Overview

  • Country USA, China
  • CategoryFinance/ Peer-to-Peer Transactional System

QuarkChain is a high-throughput blockchain that aims to achieve millions of transactions per second (TPS).

Project stage

Beta version

Detailed description

QuarkChain is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. It provides a secure, decentralizid, and scalable blockchain solution to deliver 1,000,000+ on-chain TPS. The main idea of QuarkChain was inspired by our extensive experience in developing powerful large-scale distributed systems in centralized world that handles billions of TPS. The team manages to apply the technologies on blockchain to create the uique solution on blockchain scalability problem. The solution aims to largely the boundaries of blockchain usabiluty without damaging its safety and decentralization features. 

Problem

Bitcoin community meets the problem of scalability (blockchain only offers around 4 TPS) that usually sacrifices decentralization and security.  Different solutions compel the community to split through a controversial hard fork.

Solution

QuarkChain aims to deliver hundreds of thousands or millions of transactions per second in a few years (from 10K TPS to 1M TPS).

Features

  • Reshardable two-layered blockchain: QuarkChain consists of two layers of blockchains. We apply elastic sharding blockchains (shards) as the first layer, and a root blockchain as the second layer that confirms the blocks from the first layer. The second layer is flexible to be resharded as needed without changing root layer.
  • Guaranteed security by market-driven collaborative mining: To ensure the security of all transactions, a game-theoretic framework is designed for incentives, where at least 50% of overall hash powers are allocated to the root chain to prevent double spending attack on any transactions.
  • Anti-centralized horizontal scalability: In any blockchain network with a high TPS, a super-full node can be extremely expensive, which encourages centralization. In contrast, QuarkChain allows multiple cheap nodes forming a cluster to replace a super-full node.
  • Efficient cross-shard transactions: Cross-shard transactions in QuarkChain can be issued at any time, and confirmed in minutes. The speed of cross-shard transactions increases linearly as the number of shards increases.
  • Simple account management: There is only one account needed for the entire blockchains (shards) in QuarkChain. All cryptocurrencies from different shards are stored in one smart wallet.
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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : QKC
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 20,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 QKC
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :200,000,000 QKC
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Canada, China, Congo, Cuba, Ethiopia, Iran, Iraq, New Zealand, North Korea, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tunisia, USA, Yemen,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Private Sale: 10% release each month for the frst 4 months and 20% release each month for the later 3 months ( the token is available at the end of each month 10%,10%,10%,10%,20%,20%,20%)
          • Public Sale: No lockup
          • Team: 2 years
          • Foundation: 2 years
          • Advisor: 2 years

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Public Sale — Ended
    02 Jun 12:00 UTC
    03 Jun 23:59 UTC
    3.17128 ETH No Min 0.001 ETH Uncapped 4,000,000 USD
    Private Sale — Ended
    Start Soon
    2.53704 ETH 25% - Uncapped 16,000,000 USD
    Public Sale

    a. First 12 hours: max contribution x ETH 

    b. next 8 hours: max contribution 2x ETH 

    c. next 4 hours: max contribution 4x ETH 

    d. next 2 hours: max contribution 8x ETH 

    e. next 1 hours: max contribution 16x ETH 


    Read more about vesting and bonus
    • Team

      • Qi Zhou photo
        Qi Zhou
        Founder
      • Zhaoguang Wang photo
        Zhaoguang Wang
        Software Engineer
      • Xiaoli Ma photo
        Xiaoli Ma
        Research Scientist
      • Yaodong Yang photo
        Yaodong Yang
        Research Scientist
      • Wencen Wu photo
        Wencen Wu
        Research Scientist
      • Anthurine Xiang photo
        Anthurine Xiang
        Marketing and Community
      • Ting Du photo
        Ting Du
        Business Development and Eco-system
      • Patrick Mei photo
        Patrick Mei
        Community Manager
      • Julianne Zhu photo
        Julianne Zhu
        Social Media Broadcasting
      • Bill Moore photo
        Bill Moore
        Former president of DSSD
    • Advisors

      • Arun G. Phadke
        Winner of Benjamin Franklin Medal
      • "PEERCHEMIST"
        Founder of Cloudant
      • Zhiyun Qian
        Expert in cyber security

    Roadmap

    • Q4 2017

      Started drafting white paper

    • Feb 2018
      • Verification Code 0.1 White Paper Release
      • Testnet 0.1 Wallet 0.1
    • March 2018

      Testnet 0.1 Wallet 0.1

    • Q2 2018

      Testnet 1.0 Smart Contract 0.1

    • Q4 2018

      QuarkChain Core 1.0 Mainnet 1.0 SmartWallet 1.0

    • Q2 2019
      • QuarkChain Core 2.0 
      • SmartWallet 2.0

    Activity