Tuesday saw a strategic partnership declared between California-headquartered crypto projects QuarkChain (QKC) – a secure, decentralized and scalable blockchain that can deliver over 100,000 on-chain transactions per second – and Oath Protocol (OATH) – a blockchain protocol that specializes in dispute resolution and governance.
This partnership between QuarkChain and OATH Protocol represents the first of its kind within the realms of cryptocurrency and blockchain technology; “a leading example of a public chain’s use of a decentralized governance protocol” – according to OATH’s announcement.
Making this collaboration unique is the fact it allows a public blockchain to be able to give the community additional rights and control with regards to the future strategic direction of the chain.
And so, rather than entrusting few major stakeholders with the ultimate decision-making authority, OATH’s solution promotes greater equality among community members. This is something that tends to be characteristic of private, permissioned blockchains – and certainly not public – where security and scalability are often considered more important than operating a blockchain network that is truly decentralized.
For QuarkChain – who, on OATH’s website, are already listed as an investor – the OATH strategic partnership marks its “first and only dispute resolution protocol,” according to Ting Du (Chief Business Officer & CEO (China), QuarkChain), who stated in OATH’s announcement that:
“We have all been focusing on technical blockchain security, like anti-hacking, but OATH shows us a different layer of blockchain security, governance and disputes resolution, that will protect users’ rights and assets.”
Indeed, pairing with QuarkChain – who published a comprehensive FAQ blog post on Tuesday addressing matters relating to marketing and technical – represents a major coup for the nascent OATH startup.
Should OATH’s decentralized blockchain governance protocol integrate seamlessly with QuarkChain, it may indeed catalyse further demand for their technical architecture from QuarkChain-based decentralized applications (dApps).
Highly aware of this opportunity, of course, is Yin Xu (Co-Founder & CEO, OATH Protocol), stating in Tuesday’s announcement that:
We want to build close relationships with all the dApps on QuarkChain and become their standard dispute resolution protocol.”
QuarkChain partners with Oath Protoco, a new layer of blockchain security 💪💪👏👏 https://t.co/zoe1TNy1Bn
— QuarkChain (@Quark_Chain) August 7, 2018
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