QuarkChain Price Prediction: Will QuarkChain Be A Formidable Bitcoin Competitor?

Quarkchain is an open-source permissionless blockchain network designed to provide secure and decentralized transactions and mainly focused on high-capacity peer-to-peer transactions. Quarkchain also aims to comply with the global standards for commerce. It uses shards to enable sidechain interoperability and achieve over 100 000 transactions per second.  

Quarkchain network has 2 layers of blockchain: elastic sharding network as the first layer and a root blockchain as the second layer that approves the blocks from the first layer. The first layer can be changed without modifications of the root layer. 

The security of the operations is granted by market-driven collaborative mining, meaning that a specific game-theoretic network is implemented for the incentives, and more than 50% of the hash rate is allocated to the root chain to protect transactions from double-spending attacks. 

To prevent centralization horizontal scalability is implemented on the network to avoid high node prices with the increased number of TPS. It means that on Quarkchain multiple cheap nodes are allowed to form a cluster to replace a super-full node.

The network also supports different consensuses (PoS and PoSW) and transaction modes (including virtual machines, for example, EVM), ledger, and token economics on one network and in every shard to meet any requirements of different enterprises, industries, and apps. The team plans to add more consensuses in the future. 

QKC, Quarkchain’s native coin is an ERC-20 token deployed on the Ethereum testnet and supported by any ERC-20 compatible wallet including Trezor and MyEthereum.