Quarkcoin Announces Big Internal Changes

June 10, 2014 10:43 UTC

Quarkcoin developers have announced that big changes are coming to their coin’s infrastructure. In an announcement, James Z., webmaster at qrk.cc and quarkfoundation.cc, stated that he and a team talked with creator Max Guevara and his partner Adam about the future of Quarkcoin in an IRC chat.

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[dropcap size=small]Q[/dropcap]uarkcoin claims to be the most secure coin in cryptocurrency, stating that is has 9 rounds of hashing from 6 different hash functions. It runs on the same protocol as Bitcoin, Proof of Work, SHA256, but claims transaction speeds of 30 seconds.

In the announcement, James stated that he, Julie, McPhervi, Kolin and Alpha, chatted with Max and Adam on IRC. James laid out everything he, the team and the creators spoke about and planned for with regards to the future of Quarkcoin:

    • A wallet update that holds security features of Bitcoin 0.9.
    • A redesigned new wallet based on Bitcoin 0.9.1.
    • Protecting or upgrading the nodes and creating fallback nodes in case one goes offline. This idea was visited, but also risks causing a fork in the chain.
    • James and the team have a direct line of communication with Max & Adam.
    • Max stated that he will still be working on Quark.

James and team-member Alpha will also have full admin rights of forum.qrk.cc, which they hope will become much more active in the future. James sparked conversation over their current forum that contains ads, and whether or not the community wants to migrate it elsewhere or not.

Along with this, James made a statement on confirmations and double spending. “If an exchange holds a minimum of 12 confirmations, the site is safe and doesn’t have to worry about double spending due to the checkpoints that are integrated into the system,” he said.

McPhervi, a member of the Quark Foundation, chimed into the conversation to expand on a few points of discussion.

“It was a very productive conversation yesterday with our developers with several key agreed upon plans that should allow us to endure,” McPhervi said, “One point I will clarify – the seed nodes. We specifically discussed having fallback check-pointing nodes established in the case that the original checkpoint node is attacked or compromised. This would prevent someone from DDOS attacking the first check-pointing node and then attacking the network while the check-pointing is disrupted.”

The team also discussed the future of Quarkcoin in regards to anonymity. It seems that Quarkcoin is very concerned with hiding the transaction record because of the threat of large pool owners being able to double spend with no transaction record or public ledger to detect fraud. “This is really important considering this recent news with Bitcoin where it is probable that they have actually been 51% attacked with double spends,” team member Kolin stated.

“Hiding this exposes the coin to serious risks,” McPhervi says, “We can evaluate other alternatives for anonymity going forward.”

Julie, one of the team members that participated in the IRC chat, left reassuring words for everyone about the future of Quarkcoin, “Be patient. Everything goes in cycles. Community participation is key. We should be focused on spreading the word about the good aspects of Quark, and getting merchant adoption.”

The announcement seems the address some serious transformations in Quarkcoin, and these changes may be added to their list recent successes. One of the most interesting parts of Quarkcoin is that it sets itself up to be closer to Bitcoin 2.0 than any other altcoin on the market. With the increased security and speed, but the original protocol of Bitcoin, it seems to be a great step in refining the already popular Bitcoin.

I do not own any stake in Quarkcoin, but I’m a firm believer that competition betters all competitors. Altcoins are only successful if they bring something new to the table for cryptocurrency; something the world hasn’t seen. From the outside, Quarkcoin seems to be making serious developmental ground in the cryptocurrency world.

Last modified: October 8, 2019 12:12 UTC

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