QuarkChain

What is QuarkChain (QKC)?

QuarkChain seeks to become an innovative and permissionless blockchain-based architecture that utilizes sharding technology to offer an infrastructure that is flexible, scalable, and user-oriented.

Vision and Purpose

To elaborate on what we mentioned earlier, the project aims to meet those commercial standards globally by offering a public chain that can deliver on-chain up to 100,000 TPS (transactions per second).

The scale, affordability, and speed resulting from this will be what makes QuarkChain ideal for various applications, including the likes of high-frequency trading, payment, IoT (Internet of Things), gaming, and decentralized social media, among other things.

Need For a Solution Like QuarkChain

The ever-increasing transactional volumes of electronic payments across the world can be quite a lot for blockchain-based networks and their current capabilities.

Mass cryptocurrency adoption will therefore necessitate a substantial increase in blockchain scalability, which is why the need for blockchains like QuarkChain, which emphasizes scalability, is becoming ever more apparent.

Key Peoples Behind Its Inception

The key individual behind the formation of QuarkChain is Qi Zhou, who is also its CEO. Once he graduated from the Georgia Institute of Technology and acquired his Ph.D. in Electrical and Computer Engineering, he worked at Dell EMC, Google, and even Facebook before founding QuarkChain.

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QuarkChain’s Core Features and Technology

Within this section, we will be looking at some of the blockchain technological aspects that QuarkChain caters to or has adopted for itself, namely sharding and a dual-layered architecture.

Dual-layered Blockchain Structure

QuarkChain is dual-layered. What that means is that it has incorporated two layers into its architecture. Its sharding solution, which it refers to as elastic sharding blockchain, or just shards, is integrated within the first layer, and as for its second layer, it comes with a root blockchain that verifies the blocks processed within that first layer.

However, the second layer has also been made flexible so that it may be resharded as required without having to alter the root layer.

Sharding Explained

Within the blockchain sector, sharding entails dividing blockchains into smaller, more agile networks that can manage substantially more transactions.

The Origins of Sharding

While the name may not have been widely attached to the concept, the concept of sharding has been around for probably as long as databases have existed, as far back as the late 1960s or early 1970s. However, within the context of blockchains, the first blockchain to have adopted sharding as a scaling mechanism was most likely Zilliqa.

Why Sharding is Revolutionary

Breaking a blockchain up into numerous shards enables parallel transactional processing, enhanced latency, and scalability.

This is largely because the computational burden of the network in question can be substantially decreased, and more transactions can then be processed within any given period.

With this, if blockchains and cryptocurrencies were to be adopted in the mainstream, they would be able to meet the demand without being overburdened.

Benefits of QuarkChain

Here, let’s briefly discuss some of the advantages that come with using QuarkChain as your go-to blockchain.

Enhanced Scalability and Throughput

Better scalability and enhanced throughput are definitely more obvious because of how it has implemented sharding, which are important advantages to strive for since they are instrumental in advancing the cryptocurrency sphere.

Inherent Security Features

Secondly, by distributing that workload and data throughout several blockchains, sharding can improve the resilience and security of the entire network since it becomes increasingly difficult for malicious individuals to disrupt or compromise a substantial portion of the network’s nodes.

In other words, sharding may increase decentralization, which further adds to the network’s security.

Cross-shard Transactions

QuarkChain natively facilitates cross-shard transactions. These transactions can essentially transfer balances from one account within one shard to a different account within another shard. This, in turn, plays a role in increasing the throughput of the network, making sure that transactions are processed within a matter of minutes, which can help make them more affordable as well.

The QKC Token

Here, we will now shift our focus toward its native token and go over some of the roles it plays within the ecosystem it is based.

Purpose and Utility

Its native token, i.e., QKC, serves an integral role in the functioning of the entire network.

For instance, like any other blockchain nowadays, it is used as a means to secure the network through staking and is also used as a form of payment, especially with regard to fees and rewarding validators.

Allocation and Distribution

The total supply of the token is exactly 10 billion, and as far as allocation or token distribution is concerned, 45% of it has been allocated to mining, 10% to token sale, 15% each to both the team and the foundation, and finally 5% has been allocated to other groups, at least according to what we have gathered from CryptoRank.

How To Buy QKC Tokens On Binance

Now, if what we have discussed about this token has gotten you looking into it, then we will discuss how you can buy it on the largest cryptocurrency exchange in the world, Binance.

Creating a Binance Account

To start with, you will need to create an account on Binance first, assuming you haven’t already done that yet. So, click on the link below, which will take you to Binance’s Registration Page with a special Coin-Labs referral code.

On the registration page, you will have to fill in a couple of details, like your email address, password, email verification code, etc. Once done, you can move on to getting your newly generated account verified.

Why is KYC Crucial?

KYC, or Know Your Customer, is a vital procedure that is used to maintain the safety and integrity of the exchange. It is a means to comply with regulatory requirements with regard to counter-terrorism financing and anti-money laundering.

In other words, the primary objective here is to reduce the likelihood of firms or individuals using this asset class as a way to commit financial atrocities. So, to get done with KYC on Binance, simply head over to its verification page and add in whatever is asked of you about your identity.

Securing Your Binance Account

Next comes securing your account to prevent the likelihood of unauthorized access, and Binance has you covered in that regard with its 2FA and biometric scanning options.

So, to set both of them up for your account, simply go to its security page and follow the instructions that will be outlined by Binance to get done with the setup, which won’t take that long.

Depositing Funds Into Your Account

Now that your account has been secured, you can move on to depositing some funds into it, which you can then use to engage with the plethora of buying and selling services you will find on Binance. Consequently, start by heading over to Binance’s deposit page.

Over there, select a token and then the network for it. This should result in the generation of a deposit address, which you can then paste into the platform you wish to make the transfer from. It could be a wallet or an exchange.

Navigating and Placing an Order

Once your account has been funded, you can now use the numerous options that can be found to buy what you want. These may include spot, futures, and copy trading, as well as just swapping whatever has been deposited within your account for those tokens.

So, from its homepage, select your preferred option and place an order for some QKC tokens, which might take a while to fill, depending on the type of order you have chosen. Market orders, for instance, will be executed immediately.

Transferring QKC to a Personal Wallet

After your order has been completely processed and you are looking to transfer those funds you just acquired into your wallet, head over to Binance’s withdrawal page. Select the QKC token as the one you want to withdraw, choose the network, and then paste your wallet’s address inside the appropriate field. 

Confirm your withdrawal then, which, depending on network confirmations, might take a while to arrive in your wallet.

Future Roadmap and Plans

In recent years, QuarkChain has been transitioning towards becoming a Layer 2 project on Ethereum.

Moreover, it is even looking to collaborate with the ecosystem of Ethereum to address its various scalability issues.

Other than that, however, this transition is also a result of its careful research and how it seeks to enrich its ecosystem through such an implementation.

Hence, you can expect a ton of important and exciting partnerships or collaborations in the future, which, in turn, may have a positive impact on its growth.

Conclusion

This potentially innovative blockchain-based infrastructure that has been created by QuarkChain is representative of its take on addressing what’s known as the blockchain trilemma, which is a problem inherent to blockchains wherein the difficulty of maintaining three desirable aspects –decentralization, scalability, and security – is brought forward.

Hence, this dual-layered architecture and utilization of sharding technology may help with generating a high transactional throughput for QuarkChain, which could then further help it in its goal of meeting global commercial demand.

We Coin-Labs.com provides only objective information about QuarkChain.
Therefore, we are not responsible for the investment decision in QuarkChain and the resulting loss.

QuarkChain Basics

Here are some factors that investors should consider before investing in QuarkChain.

Cryptocurrency Features	QuarkChain (QKC)
Publisher or Developers
Headquarters (Registration Number)
Symbol	QKC
Platform
Published Date (CMC Registration)	2024-11-01
Max Supply	10,000,000,000 QKC

Reliability Score of QuarkChain in 2024

These are indexes mesuring the investment reliability of QuarkChain conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 3 Exchanges
Number of Available Pairs Worldwide	64 Pairs
Market Cap of the Cryptocurrency	65,770,989 USD (Rank #451)

The table above shows the result of investment suitability evaluation for QuarkChain.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

QuarkChain Price

Here are the price and recent trading volume of QuarkChain. (Data of 2024-11-02 00:35:00)

Price Items	Price and Trading Volume of QuarkChain
QuarkChain Price	0.008 USD
Price Change 24h	-0.05%
Price Change 7d	-4.35%
Trading Volume 24h	2,951,698 USD
Trading Volume Change 24h	43.73%

Cryptocurrency Metadata

You can check the development status and social media information of QuarkChain through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy QuarkChain

Here are the top ten world crypto exchanges where traders can buy QuarkChain in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/QKC_USDT?type=spot
Coinbase	Not listed
Kraken	Not listed
KuCoin	Listed	https://www.kucoin.com/ko/trade/QKC-BTC
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Listed	https://www.gate.io/trade/QKC_USDT

Frequently Asked Questions