In the current cryptocurrency ecosystem with all the advances made, why do you think there is a gap for Quarkchain to fill?

The existing blockchain systems still have a huge gap from the real application needs. On one hand, the mainstream blockchain trading system is slow to confirm, and it also faces scalability problems.

For example, Ethereum only supports 20 concurrent transactions per second (TPS). Once more people join the network at the same time, the number of transactions increases sharply, which will cause network congestion.

In addition, the existing public chain projects have different focuses. It is difficult to form a unified standard and the customization function is far from perfection. Generally speaking, any public chain is mainly composed of four modules: consensus mechanism, virtual machine, ledger, and token economics. At present, each public chain is a fixed combination, which can meet some needs from one or several specific industrial areas rather than others. Some teams or individuals are trying to take advantage of the merits from their own projects and prepare to enter a vertical field to solve problems. If the existing projects fail to fulfill their needs due to limited TPS or other consensus mechanisms adoption, they need to re-design these four modules.

However, difficulties and challenges also generate opportunities. If there is a new system based on strong transaction processing capabilities, it can easily incorporate new efficient consensus, better virtual machine, and customized token economics. Thus, for those who are interested in achieving breakthroughs in the blockchain field, this will be a great opportunity.

QuarkChain 2.0 aims to build a flexible and scalable infrastructure based on sharding technology that could incorporate state-of-the-art blockchain innovations, and satisfy the needs from a variety of industries.

Therefore, we are building not only a high TPS blockchain but also a flexible one. In QuarkChain 2.0, “flexibility” is highly emphasized. Based on sharding technology, QuarkChain can implement the customization of four core modules: consensus mechanism, virtual machine, programming language, and token economics. Different shards are able to adopt different elements, and the entire QuarkChain blockchain network is unaffected.