As many of you already know, there is a weekly AMA (ask me anything) on Telegram/Wechat group every Saturday, from 7-8 PM PST. This is the summary for AMA of last week. We are always happy to take feedback and answer your questions. See you all this Saturday!
Part 1: Marketing Questions
Q: Could you please tell us more detail about QKC Ecosystem Fund? It didn't mention before till the article regarding "9 projects accepting QKC in ICO" publicized? If partners will accept QKC for payment will there be bonuses?
A: The purpose of establishing the fund is to help new projects to be quickly developed and deployed in QKC ecosystem. We plan to have more funds to support and incubate our eco-partners. Our funding plans are tailored for every partner and thus one may contact them directly for more details.
Q: Do you have any partnership with Certik? According to industry point of view, what features Certik can look into QuarkChain which Certik cannot find in Zilliqa and how will it help them?
A: Yes, we are glad to build a partnership with Certik and they will help us do the audit. About the unique features compared to Zilliqa, we summarize the following two main things: 1) EVM and possible other VM's that are Turing complete; and 2) State sharding that a node only stores part of the data and help scalability. Please check our testnet 1.0 which released on July 9 for more features of QuarkChain.
Q: All credible projects open-source their code, so I understand QuarkChain promised to open source your code. Could you give us an exact date? Because without a solid answer, this project is going to be more suspicious. And does the part of the code of QuarkChain refer to the code of Ethereum? If the answer is Yes, I thought QuarkChain should be open-sourced rather than giving us a vague answer because Ethereum uses GPL license, which means QuarkChain might have some legal liability.
A: We plan to open source, but cannot provide the exact date at this moment since there are too many factors. Another concern is if we open source now, we may create many direct competitions. Currently, we use pyethereum, which is MIT license, and the MIT license doesn't have open source liability. To keep our community members updated, we have published weekly progress reports and launched a live testnet.
Part 2: Technology Questions
Q: As far as I know, ETH planned to move away from Solidity in the future and Zillqa also decided to offer better language (Scilla) than Solidity. Why would you still decide to use Solidity? What are the advantages of Solidity compared with the others? If there is more improved language in the future, do you plan to add it? Moreover, if you read right, Scilla is a plaster to fix the security issue, a common language is the only way to go.
A: We don’t have such a plan. QuarkChain is language-agnostic and it supports all languages running on top of EVM. To our best knowledge, Scilla is not Turing complete while solidity is and Vyper from Ethereum also aims to fix security issues. At this point, it’s hard to argue which language is better. However, personally speaking, I’m more confident in EVM since it has been running for a while compared to other smart contract platforms.
Q: How is transaction speed related to TPS? Will QuarkChain has higher TPS after the launch of the mainnet?
A: Transaction speed depends on many elements such as the throughput capacity of one system and finality time, which depends on consensus. QuarkChain’s high TPS guarantees transactions can enter blocks quickly and be handled in time. About the mainnet, it will have more features than the current testnet as scalability is just one factor of a blockchain. We are working on it right now. As you already know, QuarkChain is the first project to give the live demo of testnet where we have reached 14k+ TPS. In our mainnet, the number of TPS will reach 100K. Moreover, the hash power will be distributed evenly within shards, which guarantees every shard will have the same mining probability. Thus, TPS will increase with the number of shards.
Q: What does Collaborative Mining of QKC means?
A: QuarkChain Network has several minor blockchains (shards) and one root blockchain. Each blockchain offers different incentives and difficulties. Miners could choose any blockchain at an optimal price of their hash power. This creates an open market economic model, where a blockchain is a seller with goods being the block reward, while a miner is a buyer with hash power being their currency. It is desirable that a marketing model is designed with features ensuring that though each party in the market pursues their own interests, the collective behaviors of each party can benefit all. The goal of collaborative mining is to design incentive mechanisms and difficulty algorithms so that
(1). Hash powers are incentivized to distribute evenly among shards. This ensures that all shards are mined evenly and thus the system throughput (i.e., TPS) increases as the number of shards increases.
(2). The root chain has a significant large portion (over 50%) of hash power over the whole hash power of the network. This prevents double-spend attacks, and a malicious miner needs at least 50% * 50% = 25% power to perform an attack.
FYI:
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Thank you for reading the AMA Summary of this week! The QuarkChain community appreciates your support!
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