QuarkChain is quite possibly one of the most highly anticipated projects this year, with claims of 100k TPS using a sharding technique they ICO sold out immediately. QuarkChain is one of our personal investments in our cryptocurrency fund which you can track the progress of here. And now in some big news the QuarkChain testnet is now live & has already hit 14.7k TPS.
What is QuarkChain
“QuarkChain is a high-capacity peer-to-peer transactional system.” “It is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. It provides a secure, decentralized, and scalable blockchain solution to deliver 100,000+ on-chain TPS.”
What does this mean in simple terms? This means that QuarkChain will be directly focused on a peer-to-peer payments solution which will not only rival Bitcoin, Ethereum and many other cryptocurrencies, but §they will also be rivalling the likes of Visa and PayPal. The global-wise commercial standard right now is set by companies such as Visa, their systems can supposedly handle up to 50k TPS (transactions per second). While the actual number may be less, they allow their systems to handle more so as to cater to the global standard of fast transactions. Right now one of the major issues with blockchain technology, is the ability to scale blockchains to be able to handle greater amounts of users and larger volumes of transactions.
In an exciting update, QuarkChain have released their testnet 1.0, which saw the price of QuarkChain (QKC) increase by around 20% following the launch. The result have not disappointed either, with the most recent test result returning 14.7k TPS and all of their public demonstrations have yielded results above 10,000. It seems that excitement is starting to grow around this project and although the promised 100k is some way away it is looking more achievable.
The good news does not stop there for QuarkChain supporters, the public version of the testnet 1.0 is live today, although no time has been announced you can check it out here. This will give the rest of the public the chance to test out the QuarkChain wallet before the launch of the mainnet. Which is expected to be launched in late December 2018 /early January 2019.
QuarkChain is one of the biggest parts of our cryptocurrency portfolio and you can track the progress of our entire fund in our official Telegram channel.