Quark
Quark is an alternative cryptocurrency which aims to improve upon Bitcoin by increasing its security and transaction speed.
Contents
Key parameters
- No pre-mine
- Very secure hashing: 9 rounds of hashing from 6 hashing functions (blake, bmw, groestl, jh, keccak, skein). 3 rounds apply a random hashing function. (cPoW)
- CPU / GPU mining
- Average block generation time: 30 seconds
- 2048 QRK per block (halving every 60480 blocks ~ 3 weeks)
- Block reward never drops below 1 QRK
- Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)
- Difficulty re-targets every 20 blocks (maximum 10% up or 50% down)
Main ideas behind the concept
- A Revolutionary Currency: Quark has the power to revolutionize the lives of individuals, regenerate the lifeblood of communities and alter the paths of nations. As Quark is not encumbered by financial institutions, broken governments or crooked markets, it is free to breathe money-power into all communities without punitive interference.
- A Decentralized Currency: Quark is in the ownership of anyone who owns a part of a Quark coin. No one should have the exclusive right to centralize this currency under any nation state, corporation, community or individual.
It is a global medium of exchange joining together all peoples no matter where they reside. It is a untethered currency for an untethered generation and a lighthouse of hope in an uncertain financial future. It is a currency beyond borders. Its home is the whole Earth.
- An Evolutionary Currency: Quark exists to facilitate the next step of the social evolution of humankind. It aims to break down monetary barriers which inhibit the growth of ideas, individuals and communities. As a transnational currency, Quark looks to bring financial evolution and increased growth to all regions of the globe.
Quark will concede to fair and reasonable regulation and taxation by governments on a national scale in order to protect the people, but the heart of the currency will be put beyond the control of any governmental, financial or military institution.
- A Transparent Currency: Quark aims to provide a transparent monetary system which will not be manipulated by any individual, community, corporation or nation state. Due to its innovative design, it is near impossible for this currency to be manipulated, broken or destroyed.
Quark will create more transparency in political donations, increase openness in the business relationships and pressure the financial sector to improve. Quark is the ‘now’ of digital currencies and is leading the field in this area of development. As it establishes itself more, this currency will continue to provide financial freedom to all those who adopt it.
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