Competition in the sphere of scalable dApp-protocols is more severe than in others, so it has to be taken into consideration. In order to solve this problem, several projects have already launched the alternative protocols that aim to significantly increase the throughput of the blockchain protocols. For instance, EOS launched its infrastructure for dApps, which Test Network can sustain over 10,000 TPS. EOS raised 197M during its ICO in June 2017 and now is the 5th largest cryptocurrency in the world by market cap. IOTA is able to process 500-800 TPS, raised 400M and now 11th by market cap in the world of cryptocurrencies. That is why the potential growth and community attention to Quark Chain might be lower.
The test net Alpha Version was released in March 2018 and it supported 2000+ TPS. It is a decent result but it is too far from the declared througput of 1M+ TPS. The product has been in development for 4 months only, according to GitHub. There is no information about patent applications
Now there is no information on the expected size of the fee.
Most of the financial details have not yet been released and are TBA.
Some of the declared team members does not have Quark Chain as a workplace on their Linkedin Pages. There are 3 Research Scientists in the project team and it is unclear what roles they have. The team has strong technical background but this experience mainly comes from large corporations. There is no one in the team with track record of launching and scaling startups.
One of the main issues of the blockchain technology mass adoption is its low level of scalability. The current low capacity of the main blockchain protocols and cryptocurrencies (Bitcoin, Ethereum), more specifically 10-30 transactions per second (TPS), cannot cover the world's commerce anytime. In contrast, Visa claims to have 56,000 TPS on its network, while Alipay has achieved 200,000 peak TPS in November 2017. The scalability problem of the current blockchain-based networks poses significant limits for their extensive applications. How to scale up blockchain TPS without compromising its security and decentralization remains elusive. In order to solve this problem, several projects have already launched the alternative protocols that aim to significantly increase the throughput of the blockchain protocols. For instance, EOS launched its infrastructure for dApps, which Test Network can sustain over 10,000 TPS. EOS raised 197M during its ICO in June 2017 and now is the 5th largest cryptocurrency in the world by market cap. IOTA is able to process 500-800 TPS, raised 400M and now 11th by market cap in the world of cryptocurrencies. That is why the potential growth and community attention to Quark Chain might be lower. Overall, the scalable protocols for dApss gain large public attention during token sales and have comparably high ROI's. However, competition in this sphere of blockchain is more severe than in others, so it has to be taken into consideration.
Quark Chain aims to create a reshardable two-layer blockchain. The first layer consists of an elasting sharding blockchains. As the number of shards is growing, the amount of processed transactions per second is also growing. The second layer is a root blockchain which confirms the blocks from the first layer. The second layer does not process the transactions but only confirms them. The second layer is flexible to be resharded without changing the root layer. There will be two types of transactions within- and between-shards transactions. Within transactions occur between two addresses of one shard. Also, it is possible to make transactions between the shards, which is a competitive advantage of Quark Chain. The throughput of between-shard transactions system will grow linearly with the growth of the number of shards. Quark Chain will also create a smart-wallet. There will be only one account needed to store different cryptocurrencies from different shards in one smart-wallet. According to GitHub of the project, the product development started in Mid January 2018. Quark Chain will support smart-contract on Ethereum Virtual Machine to be compatible with the exisitng dApps. The test net Alpha Version was released in March 2018 and it supported 2000+ TPS. It is a decent result but it is too far from the declared througput of 1M+ TPS.
Quark Chain will charge transaction fees for each transaction on Quark Chain, paid in QKC tokens. The team proposes that the transaction fee will be low. However, now there is no information on the expected size of the fee. More information on the token economics is TBA.
The announced hardcap is 20M USD, there will be 10B tokens issued in total. Overall, the hard cap seems reasonable for this type of project, because the testnet has already been released. As of today (28.04.2018), other details about the financials, including ICO dates, tokens distribution, expenses distribution, token release timeframes have not yet been published and are to be announced soon. It is expected that ICO will be conducted in the late May - early June.
There are 10 people working in the team, according to the WP. The team has strong technical background. CEO of the project - Qi Zhou - previously worked at Facebook, Google, and DELL and joined Quark Chain this March, according to his LinekdIn Page. Other team members also have strong technical background and worked at Facebook, Google, Instagram, At&T and graduated from high-ranked universities in China and USA. There are 3 Research Scientists in the project team and it is unclear what roles they have. Most of the core competencies are covered by the team members.
ru
