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QuarkChain News, a cluster-based node to release soon

Quarkchain news


The US-based Blockchain company is expected to release the next version of its core blockchain technology. QuarkChain 2.0 is expected to usher in a cluster based node that enables improved peer-to-peer transfer protocol, augmented support to increase more shards and also support different consensuses.

According to InWara’s Market Intelligence platform, Quarkchain’s latest update is expected to launch before June 30th.

Quarkchain News
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On April 30th, the QuarkChain had announced the official release of its main net V1.0 dubbed “Singularity”, just a year since its inception. The company had raised a whopping $20 million to develop its core technology in June 2018 — according to InWara’s Market Intelligence platform.

The total token supply was set for 10 billion QKC out of which 2 billion was available during the token sale. The spot price of WTC during its launch was just 0.00003 ETH, the company made tall claims of achieving 1 million tps but never reached that target. The total hard cap set for QuarkChain project was just $4 million but during its ICO — the company raised a whopping $20 million.

So since its inception how has QuarkChain’s QKC token performed? 

ROI graph of QKC token

Quarkchain News

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Following its Initial Coin Offering in June 2018, the Return-on-investment on QKC tokens was at a whopping 1646% but that number quickly dropped to dismal levels in 2019. By June 2019, the ROI on QKC tokens have dropped to -7.6%.

So what’s QuarkChain’s vision?

QuarkChain is a multi-faceted, permissionless Blockchain network that is designed to enable peer-to-peer transactions. It was created to address the critical scalability problems faced by Ethereum that nearly brought it to its knees. The company’s core blockchain network employs a technique known as sharding to enable interoperability between side chains and ideally should be able to achieve over 10,000 tps.

Quarkchain is often compared to the Zilliqa project by many in the crypto community as the latter also employs sharding techniques to augment interoperability between sidechains.

QKC the company’s native cryptocurrency is an ERC-20 token but is expected to convert to a proprietary crypto token during its Mainnet launch which is scheduled to be launched this year itself.

 

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