Bitcoin Code is a new blockchain project

16.8.2018 | 13:19

Quarkchain is a new blockchain project that aims to achieve a perfect balance between decentralization, scaling and security. With over 1 million transactions per second, the project should not only eclipse well-known blockchains such as Bitcoin and Ethereum, but also put transaction giants such as Visa and Co. in their pockets. An ambitious goal that is being tackled by the Quarkchain team. And the team, which consists of former employees of Google and Facebook, is impressive. More below.

Token, token price and presale
The QKC token will initially be an ERC-20 token. Since Quarkchain creates its own blockchain, however, the ERC-20 tokens are converted into tokens that are tailored to its own blockchain when the mainnet is launched.

At the private sale round of Quarkchain 16 million USD were collected for a value of 39416 QKC / ETH. At the ICO the course will be 31533 QKC / ETH. This resulted in a bonus of 25%. Unfortunately, there is only $4 million left for the ICO, as the hardcap should not exceed $20 million.

Token distribution and Bitcoin Code market cap

Taking the current value of $740 / ETH at hand, the market capitalization is over USD 200 million at QKC 10 billion at $0.023 each, which is unfortunately too high for us. The token distribution is thus also less than 20% for Bitcoin Code investors fortunately, however, the tokens of private sales are blocked for a certain period of time. For the first 4 months 10% of the tokens are released by the presale every month, then 20% / month. We have a plus point for that.

The overall score for the Quarkchain Token Metrics is 2.6/5 points.

Quarkchain project details

suggestion
Quarkchain wants to solve nothing less than the current blockchain trilemma. On today’s blockchains, all data such as account data, contract codes and transactions from all nodes are still validated. This ensures a high degree of decentralization and security/transparency, but it also severely limits the scalability of transactions per second. In short: The current blockchains are extremely slow. Despite Segwit implementation, Bitcoin only achieves about 12 transactions per second (tps). At up to 15 tps, Ethereum is also far too slow compared to visas and the like, which handle over 50,000 transactions per second. Increasing scaling in turn harms decentralisation or security… Our current blockchains are facing a trilemma!

While Bitcoin Code is now tryin

While Bitcoin is now trying a new approach with the Lightning Network, Ethereum is also developing various possibilities. But it could take years before the scaling problem is finally solved, because changes to an already running blockchain can only be carried out with great care and therefore take a correspondingly long time. With Quarkchain, a new Bitcoin Code project is now in the starting blocks, which, if the project succeeds, could take over from Ethereum and Co.

That’s how Quarkchain wants to solve the problems:
The biggest innovation is splitting the blockchain into 2 parts: A root layer and a so-called sharding layer:

Many small blockchains (shards) process a part of all transactions every second, while a large blockchain (root blockchain) uses a proof-of-work method to combine the block headers of the individual shards into a “large” block and back them up on the blockchain every minute.
Source: https://www.quarkchain.io/

Many other mechanisms such as collaborative mining, node clustering and a hybrid proof of work procedure are to ensure not only scaling but also security and decentralization. Smart contracts should also be able to be executed via Quarkchain, which paves the way for decentralized applications.

Allgemein, Quarkchain

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Bitcoin plunge – Important $6,000 support zone must hold

6.8.2018 | 13:19

The entire crypto currency market is suffering tremendously today. The Bitcoin course is currently facing an important support zone that must withstand to prevent another crash of the price.

Bitcoin Price Highlights
Bitcoin’s share price did not gain and broke through several important support zones
Bitcoin is currently under strong sales pressure and approaching the important $6,000 support area
The descending channel is still intact and one approaches the channel center
Technical indicators Signals
The 100 SMA is below the 200 SMA to show that the path of least resistance is down and thus the selling pressure is still present. The bitcoin is currently taking a hit and is around $6,100 with another negative outlook. It looks like they’re testing the important $6,000 psychological support level last reached in February. If BTC breaks through the important support, the price will fall in the next few days, towards channel support at $5,200. As already mentioned in the last technical analysis, the RSI has not been able to break above the 61 mark for days, so that there is still a lack of decisive buying dynamics. Currently, the 4-hour chart’s RSI is at 20, reaching oversold territory, signaling that selling pressure may ease in the near future. The MACD is again in a declining zone. Bitcoin is still in the descending channel and has reached the channel center with today’s “crash”. As already mentioned, the $6,000 support zone is important to avoid further panic selling and a crash towards $5,000.

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Bitcoin Chart from TradingView

The explanation of the terms of the technical analysis can be found under this link.

Note: This is not a buy recommendation but merely the opinion of the analyst. Technical analyses do not guarantee success in trading. Crypto currencies are a high-risk investment, even a total loss is possible. The losses can also have long-term health effects.

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