QuarkChain Weekly Project Progress Report: June 11 - June 17

Welcome to the 7th QuarkChain Weekly Report! For better communication, we’ll be updating our progress every week.

I. Great News about QuarkChain

This is the first month of QuarkChain’s Asian Tour. You’ll be seeing a lot about our activities in the upcoming month.

1.1 Kunming, China

On June 13th, QuarkChain scientist Yaodong Yang delivered a speech at our meetup in Kunming, China.

1.2 Beijing, China

Dr. Yaodong Yang also hosted a technical meetup on June 15th in Peking University to introduce QuarkChain’s high-performance transaction system and have an in-depth conversation with our community.

1.3 Seoul, Korea

On the same day, QuarkChain started its trip to Seoul with other blockchain companies including Drep, SciDex and Bodhi. Many special guests, community members, and Qi Zhou, the founder of QuarkChain, introduced QuarkChain as a new generation of public chains to Korean community members. This trip to Korea has been a huge success and helped us expand our community in Korea.

1.4 Shanghai, China

On June 17th, just two days after our Korean meetup, QuarkChain successfully held its first Chinese meetup during its visit to Shanghai, China which drew more than 300 participants. Investors, media, and community members from all over the world gathered in Kempinski Hotel and shared their understanding of new trends in blockchain technology. QuarkChain CMO, Yazhen Xiang; QuarkChain CEO and founder, Qi Zhou; the Co-founder of PreAngel, Lijie Wang; and the CEO of Covalent Chain, Le Kuai, all delivered brilliant speeches. Merculet’s Mengju Jing, Chain Capital’s Xiangmin Li, Bodhi’s Xiahong Lin, Wei Shen, the CEO of Tripio, Playtable’s Shengjie Zhu, Fenbushi Capital Ming Sun and many other influential figures in the blockchain industry were also in attendance.

During the meetup, QuarkChain’s CEO, Qi Zhou, delivered a speech about the technical development and ecosystem construction of QuarkChain. As everyone noticed, after the two generations of blockchain, scalability is still one of the main problems. Before 2008, tech companies like Sun, Oracle and EMC wanted to scale by building a single expensive machine to realize centralized scalability, known as “vertical scalability”. However, after 2008, tech companies such as Google and Facebook put forward a revolutionary approach known as “horizontal scalability” which increases machines horizontally and improves the performance of full-network using sharding. One advantage of horizontal scalability is that it scales easily as demands on the network increase. QuarkChain’s founder and core engineers are all experts in distributed systems of Google and Facebook and have carried this principle over into scaling distributed systems. This approach has made it possible to achieve more than 100,000 TPS without sacrificing decentralization and security. High throughput public chains will lay a solid technological foundation for high-frequency trading, advertisements, IoT, AI, big data, and gaming.

In the same meetup, Covalent Chain’s CEO, Le Kuai, discussed the problem of opaque information and the low-cost of integrity in the B2B field. Blockchain holds tremendous potential in decentralization, rebuilding relationships, and opening up data to the public. He also announced the technical partnership with the QuarkChain team.

During the final round-table discussions, QuarkChain’s CBO, Ting Du, Merculet’s Mengjun Jiang, Chain Capital’s Xiangming Lu, Bodhi’s founder, Xiahong Lin, Tripio’s CEO Wei Shen and Playtable’s Shengjie Zhu have sat together and brainstormed about how QuarkChain can help building ecosystems.

Several special guests have shared their opinions on how QuarkChain can help deploying ecosystem projects. They all gave great responses to Mr. Du’s question on “what are the possible applications of a high-performance public chain”:

Bodhi’s founder, Xiahong Lin said that having a high throughput system is crucial for prediction markets. Take the ongoing World Cup for example. It draws a huge number of soccer fans to buy match lotteries, which reflects a high-demand market in a high-performance web system. QuarkChain has an overwhelming advantage on high-performance infrastructure and he is looking forward to the launch of the main net of QuarkChain.

Playtable’s founder, Shengjie Zhu said that game experience can never be improved without the high-performance web. Playtable suffers a lot by game delay when developing their early stage products. However, after reviewing QuarkChain’s codes, Mr. Zhu said he was impressed by QuarkChain’s main network and believed it can provide Playtable with delay-free system support.

Wei Shen, the CEO and former Vice President of Tripio, said their platform needs to handle millions of transactions per second. QuarkChain’s technology lets them build a brand new travel ecosystem plan to ensure the safety, decentralization, and speed of online data.

Merculet’s Jiangjun Meng and Chain Capital’s CEO, Xiangming Li, said QuarkChain’s high-performance public chain is deployable in all fields of life and it has promoted the development of ecosystem of blockchain. Besides, QuarkChain is working on the basic public chain that can realize horizontal scalability, trans-chain and trans-block transactions, which will provide numerous opportunities for the whole blockchain ecosystem.

II. New faces

This week we welcomed Jingsong Wang from Silicon Valley to the QuarkChain family as a new engineer. Jingsong worked at Instagram as an engineering manager for Instagram's messaging product. The team he managed built scalable messaging infrastructure to support billions of messages on the platform. Before Instagram he worked at FiveStars as the founding engineer, scaling the servers to support millions of requests and growing the engineering team from 1 to 15. Jingsong is also an active crypto investor in his spare time. With tons of software development and startup growing experience he will play an essential role in the QuarkChain team.

III. Strategic Partnership

After strategic partnership with Drep, PlayTable, SegmentFault, Charter and Morpheus Labs, QuarkChain has built partnership with more companies this week.

3.1 QuarkChain and Covalent Chain have formed a long-term technical partnership
Covalent Chain is a business data platform based on QuarkChain technology and will build a new trading ecosystem for high-efficiency information exchange and secure data sharing in the B2B field.

3.2 QuarkChain and LendChain have formed a long-term strategic partnership
LendChain is a distributed digital finance platform providing financing, investment, and insurance services to digital asset holders. LendChain’s professional team provides customers with mortgage and credit financing service of BTC, EHT, EOS GXS and multiple fixed and floating income investment products.
LendChain believes that their partnership with QuarkChain will help both sides develop the market and promote the public chain revolution.

3.3 QuarkChain and Tripio have formed a long-term partnership
Linking global traveling providers and consumers with blockchain and starting with traveling accommodation booking service, Tripio has established a zero-commision traveling service ecosystem based on trust and encouragement.

3.4 QuarkChain and Bohdi have formed a long-term partnership
Bodhi aims to build a credible, autonomous, and global prediction market. This platform will allow users to create and trade on the outcome of finance, sports, politics, and any other type of events that are publicly verifiable. Bodhi’s innovative “replaceable oracle” mechanism, powered by Bodhi’s digital token (BOT), will enhance the reliability of the prediction market’s decision-making process.

3.5 Qi Zhou, the CEO and founder of QuarkChain, has been agreed to be an advisor to DREP

Drep believes that working with QuarkChain can stimulate communications between blockchain and Internet, which will be quantified and monetized in the long term. They also said it’s an honor to have Qi Zhou, a blockchain expert, join them and they strongly believe that the collaboration with QuarkChain will make more projects deployable and will promote the development of both companies.

IV.Development Progress

During the past week, we have made a great development progress:

1. We have integrated and tested the support for Ethereum smart contract. In addition, we made UI changes to the testnet UI to support smart contract deployment and invocation.
2. The development team has released the alpha version of JSON RPC interfaces to testers and early developers. The released features include sending transactions (including smart contract deployment and invocation), getting transaction details and receipts, checking network status, getting block details.
3. The testnet web server and blockchain servers are dockerized which becomes the first step towards large scale deployment.
4. P2P network has been developed and integrated so that clusters can form a P2P network upon start.
5. We have improved the mining program to reduce the stale blocks in the network so that hash power can be better used towards mining useful blocks.
6. We also improved the stress test program to better simulate the real environment by submitting millions of transactions to the network simultaneously.

Thank you for reading the 7th QuarkChain Weekly Report! The QuarkChain community appreciates your support!

We welcome you to join the QuarkChain community for discussion.
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