21.8.2018 | 13:27
Using a specially developed Smart Wallet, users are to be able to execute transactions as well as to be processed as Smart Contracts.
We like the idea of Quarkchain very much. If their approach proves successful, the project could outstrip many blockchain projects. That’s why we give 5/5 points for the idea.
Market and competition of Bitcoin Trader
I don’t think we need to mention that the application possibilities for the Blockchain technology are gigantic. If the trilemma of decentralization, security and scaling is resolved, the blockchain technology Bitcoin Trader will affect all areas. However, there is a danger of “The Winner Takes All!” here. If a solution to the promised breakthrough were found, the majority of companies would most likely jump onto this blockchain infrastructure and the other projects would disappear from the scene. And there is a lot of competition in this area. In addition to the old hand Ethereum, new players such as Fusion or Zilliqa are also playing, who also want “THE solution” to be found. And unlike Quarkchain, some of them have already entered into partnerships with companies.
In the long term, only one project is likely to survive. Will it be quarkchain? Let’s have a look at the development status of the project.
We give 3/5 points for the market/competition ratio.
Project development and roadmap
Since March 2018 the first tests have been running on Testnet 0.1 at a speed of over 2000 transactions per second (for comparison: Bitcoin approx. 7-12 tps, Ethereum 12-15 tps.). In the next quarter, the first Smart Contracts on the “test site”. The Mainnet is to launch before the end of this year. However, experience and bitcoin code review so far has shown that it usually takes a little longer, which is why we expect the Mainnet to be launched at the beginning of 2019, which in our opinion is still a good value for a blockchain project.
Since the Quarkchain ICO only issues ERC-20 tokens once, which are later converted into their own tokens, we assume that the tokens are already listed on the stock exchanges before the Mainnet is launched. However, no information from the team is yet available. We assume that more information will appear before the start of the ICO.
Since the Github code and the Testnet of Quarkchain are not yet publicly accessible (hopefully before the ICO start) we give 3/5 points for the development. (We may upgrade this as soon as the Testnet and Github code are released)
As far as the roadmap is concerned, new updates are already available in the second quarter, which further increases the interest in the project. We can therefore well imagine that the value of the tokens could increase in the short term. However, it will be several months before the next major update, which could lead to a correction in the medium term. (Of course, the whole market situation has to be taken into account, which of course we cannot predict). In the long run it depends on whether 1. Quarkchain will find favour with his project and 2. the competition will not succeed in making a breakthrough even before the launch of Quarkchain. We have 4/5 points for the roadmap.
Quarkchain ICO Total Product Points: 4.2/5 points
The Quarkchain team has a very high level of expertise in the field of software engineering. Besides the founder, other employees were also employed at Google or Facebook for several years. Qi Zhou, CEO and founder of Quarkchain, has a high core competence in the area of sharing and clustering solutions on which Quarkchain’s idea is based.
To avoid fake profiles we searched for public appearances of the team as well as the LinkedIn profiles. Recently, the founder had conducted an interview with a crypto-currency influencer.
The team also made a presentation at this year’s GMIC Global Blockchain Summit in Beijing. It can therefore be assumed that this is not a fake project.
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Today at GMIC Global Blockchain Summit in Beijing!The topic of our scientist @YaodongYang8 speech is “High performance blockchain that can deliver hundreds oh thousands of Tps like visa by using sharding technology”
12:47 – 27 Apr. 2018
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The Quarkchain team is quite respectable, which is why we have awarded 4.5/5 points for our expertise.
In our opinion, the Advisor Board of Quarkchain is well distributed. There are consultants for various fields of activity.