Introduction to the coin:
The Quarkchain Network (QKC Tokens) intends to offer a highly computerized sharding based blockchain architecture accompanied with the desire to meet the global commercial standard. The inspiration for the development of this technology stems from the immense amount of experience possessed by the Quarkchain team for building large-scale distributed systems within the corporate arena. These corporate systems are capable of handling billions of transactions every second by leveraging sharding technology,
Quarkchain wishes to remedy the scalability problem of blockchain without compromising on the other two pillars of decentralization and security.
Finally, the Quarkchain Network has the vision of establishing a high throughput network for supporting applications like distributed social media, high-frequency trading, gaming, etc.
Quarkchain is a decentralized, secure, scalable and permissionless blockchain. It intends to deliver 1 Million TPS by leveraging sharding technology.
Whenever it gets released, it ought to consist of 2 underlying layers.
The Sharding Layer
It consists of minor blockchains or shards that process a subset of all minor transactions. Now what this means is that as soon as the number of shards increases so do the number of transactions that can be processed on the Quarkchain Network and vice-versa.
The Root Layer
Its function is the validation of all the blocks in the sharding layer via block headers in the root block.
Through the power of this mechanism (sharding technology), Quarkchain is looking to create a balance amongst the three most vital pillars that any blockchain is striving for, i.e., decentralization, security, and scalability.
Mining activities on the Quarkchain platform will be carried out through nodes and clusters.
Within Quarkchain, multiple nodes forming a cluster are known as Clusters. As a result, there is a possibility of building supernodes on the network without using the power of super-computers.
All of this should favor small miners by providing them a competitive edge over the sharks in the mining game.
The roadmap for the project is as follows:
Q2,2018: Release of Testnet 1.0 with smart contract support.
Q4,2018: Release of Quarkchain core 1.0, Mainnet 1.0, along with smart wallet 1.0. ( targeting ~1,00,000 TPS ).
Q2,2019: Release of Quarkchain core 1.0, Mainnet 1.0, along with smart wallet 1.0. ( targeting ~1,000,000 TPS ).
Even though the Quarkchain platform has managed to secure 2,000 TPS in their primary closed tests, it’s still in Beta mode. Its team is still looking to recruit a bunch of volunteers for making further improvements in its testnet feature, which should be active approx. Around the exact time, the crowdsale for this token hits the market running.
Token usage and value appreciation:
The QKC tokens are going to be used as a unit of exchange on the Quarkchain Network. Besides that, they will also serve as an incentive to miners on the platform for validating blocks.
Furthermore, the first set of QKCtokens that ought to be released in the market is the ERC-20 type tokens on the Ethereum blockchain.
However, these will, later on, get migrated to the Quarkchain platform when it’s open to the public.
There will also be a token swap taking place when the mainnet will get released in Q4 2018.
Regarding speculation, the value of these tokens will most likely depend on the adoption of Quarkchain by the masses. Also, given that no other blockchain platform, in my opinion, is currently able to offer even 500 TPS, Quarkchain with its testnet 0.1 offering 2,000 TPS seems to have a bright future ahead of it. Therefore, the higher the adoption, the higher should be the value of these tokens and vice-versa.
Project name: QuarkChain
Token symbol: QKC
Total Hard cap: $20 million
Private sale: Private sale is overbooked.
ERC20 token: Yes (to be swapped on main net launch)
Conversion rate: TBA
Bonus structure: TBA
Countries excluded: TBA
Crowdsale timeline: Crowdsale to begin either in May end or early June ( please visit QuarkChain’s official website for the latest information ).
For more information click here.
The first testnet 0.1 which was released in Q1 2018 has been recording 2000 TPS as per their initial Steemit post.
- This, in my opinion, is way ahead of other blockchain technologies like Bitcoin, Ethereum, Litecoin, etc., offering a minimum of 3-4 for Bitcoin and even 56 TPS in case of Litecoin. So high TPS is definitely a plus point for the Quarkchain Team, and it’s the reason, I assume it will be a coin that could dethrone Ethereum in my opinion. But for now, nothing can be said because it’s in Beta mode.
- As more and more nodes are added to the testnet feature, higher levels of scalability within the Quarkchain platform should be achieved.
- Quarkchain is compatible with solidity. Even though it (Solidity) is challenging to learn for beginners, it’s in my opinion, a widely recognized language for programming dapps. Therefore, if certain Dapps require a greater throughput for development on Ethereum, they could switch over to Quarkchain, thus leveraging the low barrier to entry to take full advantage of the features of this platform.
- Their team consists of a solid mixture of engineers, research scientists, etc. that makes you feel secure regarding the execution of the project.
The Quarkchain network may or may not be able to retain certain people as a part of its team which may directly or indirectly affect its performance and thus affect either its UX or token price or both.
It faces a lot of competition from other networks looking to resolve the same issue (i.e., Loom, Ziliqua, TomoChain, etc.).
Our overall opinion for investing regarding short-term and long-term investment is as follows:
For short-term investment: Currently, we aren’t aware of the complete set of token metrics because they’re not public yet but what we are aware of is that with a hard market cap of $20 Millions, a fully booked private sale several times over and huge chunks of public awareness that is surrounding it’s project; it’s quite obvious that there will be a lot of unfulfilled demand to be met. Therefore, from a short-term investment perspective, this coin should be one that could help you accrue a tremendous short-term profit provided that you play your cards right.
For long-term investment: To the best of my knowledge and research only Quarkchain and Zilliqa are implementing sharding technology for dealing with the scalability issue faced by modern blockchain. In comparison to Zilliqa ( that has a market cap of 1Billion+$ ), Quarkchain seems to be heavily undervalued with a hard cap of only $20 Million. As a result of this, Quarkchain in comparison to other Blockchain 3.0 technologies are at a disadvantage concerning market capitalization/funding for the features and service it has to offer. Therefore, we are of the firm opinion that Quarkchain is set to be the one of the so-called “Big-Shot ICO’s” of 2018 both for short-term and long-term investment.
* The information provided within this article is for educational purposes only and NOT financial advice. Do your OWN research before making any investment decisions. Given that the cryptomarket is extremely volatile ONLY invest that amount of money that you’re ready to lose.
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