QuarkChain: Looking to the Future
Businesses are starting to recognize the correlation between the dot.com revolution and blockchain/cryptocurrency. In order to not be left behind, major companies and institutions are implementing blockchain technology at a rapid pace. While giants such as Facebook are creating their own cryptocurrency, the majority of companies will look for solutions already within the blockchain community and this is where QuarkChain shines. With much greater scalability than Ethereum, QuarkChain offers businesses a solution with QuarkChain 2.0 – a platform that focuses on flexibility for businesses onboarding blockchain and implementing multi-native tokens.
What Sets QuarkChain Apart from Other Blockchain
Most of public blockchains (such as Bitcoin, Ethereum, etc) have a fixed combination of four components: Consensus (POW, POS, DPOS, PBFT etc.), transaction model (BTC type script-based transaction model, different types of virtual machines, privacy type transaction model etc.), Ledger (UTXO, account-based ledger, etc.), and token economics. Current public blockchains are designed to meet the needs of certain specialized industries and aren’t flexible or adaptable for others. However, with QuarkChain 2.0, any type of business can customize their needs by easily choosing the right combination of these four components in one shard of QuarkChain.
For example, a DEX requires order book info to be stored in the ledger while others do not. Games will prefer DPOS since the confirmation time is short. With QuarkChain each shard can be customized for the combination of consensus, transaction model (including VM type), ledger and token economics. Also, hard forks, such as the recent BCHSV fiasco, become obsolete since QuarkChain enables different paths existing in the same infrastructure through different shards.
QuarkChain will be the first infrastructure that allows multiple consensuses, multiple transaction models (including virtual machines), multiple ledgers and multiple token economics to co-exist. Building upon QuarkChain allows new technology to be applied (no matter if it is consensus, transaction model, virtual machine, ledger or token economics) in a new shard which offers the flexibility needed for new companies, no matter the type, to onboard to the blockchain. In addition, all shards with different combinations of these four dimensions could enjoy the high-efficient cross-shard transactions and high-security level brought by the network.
QuarkChain 2.0 also implements a multi-native token structure. Whether it is a dApp or vertical blockchain project, the token will have the same function as the other native tokens with no difference between the primary and the secondary token. This allows each project developing on QuarkChain to independently design their own token economics, without the occurrence of paying GAS fees using ETH for ERC-20 transactions.
Also, as QuarkChain adds features in the infrastructure, all other tokens in QuarkChain will enjoy the benefits of the entire ecosystem. For example, when a privacy shard is built into QuarkChain, all other tokens in the QuarkChain network will enjoy the benefit of privacy cryptocurrency. Multiple native token support will greatly enhance existing dApps and QuarkChain believes it should be an important feature of next-generation blockchains. With QuarkChain’s mainnet scheduled to launch April 30th with state sharding already implemented and reaching a peak of 50k+ TPS in the latest TPS competition held in the community, QuarkChain is a project to watch in 2019.
Blockchain technology is rapidly growing and QuarkChain is not only keeping pace but ahead of the pack. From POW to POS, who knows what will be the next most efficient or most popular consensus in the blockchain world. QuarkChain is built for companies now and has the adaptability built in for the future as well. When the next technology (whether it’s a new consensus or a virtual machine) becomes available, QuarkChain will be able to easily adopt it within their infrastructure. QuarkChain 2.0, based on sharding technology, is creating a flexible and scalable infrastructure that can easily incorporate state-of-the-art blockchain innovations while satisfying the needs of diverse industries. With QuarkChain’s mainnet scheduled to launch April 30th, investors should keep close tabs on this exciting project.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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