What is QuarkChain (QKC)? How to Buy QKC Token in India?

What is QuarkChain (QKC)?

The distributed ledger technology of blockchains like Bitcoin and Ethereum has transformed almost every industry-Finance, communication, gaming, etc., paving the path for decentralized systems, but it also has limitations. They face the blockchain trilemma- that says blockchain has to sacrifice one of the three qualities: decentralization, security, and scalability to achieve the other two.

QuarkChain is a permissionless blockchain that aims to meet all these features, offering users high scalability while keeping security and decentralization. It does so through two-layer blockchain architecture and blockchain sharding technology, delivering high throughput of over 100,000 transactions per second. The QuarkChain ecosystem is backed by the native token QKC (ERC-20 based), which serves for network maintenance, payments, and governance purposes.

Who are the Founders of QuarkChain?

Qi Zhou, the present CEO, founded QuarkChian in 2018 with the objective of making blockchain architecture that meets global commercial standards. Its team members have a strong background in software engineering and distributed systems. Zhou holds a Ph.D. and Masters in Electrical and computer engineering from the Georgia Institute of Technology and has worked at Google, Dell, and Facebook as Software Engineer.

How does QuarkChain (QKC) work?

QuarkChain’s architecture divides its main functions between Sharding Layer and Rootchain Layer.

The elastic sharding layer comprises a list of minor blockchains called- shards, which independently process small subsets of transactions and create minor blocks. The system increases the number of shard chains as the network congests, thereby improving the blockchain’s capacity to handle more transactions. Next, the processed transactions are sent to the main Rootchain Layer, which confirms and creates root blocks. The root blockchain is based on the Proof of Work consensus mechanism and has high difficulty making reverting transactions economically inefficient, hence a more secure network. 

QuarkChain comes with in-built support for Ethereum Virtual Machine with Turing complete smart contracts. This allows developers to easily migrate existing Ethereum applications and protocols to QuarkChain.

What makes QKC Unique Use Cases?

• QuarkChain network follows Proof of Staked Work- a combination of two consensus algorithms PoW and PoS.
• It supports cross-shard transactions and allows users to access all shards just with one account rather than multiples. 
• It enables miners to participate in mining without joining mining pools, giving them earning opportunities and enhanced decentralization of the system.
• QuarkChain employs multiple cheap nodes instead of super full nodes, which reduces high transaction costs and also improves decentralization.

QuarkChain (QKC) Price Analysis

Source: TradingView

• QKC price today is trading at $0.009797, with a 24-hour trading volume of $5,289,580. In the last 24 hours, The QKC price has seen a drop of 3.19%, and its market cap is $62.69 million as of July 31, 2023.
• QKC price performed quite well in the first half of the year, but it recently touched a YTD low of $0.006836.
• It has displayed an impressive recovery, with its price rebounding by more than 50%. Given the current market sentiment, QKC price might rise upto $0.012 in the upcoming times.

How to Buy QKC Tokens in India?

To buy QKC Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, fund your wallet and buy QKC Tokens.