The QuarkChain network is a peer-to-peer network based on blockchain, able to process up to 1 million transactions per second. Called by many the “the project to watch”, QuarkChain incorporates a special design that allows for high throughput and quick, efficient distribution of data.
According to Hacked, QuarkChain, with its special features, will be the “holy grail” of scalability, decentralization and security, a new, improved type of P2P blockchain system.
The special mechanism by which QuarkChain will achieve the three advantages of blockchain is by separating the security and scalability features into different separate layers. The new system of two layers is called the cross-shard system, where the first layer houses the small shards, or blockchains. The second layer is essentially the confirmation one, called the root chain, where all blocks created by the shards are confirmed.
As of December 26th, 2018, the supply of “QuarkChain is 801,649,919 out of a total supply of 10,000,000,000 QKC”. The ICO for the coin ended in June, 2018, with $20 million raised funds (of ETH). The algorithm that QKC is currently mined with is Ethereum’s Proof-of-Work.
Some of the cryptocurrency exchanges that currently support QKC are Binance, Bitrue, CoinBene and Bilaxy. The average traded volume is around $3 million worth of QuarkChain.