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Quark is an open source software used mainly as a digital currency that employs multiple cryptographic algorithms, which unlike fiat/national currencies provides the platform for a decentralised monetary system.

Quark was launched in 2013 with the belief that the control of money should not be in the hands of the few, but in the hands of the many. This forum tries to build on that ideology by distributing Quarks in the hands of those that are active in the community. By posting quality articles and contributing to general discussions you will earn Quarks.

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Purpose of the mining promotion & raising Quark hashrate

Discussion in 'Mining' started by Mako, Sep 5, 2014.

  1. Mako

    Mako Quark Supporter Staff Member QuarkTalk Custodian

    As most of you know, the promotion for solo miners is running for every single block you find using your core wallet. This promotion has come about in order to educate Quarkers of the importance of keeping their core wallet mining in background even with 1 CPU core because Quark is presently facing a big challenge in keeping a healthy hashrate for protection against large botnets farms which can refuse to transmit transactions and could attempt to double spend. CPU mining is still possible in Quark because our market value is not so big to force hardware manufacturers building specialized miners to fit our algo. Price per a single quark will have to surpass $50 in order to be viable for professional miners to enter the mining scene. We may never reach those prices which could be a good thing as a) we keep market speculators at bay and b) our individually power vote(by mining power of our PC) will still be relatively similar.

    Quark, unlike many other digital currencies, has a safety feature in place for protection against double spends attacks by hard checkpointing a block after 12 more blocks are found, that takes about 6 minutes. If you're doing large transactions of over 100K quarks is better to wait for these 6-7 minutes or 12-16 transactions to be sure your transaction won't be reversed. However, this feature still needs to be backed up by a strong hashrate in order to be considered safe from ill-intentioned 51% pools. If we keep voting by keeping our core wallet open and mining then our collective good intentions will make attackers attempts more difficult.
    Last edited: Dec 12, 2014

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