QuarkChain

High-capacity peer-to-peer transactional system

[Short general description]: QuarkChain is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. It provides a secure, decentralized, and scalable blockchain solution. 

 

[Main contribution proposal]: Tries to introduce a groundbreaking innovative permissionless blockchain architecture, that aims to meet the global-wise commercial standard. The main idea of Quark was inspired by extensive development experience in developing large-scale distributed systems in centralised world that handles billions of TPS. With the help of blockchain technologies QuarkChain manages to apply on unique solutions and thus solve the scalability problem. These solutions aim to largely expand the boundaries of blockchain usability without damaging safety and decentralization features. Another proposal is helping to move the blockchain into the next generation by increasing the number of TPS, thousands to million folds higher, while maintaining security or descentralization. A free of congestion network and thus affordable for everyone with different purposes. Ultimately, Quark aims to build a seamless platform to support distributed social media, high frequency trading, IoT, gaming and financial problems.

 

[Main problems tackled]:

1) Reshardable two-layered blockchain - two layers on which elastic sharding is applied on 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 the root layer. 

2) Guaranteed security by market-driven collaborative mining: to ensure 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.

3) Anti-centralized horizontal scalability expansion - QuarkChain allows multiple honest nodes in a cluster to run a super-full node. Each node in the cluster only validates a sub-set of chains.  

4) Efficient and secure cross-shard transactions - through in-shard and cross-shard transactions. 

6) Simple account management - QuarkChain system greatly simplifies account management.

5) Cross-chain transactions - One root chain, the transactions from other blockchains can be implemented by converting the tokens by an adapter, then performing the transaction like a cross-shard transaction from QuarkChain side. 

 

[Innovation]:

1) On-chain and off-chain transactions - the QuarkChain two-layer sharding structure makes the on-chain and off-chain handling very flexible.

2) Design principle - enhancing the scalability while guaranteeing security and decentralisation

3) Collaborative mining - has as a goal, to designing incentives mechanism and difficulty algorithms so that: has power are incentivised to distribute evenly among shards. The root chain has a significant large positions (over 50%) of hash power over the whole has power of the network. 

4) Smart Contract - QuarkChain will support contracts via EVM (most of the existing dAppscan be directly deployed on QuarkChain platform.

5) Account management - Since a user can manage all addresses as the number of shards via private key, a user will essentially have the same number of addresses as the number of shards. To simplify management, most transactions of a user will be initiated from the primary, temporarily move to an address in secondary account if the transaction requires, and if there is remaining balance in secondary account after the transaction, the balance will be moved back to the primary account. 

6) Smart wallet - this feature will simplify account management when using transactions that a user does not need to be aware of the underlying detailed in-shard/cross-shard operations. 

ICO Rating Analysis
Team Evaluation
4.50 / 5.00
Product
3.67 / 5.00
Token Economics
5.00 / 5.00
Business Evaluation
4.20 / 5.00
Hype and media presence
4.00 / 5.00

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
5
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
4
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
4
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
4
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
3
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
5
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
5
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
4
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
5
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
4
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
3
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
5
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
4
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
4.35

Team

Member
Qi Zhou
Founder
Zhaoguang Wang
Software Engineer
Xiaoli Ma
Research Scientist
Yaodong Yang
Research Scientist
Wencen Wu
Research Scientist
Anthurine Xiang
Marketing and Community
Patrick Mei
Community Manager
Ting Du
Business Development and Eco-system
Kyle Wang
Operation
Julianne Zhu
Social Media Broadcasting

Advisors

Arun G. Phadke
Winner of Benjamin Franklin Medal
Bill Moore
President of DSSD
Mike Miller
Founder of Cloudant
Kevin Hsu
Invested over 60 blockchain companies
Leo Wang
Famous crypto fund manager
Zhiyun Qian
Expert in cyber security

Updates

Title
Published at
Hello, world!
4 months ago
QuarkChain.io is released.
4 months ago
Meet QuarkChain Team in Asia.
3 months ago
Our testnet alpha is ready.
3 months ago
QuarkChain meetup in San Mateo, USA
3 months ago
QuarkChain meetup in Xian, China
3 months ago
Want to know more about us?
2 months ago
Community Notice Apr.
2 months ago
QuarkChain-What We Focus On
2 months ago
Vote for Us!
2 months ago
Global Blockchain Summit-Apr 27
2 months ago
Grateful for Your Support
2 months ago
EXCLUSIVE Interview with QuarkChain Founder
2 months ago
CEO’s small share conference in California.
2 months ago
Warm Remind
2 months ago
Join Us!
2 months ago
Welcome programmers to segmentfault with us to marathon and play together.
2 months ago
Other Language White papers on the Way
2 months ago