QuarkChain is a blockchain that seeks to offer 1 million on-chain transactions per second (TPS).
The projects is based on the concept of shards, sub-chains and root-chains and debuted back in February 2018.
The platform’s QKS tokens will be made available in an ICO that would be kicking off next month while the company is hard at work, getting the very first version of their blockchain to launch later this year.
QuarkChain labels itself to be “a highly scalable, decentralized, secure, public, permissionless blockchain.” The primary goal of the blockchain is to push the envelop of the industry forward by making good on augmented transactional capacity.
So the question now is, why do we need something like QuarkChain? And what issues are prevalent today that cannot possibly be resolved by today’s blockchains?
What problems aren’t being solved by today’s blockchains? The QuarkChain whitepaper takes a look at all of the following problems with today’s blockchains.
Quarkchain is endeavoring to advance the current blockchain space by substantially developing the TPS (transactions per second) to a million per second. This would make for a congestion-free and cost-efficient network that would operate various functions and assist in the adoption by big industries and businesses.
Quarkchain also emboldens weak miners that don’t have to participate in mining pools in order to take part in the network. This project is aspiring for a seamless platform that backs distributed social media, high frequency trading, IoT, gaming, integration of DApps on mobile phones(DApps2go) and financial transactions.
All these are shaping QuarkChain up to be such an exciting project. Although there are some gaps in information that need to be filled by the team soon, this project oozes of potential for the future.
The claim of 1 million TPS claim is a little bit worrying, of course, in spite of the MVP and the great team that is working day and night to make it happen. However, as history has shown, blockchain projects have this tendency to overachieve and go beyond what most expect of them, along the lines of another highly scalable and successful platform such as Zilliqa, which did really well in their ICO.
The future is bright for QuarkChain and we can’t wait for what’s to come.