QuarkChain participated in a forum hosted by Tsinghua University Student Blockchain Association, sharing experience in building high-performing public chain

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On the evening of October 23, 2019, the forum titling “High-performance Scalable Blockchain and Its Application in the Network”, hosted by Tsinghua University Student Blockchain Association, concluded successfully. Ping Ke, head of research and technological development at QuarkChain, was invited to participate in the event and talked with the audience with the theme of “high-throughput heterogeneous blockchain technology”. After his speech, he also communicated with the blockchain enthusiasts at the venue.

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This event centered around the topic of high-performance blockchain network: through the rapid development of blockchain technology, its distributed data transmission network gradually matured and blockchain became the emerging technology hot spot after big data and artificial intelligence. However, there still exist problems such as a limited number of transactions (TPS) that can be supported per second in the blockchain public chain and the performance bottlenecks due to increase in the number of nodes. At the same time, since scalability is not good enough, virtual machines, encryption algorithm, consensus and so on will be difficult to change after the configuration, which makes present public chains difficult to adapt to future needs.

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Targeting to answer these questions, Ping began by introducing the security and performance issues of the existing public chain and then introducing the Boson consensus, pioneered by QuarkChain. It is a class of consensus algorithms based on hash power distribution. Hash power adjustment mechanism enables the hash power to be distributed among the shards flexibly. Technique to reuse hashpower is developed to protect the newly added shards where the hash power is limited. This technique, when used, can enhance the security of the entire network. At the same time, Boson Consensus also allows a flexible deployment of the economic income of the whole network calculation model, through the “tax” to deploy the benefits of the entire network. Higher hash power will concentrate in the user-verified network transaction root chain. This gives the entire network a high anti-aggressive, flexible sharding architecture, as well as multi-native token functionality.

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After the speech, Ping also chatted with other guests related to blockchain technology and its underlying design and function. In the future,QuarkChain team will step into campus more and take the opportunity to converse with these brilliant young minds who are deeply interested in blockchain technology.

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