QuarkChain - Blockchain based Peer-to-Peer Transactional System

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The growth of the blockchain based online transaction enabling the users to manage the financial system online in a very secure way. The global electronic transaction volume is consistently growing, and it seems that at some point the managing the large-scale volume cannot be possible for the current blockchain based system. We need other strong solution that allows us to smooth expansion in the long run without halting the growth. The low capacity blockchain base system cannot cover the worlds e-commerce transaction requirement anytime. Therefore, finding the solution to that provide the scalability by keeping the security and decentralization intact in the system.
QuarkChain is innovative permissionless blockchain architecture built to provide a global wise commercial standard. The system is capable of providing secure, decentralized and scalable blockchain solutions that deliver 100,000+ on chain TPS.

Features of the QuarkChain

  • Two Layered blockchains: Quarkchain system is consist of two layers of the strong blockchain. The first layer is elastic starting blockchain layers which also called shards. The second layer is root blockchain that confirms the blocks from the first layer. The first layer is flexible enough to change as per the need without touching the second root layer.
  • Guaranteed Security: The system ensures the high-level os security. It made possible due to the market-drove collaborative mining system where everyone if contributing equality which enables a high level of security in the system. Each piece in the system must be matched before activating any file or opening document. Any of the missing files will not allow the system to give access to the particular file to the user. To ensure the security of all the transaction the special frame named game theoretic is designed to give incentives to the supporting members. In the verification process at least 50% of the overall hash powers are assigned to the root chain to avoid any attack on any transaction.
  • Anti Centralized horizontal scalability: The Quarkchain also solves the problem of the expensive supernode problem. In any blockchain network with a high TPS system will be extremely expensive. This is where the Quarkchain system comes in place which allows multiple cheap nodes forming a cluster to replace an existing super full node.
  • Cross-shard transactions: Cross-shard transaction makes the verification process easily. The cross-shard transaction can be issued instantly at any time and confirmed in minutes. The system is invented in a way that when the speed of cross-shard transaction increases the number of shards also increases automatically.
  • Simple Account Management: You no longer need to manage multiple accounts to deal with several other blockchain systems. You only need one account to manage entire blockchain shards in the Quarkchain platform. Everyone cryptocurrencies from the different shards are stored in the one single smart wallet system. It protects your time and capital as you no need to browse different account by going to the different blockchain based website to manage your financial system. One Quarkchain wallet can provide you full access.
  • Turing-complete Smart Contract Platform: The Quarkchain network also supports turning-complete smart contracts. It also adopted the Etherium Virtual Machine to make easy migration of existing EVM decentralized apps.

Token

Ticker: QKC
Token Type: ERC20
Token Price: 1 QKC / $0.0253
ICO Hard Cap: $20m
Total Tokens: 10bn
Tokens for sale: 2bn
Investor Proposal

Design Principle

The Quarkchain platform is designed to ensure the easy scalability when need by keeping the core strength, security, and decentralization system in the platform.
Users experience matter the most when it comes to driving the system and making it more popular in the industry. The system enables the seamless cross-shard transaction for high-quality users experience.
Simplicity matters the most in the customer servicing. The Quarkchain platform is designed with the simple account management system that anyone can easily access and use the features without needing any help. All the information in the account is design in very simple manner. You do not require to have any technical knowledge to operate the account and manage it. It also has an open standard to support various Dapp.
The incentive-driven ecosystem motivates the users to participate in the various activities. It is a driving force of the platform that allows the system to scale quickly and move the system faster in the industry.

System Operational Aspects

On chain and off chain transactions
The Quarkchain network supports high scalability approach. It can also manage off chain transactions. While managing the transaction, some application requires both on-chain and of- chain handling. For instance, some transaction needs to access external data. The two layer of sharding structure makes the on-chain and off-chain handling very flexible. It opens more opportunities and applications in the system.
Smart Contract
The QuarkChain Network will be supporting smart contracts through Ethereum virtual machine. EVM is known for its powerful execution engine which is widely used for smart contracts on the blockchain. The existing Dapps built on the EVM system can be easily deployed on the Quarkchain network. To overcome the high scalability problem in case of high demand the Quarkchain network can deploy the additional scalability aware interface with the features such as shard the contracts are being executed and smart contract-specific data through the different shards will be sent.
Account Management
In the QuarkChain platform, the users can manage all addresses in all shards via a private key. In the system, the users will have the same number of addresses as the number of shards. If the number of shards size is huge, then users may have multiple balances in multiple shards, thus managing the multiple balances in multiple shards will be inconvenient.
The next information will assist you to understand the account management system.
  • Primary Account:
    In the default account the users receive the address which gives them a shard management facility. The address becomes their identity in the platform. Whenever the users participate in any activity in the network, the primary account address is utilized in the process.
  • Secondary Account:
    In the secondary account the rest of the address is managed. The shards will be kept in the secondary account which can be used later when it requires.
The Quarkchain kept the account simply to give the users easy to manage the system. Majority of the transaction of the platform will be initiated from the primary account. The temporary transaction will be moved to a secondary account, for instance, the smart contract in the different shards will be sent to the secondary account. If there is remaining balance in the secondary account, the balance will be automatically moved to the primary account. All the activities will be done through the primary account. The secondary account is useful for temporary shifting some of the smart contracts in the system. Once the contract it competed the final transaction amount will be shifted to the primary account. The automatic transaction transfer in the primary account ensures that the most of the balance is always in the primary account. Therefore, the user does not need to manage the balance in the address of the secondary account. The features are only available in the Quarkchain platform that enables the smart wallet transaction.

Conclusion

The Quarkchain platform is developed by keeping long-term need in mind. The scalability of the platform will be easy when it is required. The users will never have to face the scalability problem. It can grow at the speed of the blockchain system grows over the period.
More information on the project ( Quarkchain ) please visit their website listed below:-
 WEBSITE: https://quarkchain.io/
Author: Dulaj Dilshan
Telegram username: @sachindu15
Country: sri lanka
Email: sddcool15@gmail.com
My etherwallet: 0x77BF6EB201EE97DdD62Fa5d3c9484a2C5BF6F4D0
Thank You!

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