Quark Alternative Coin
What is a Quarkcoin?
The Quarkcoin is an alternative cryptocurrency that was founded in 2013 as an alternative to the Bitcoin. Quark found that the Bitcoin was basically a great idea and that it would revolutionize the world, however it had some flaws that made it possible for people that already had capital behind them to capitalize on the economic growth of the cryptocurrency and wanted to create something that was not only more fair but also faster and more secure than the Bitcoin.
The things that the Quarkcoin aimed to improve compared to the Bitcoin lies in the transaction times, a higher security level and easier and more fair mining for the users. The transaction time of up to 10 times faster than many other cryptocurrencies is of course a major plus when you have to transfer coins to other users, taking down to only a few minutes in total. The higher security level however is slightly more complicated. The Quarkcoin is using nine rounds of hashing from six different hashing functions to make the coin as secure as possible, while most other cryptocurrencies only use one function to cover their security. This is also how it makes the mining for users become more easy and fair as the hashing functions doesn't allow for people to use advanced ASIC rigs to mine, but instead only allows regular CPU computers to mine for the Quarkcoin, which all computers have. Through this kind of mining everyone can compete at an equal level and avoid that large companies have huge mining rigs that sits and mines coins while regular people will be lucky to just see a fraction of a coin every 3 months. Furthermore the coin aims at producing a new block every 10 minute, so that the Quarkcoin network automatically adjust the difficulty towards producing a block every 10 minutes with an interval of only 30 seconds. It has a 0.5% inflation line which will make it possible to produce 1 million coins every year, to avoid the coin from devaluating throughout time.
The Quarkcoin is currently the 9th biggest cryptocurrency based on market capitalization, having a total market value of around $21.2 million. Currently there is around 247.5 million Quarkcoins in circulation having a value of $0.090 per coin, which isn't a lot. The coin is overall quite stable in its value, but still experience enough volatility to make it worth investing in and make some money out of. The Quarkcoin can be bought and sold through different cryptocurrency exchanges and can usually be bought with Bitcoins and Litecoins, but there are also a few exchange sites exchanging dollars for Quarkcoins.
You can see the presentation video of Quarkcoin below:
What Can I Use It For?
Quarkcoin is currently only used for investment purposes and to transfer funds to other persons, as there are no merchants nor gambling sites accepting the cryptocurrency as a payment method currently. A few payment providers have integrated the possibility for businesses to accept the Quarkcoin, but none has chosen to do that so far. So if you are looking to buy Quarkcoins it should only be done as an investment purpose and nothing else as the situation is currently.