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QuarkChain Weekly AMA Summary-07/27/2019

QuarkChain has been holding its bi-weekly AMA (Ask Me Anything) on Telegram/Wechat groups on Saturday, from 7–8 PM PST. This is the summary for AMA from last week. We are always happy to take questions/comments/suggestions.

Part 1: Marketing Questions

1: I am quite interested in the Casino event that the Korea team attended. Can you share more details about how can QuarkChain help casinos? How these two industries can work together? It would be very interesting if the project gets a partner from the gaming industry.

QuarkChain was invited to Korea’s first Casino Conference, CIRS(Casino Integrated Resort Show) Asia, as one of 4 speakers. We have witnessed the growth of blockchain gambling industries while land-based casinos have suffered from little to no growth in Asia regions. Also, we have found out monthly average gambling amount of blockchain gambling far exceeds online gambling for its edge in blockchain-based easy cash in cash out and fairness. We have proposed a total solution from QuarkChain scalability and flexibility, future privacy shard, wallet development, stable coin solutions, and game development to create an easy entry, a new source of revenue, and a scheme to incentivize visits to Land Based Casinos.

Our findings and solutions were very welcome and now we are currently engaging several online gambling, land-based casinos, and machine manufacturers who are interested in entering and utilizing blockchain technology.

2. Is Binance support your token swap campaign?

We are finalizing the technical details, especially the security model of the network. Token swap will happen after July 30, and we are preparing for that. Different exchanges will have different schedules.

3. Will the swap be traceable through ledger? like will a 3rd party identity be able to see that x ERC-20 address has been swapped for QKC mainnet address?

Every transaction is public in both the Ethereum network and QuarkChain network.

4. QuarkChain will participate in web3, can we expect local meet up? Many people want to meet the team!

Of course! Would love to meet local people in web3. Details will be given soon!

Part 2: Technical Questions

1: Can we run the CPU miner outside cluster? like home pc?

If the “ouside cluster” means mining without running a cluster, you may use a pool. In addition, you may only mine shard 6–7.

2. What is the status of the real adoption of the QuarkChain? Is there any 3rd party DApps in development. I am interested in any info about the coming DApps.

The first adoption will be the token swap, which we are actively working on it with major exchanges. In addition, we have plenty of ecosystem partners, for example, UDAP was just listed in PIEXGO, which used QKC as IEO token and will work on QKC either.

3. I saw QuarkChain added NEW functions: Supported cross-shard smart contract invocation and creation. Is QuarkChain the first one to support a cross-shard smart contract? It’s a huge update! why smart contract creation is important?

This allows a user directly creating a smart contract on other shards without moving the balance. This greatly simplifies the wallet when dealing with cross-shard transactions.

To my knowledge, we are the first one to support user calling/creating the smart contract in this way. Future, we are working on a smart contract calling another smart contract with async messages. The topic is discussing in ETHresearch and Vitalik also joins the discussion https://ethresear.ch/t/solving-train-and-hotel-problem-with-asynchronous-message-and-await-async/5836

4.
1)Are the transactions and funds in the shard possibly lost, when a shard is compromised?
2) Is there a lower limit of nodes for shards?
3) If not, doesn’t this make shards easy to be compromised by a third party?”

1. In our current design, all nodes run the full cluster and check all the transactions, which means a shard is compromised if the network is also compromised.

2. The number of nodes for shards equals to a number of clusters right now. We may support light-client so that a cluster only serves a few shards, but that shouldn’t be the issue as long as there are sufficient nodes in the network run as a full cluster.

3. As a result, currently, it is impossible to compromise the shard unless the network stops running.

5. Will QKC interact with only ERC20 tokens? Or will it interact with other token standards like ERC721 and ERC1155 as well?

Not sure what is the meaning of “interact with only ERC20 tokens”. We support the latest EVM, which means that we could support ERC20, ERC721, and ERC1155 easily.

6. In the QuarkChain network, only root Chain has a copy of the entire Blockchain history or any shard also has one?

Root chain and all shards jointly own the full copy of the entire blockchain (which is brought by the concept of state sharding. The root chain only describes the canonical chain by including block headers. As a result, we could greatly save the space for a single node that stores the whole ledger and put the ledgers to multiple nodes (in a cluster)

7. PoSW and DPOS are similar, but what are the advantages of PoSW?

Actually, they are quite different. DPoS limits the size of the network (e.g.EOS has only 21 nodes), which is criticized for centralized, while PoSW allows anyone to join the network. In addition, PoSW still requires mining and the network is secured by the hashpower of the network. While in DPOS, as long as the 21 nodes may work together to do bad things, which seems to be a small number. In all, PoSW provides a more decentralized blockchain and enjoy the most benefits of PoS and PoW.

8. Why QuarkChain has adopted sharding technology than the sidechain? Sharding makes the network less secure.

In fact, sharding can be more secure than sidechain, as the rootchain will recognize shard chain consensus and blocks and protect it in our network, while sidechain’s security is not protected by the mainchain. In addition, performing the cross-shard transaction inside chain is more difficult (and less efficient) than sharding

9. It’s really nice to see EVM upgraded to Ethereum’s Constantinople hard fork! what’s the next update?

The next step will probably implement something such async messaging or other features that are researching (such as from ETH2.0)

10. QKC already achieve ETH 2.0’s goal, even have more function than ETH 2.0 such as cross- shards function, can we say QKC is more useful, can help more industries and solve their problems?

I believe so. And I am also quite surprised that the network runs so stable these days.

11.
1) What will happen with 815M QKC on mainnet? Does it look like that DEVs are using them to mine with lower diff gaining the advantage over small miners?
2) When the advantage of lower mining different for guardians will be taken away so that everyone can mine on the root chain?

  1. The lower difficulty comes from PoSW, which we have announce the details of PoSW several weeks ago. Anybody is able to benefit from the staked QKC for mining.
  2. Everybody could mine root chain now, and we need some hashpower so that the network is secure. We will move it to PoSW hopefully within this year so that everybody can stake and mine root chain.

12. Which will be the next step for Quarkchain?

The next step will support the latest EVM with cross-shard smart contract call/create. For the long term, we are working on new shards, which will disclose the details later.

Website
https://www.quarkchain.io

Telegram
https://t.me/quarkchainio

Twitter
https://twitter.com/Quark_Chain

Medium
https://medium.com/quarkchain-official

Reddit
https://www.reddit.com/r/quarkchainio/

Facebook
https://www.facebook.com/quarkchainofficial/

Discord
https://discord.me/quarkchain

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