QuarkChain, which has been on the radar for a number of token investors for a while now, has finally announced the details of its public token sale. Well, sort of – the exact dates are still to be confirmed as they will depend on the turn-around time for KYC applications.
QuarkChain has built a strong following – its Telegram group numbers over 39,000 – with little marketing. Many hopeful investors were disappointed to learn that the project will now only be raising $4 million from the public sale, having already secured the remainder of the $20 million it is seeking via private donations.
Social Media Indifferent
Individual contributions will also be limited based on when a participant joins the whitelist, their contribution to the project and their understanding of the product. The announcement also made it clear that social media shares mean nothing to the team, adding, “we do NOT promote unnecessary social media Proof-of-Care competition.”
Despite limited tokens being made available, thousands of investors joined the whitelist immediately after the announcement. The whitelist closes on 5th May, after which the KYC process will take about two weeks. The token sale should, therefore, take place in late May, and judging by the market response is likely to sell out in minutes.
QuarkChain is building a high capacity peer-to-peer transactional system. The blockchain will be based on two layers – a sharding layer will allow for high throughput by distributing data, and a second root layer will confirm the blocks added by the first layer.
The testnet has so far managed to process 2,000 transactions per second, and the team believe by the middle of 2019 they will be able to process 1 million transactions per second.