QuarkChain – The Latest Budding Blockchain Looking To Dethrone Ethereum
QuarkChain is the latest entrant into the blockchain domain that is working to create a highly scalable and secure blockchain which can handle up to one million transactions per second using a two-layered blockchain system. They are seeking to bring crypto to a wider mainstream audience and will support smart contracts with Ethereum Virtual Machine (EVM). This means developers will be able to easily port and deploy dApps built on Ethereum onto QuarkChain once their mainnet is live which could make QuarkChain a serious contender right out the gate.
Scalability has been integrated into the design of QuarkChain from the get-go and with this in mind they’ve set out to build a platform capable of supporting industries ranging from FinTech to gaming and social media. QuarkChain separates out these two primary functions with the use of a 2 layered system that allows for greater scalability:
- The first layer consists of “elastic sharded” blockchains; and
- The second layer has a root blockchain.
QuarkChain supports smart contracts with the use of Ethereum Virtual Machine (EVM), sharded blockchains therefore run their own smart contracts local to their blockchain via EVM. Sharded blockchains can be thought of as mini-Ethereum’s or clones of Ethereum running simultaneously and parallel to one another with unique individual wallets associated to them.