QuarkChain

QuarkChain operates as a permissionless blockchain architecture engineered to address the prevalent issue of scalability in the blockchain domain. Founded in 2018 by Qi Zhou, the company is headquartered in Palo Alto, California. Zhou, who holds a Ph.D. in Electrical and Computer Engineering from the Georgia Institute of Technology, brought experience from software engineering roles at major tech firms like Google and Facebook to this venture. He was joined by Zhaoguang Wang, an expert in distributed systems with a background at both Google and Facebook. The firm's inception was marked by an Initial Coin Offering (ICO) in June 2018, which successfully raised $20 million.

The core of QuarkChain's business is its high-throughput, dual-layer blockchain structure. This architecture consists of an elastic sharding layer and a root blockchain layer that confirms the blocks from the shards. This design aims to achieve high transaction speeds, targeting over 100,000 transactions per second (TPS), without compromising decentralization or security. The platform is designed to be flexible, supporting multiple consensus algorithms, including a hybrid model called Proof of Staked Work (PoSW), as well as various transaction models and token economics within its network. This makes it suitable for a wide range of applications, including high-frequency trading, gaming, and the Internet of Things (IoT).

QuarkChain's business model is centered around its native utility token, QKC. This token is utilized for transaction fees on the network, as a means of exchange between participants, and for staking in the PoSW consensus mechanism to secure the network. The platform is compatible with the Ethereum Virtual Machine (EVM), which allows decentralized applications (dApps) built for Ethereum to be deployed on QuarkChain, potentially benefiting from its higher throughput. The company generates value through the utility and adoption of the QKC token within its ecosystem, which serves developers and users of dApps requiring high scalability. Key milestones include the launch of its testnet in 2018, the mainnet in 2019, and the mainnet 2.0, known as "BigBang," in 2021.

Keywords: QuarkChain, QKC, blockchain scalability, sharding technology, high-throughput blockchain, decentralized applications, dApps, Qi Zhou, Proof of Staked Work, PoSW, Ethereum Virtual Machine, EVM, dual-layer blockchain, permissionless blockchain, cross-shard transactions, crypto, Web3, mainnet, testnet, ICO, utility token