent blockchains in a wrapped K-QKC token.<\/p>\n\n\n\n
In 2021, Dragon Vein partnered with QuarkChain to further its blockchain business through the Quark chain ecosystem.<\/p>\n\n\n\n
Center Prime, a blockchain platform based on sharding. The partnership will see QuarkChain gain access to the Defi ecosystem through Center Prime’s Oracle perceptron Wallet SDK. This will make it possible for QuarkChain to provide financial services within the real-life economy in the areas like transportation, gift certificates, and overseas remittance fees.<\/p>\n\n\n\n
QuarkChain also has partners with angel investors with whom the project has raised over $20 million. These investors include Chain Capital, Fission Capital, and Espeed Capital, among others.<\/p>\n\n\n\n
QuarkChain is currently worth $<\/b>0.001938<\/span><\/span><\/span><\/strong> USD. QKC has moved -0.34%<\/span><\/span><\/strong> in the last 24 hours with a trading volume of