QuarkChain

What is QuarkChain?

QuarkChain stands as a cutting-edge blockchain infrastructure designed to deliver unparalleled flexibility, scalability, and user-centric functionality. At its core, QuarkChain leverages the innovative technology of blockchain sharding to elevate the performance and efficiency of decentralized systems.

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Recent Video Interview

Main points of the interview:

• QuarkChain plans to launch its mainnet, following a month of final testing and security checks.
• Aims to provide scalability and flexibility through a multi-consensus, multi-ledger structure.
• Key features include transparent, open-source development on GitHub and the ability to support multiple native tokens across different shards.
• The team is also working on privacy-preserving features and permissioned components to meet enterprise and developer demands.

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QuarkChain Architechture

QuarkChain addresses are composed of a standard 20-byte Ethereum address (the recipient) and an additional 4-byte full shard key. To facilitate re-sharding and dynamic updates without impacting existing shards, a middle layer abstraction called "chains" is introduced between the overall network and individual shards. The QuarkChain network comprises multiple chains, with each chain containing multiple shards. It's important to note that a chain is a conceptual layer, and all consensus logic, such as root-chain-first-consensus and cross-shard transaction implementation, applies uniformly across all shards.

Smart Contracts

QuarkChain implements the Ethereum Virtual Machine (EVM) on each of its chains/shards, enabling support for all Ethereum smart contract bytecode compiled from Solidity.

Key points regarding smart contract deployment:

• If a user lacks a balance on the target shard, they must manually obtain sufficient balance from either their balance on another shard through a cross-shard transaction or from another user.
• In the future, the handling of case 1 will be automated through a smart wallet. Calling a Smart Contract: The process of calling a smart contract mirrors that of Ethereum.
• Users can use the blockchain explorer UI and load the Application Binary Interface (ABI), or use libraries like web3 that facilitate interfacing.
• For a successful call, both fromFullShardKey and toFullShardKey must map to the same chain/shard, ensuring that gas is consumed but the contract is effectively called.
• This requirement guarantees that both the calling and called smart contracts will always be in the same shard, irrespective of network resharding (though this is not yet enforced in the devnet).

Mining

To cater to the needs of miners, QuarkChain accommodates mining activities using both GPU and CPU. GPU mining is compatible with NVIDIA and AMD graphics cards. QuarkChain has introduced a user-friendly one-button mining feature, eliminating the need for miners to maintain a dedicated cluster when participating in mainnet mining. The GPU yield surpasses that of ETH, ranging from 1 to 5 times higher, and the return correlates with the amount of tokens staked.

Miners are afforded the flexibility to choose shards based on their hash power and token holdings. For CPU mining, QuarkChain employs the Qkchash algorithm, a proprietary solution resistant to ASIC. Two chains support CPU mining, generating an average of 28,080 QKC each day.

Investors

QuarkChain has quite a long list of investors, namely 8 Decimal Capital, Bixin Capital, Genesis, Fenbushi, Digtial, Alpha Chain, Chain Capital, Draper Dragon, Dimension Eleven Capital, Fission Capital, Future Money, Hashed...

Project Development

QuarkChain has entered into a strategic partnership with VIW focused on NFT (Non-Fungible Token) verification technology. As part of this collaboration, VIW will provide its Enterprise NFT verification service to QuarkChain. This partnership enables QuarkChain to deploy its smart contracts using industry-standard ERC721 and ERC1155, as well as VIW's innovative Watermark technology.

VIW's NFT creation process involves minting by creators, connecting their personal IPFS to the metadata of the NFTs. To initiate this, creators are required to deploy their smart contracts using ERC721, ERC1155, or VIW's unique Watermark. The latter, Watermark, stands as VIW's distinctive feature, aiming to redefine security standards in the NFT market. This strategic collaboration represents a significant step towards enhancing NFT verification and security within the QuarkChain ecosystem.

QuarkChain Price Analysis

As of November 24 2024 QuarkChain has a marketcap of $71M. This is {{percentagefromath}} from its all time high of $0.338765. In terms of its tokenomics, there's a total supply of 10B with 71% currently outstanding. Keep in mind QuarkChain has a fully diluted value of $101M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.