Among many networks trying to overcome the issues with Ethereum network scalability, Quarkchain stands out with its promising TPS results. It has already deserved the attention and approval of investors and the community with its daily trading volume reaching over $5 million. Read our QKC price prediction to see what opportunities investing in Quarkchain token can bring.
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QuarkChain Fundamental Analysis
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.
QuarkChain Live Price Chart
The price of the QKC token followed the general crypto market downtrend in the summer and at the end of June reached its lowest level of $0.0099 in the recent 6 months. After that price started to quickly recover and just 2 weeks later was traded for $0.016.
The bullish run of QKC continued till the middle of September, with the highest price of $0.027 achieved on September 4. But from that moment token went for a massive correction and in 3 weeks fell to $0.016.
From the beginning of October, the situation started to change drastically as QKC skyrocketed and reached $0.049 on October 8, but couldn’t maintain its high position for a long time and went down to the support level of $0.03 the next day. From there on QKC token price started to stabilize without massive uptrends or downtrends.
From November 18 to December 2 token was holding its position, but then followed a bearish trend and the price continues to decline until now. In the last week, the asset lost 34% of its value. But as this comes with the general pull off of crypto prices the long-term prognosis for the token is positive and experts think that its value might increase in the coming year.