“Ark is a vision for the future, and positions itself as competition for Ethereum and Neo, even if we can say there will be no competition for Ark, just partners. Ark is an ambitious platform project, with its own blockchain that wants to do, literally, everything….”
Coin Name: Ark
Birth of project: 2016
Project Status: Pending
Circulating Supply: 101,003,906 ARK
Validation: Delegated Proof-of-steak
Official website: https://ark.io/
Official Wallet: https://ark.io/
Introduction to Ark (ARK)
Ark is a vision for the future, and positions itself as competition for Ethereum and Neo, even if we can say there will be no competition for Ark, just partners. Ark is an ambitious platform project, with its own blockchain that wants to do, literally, everything.
Everything means deploying a blockchain just by pushing a button, issuing smart contracts, be a bridge between different blockchains. For other blockchains to interact with Ark it’s used something called SmartBridges. SmartBridges will allow blockchains to communicate directly.
Let’s say different blockchains need to communicate to make a smart contract in Ethereum, the SmartBridge allows that. Ark’s vision relies on the growth of the blockchain economy, when many blockchains and smart contracts coexist, so to get a job done we would need many tokens. SmartBridges solve this potential issue, pretty much like an atomic swap.
There is another extra to Ark, it doesn’t simply make the life easier for users, but also for developers, in the sense that the SmartBridges allow the developers to integrate capabilities of other blockchains into their own.
Ark aims a full-scale collaboration and coordination between multiple platforms. In the case that other blockchains aren’t using Ark’s code, users can still resort to the Encoded Listeners. These Encoded Listeners are points in the network (nodes), users that have specific software enabling them to be a hub and listen to what Ark is saying.
Those users are Ark token holders, more or less like miners, who convert the data for a fee. Basically anyone holding tokens can be an encoded listener, taking a profit and, at the same time, benefiting the network. Currently there are Encoded Listeners ready for Bitcoin and Ethereum, but there are more being presently developed.
Ethereum has ERC20 tokens that, in a way, make the Ethereum blockchain crowded, as there are too many of them for the transaction speed Ethereum can support. Imagine a road with many cars on it.
This won’t happen with Ark’s tokens, as the called pushbutton blockchains will have an independent blockchain SmartBridge compatible, allowing Ark to scale as much as needed, and fully communicate with their creations. Imagine an extra lane being added to the road each time a new pushbutton blockchain is created.
Ark’s network uses the delegated proof of stake model (dPoS), and has a user-friendly wallet, with complete interaction functions in terms of SmartBridges, for example. The challenges ahead are related with the complexity of the project, as well as the many projects trying to accomplish something similar, namely Ethereum. The potential is there though.
This is a brief introduction to Ark, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Price: [cryptocurrency_widget type=”inline” symbol=”ARK~USD” template=”basic3″ color=”default”]
Feb 19, 2018: $4.63
Jan 19, 2018: $6.38
Dec 19, 2017: $6.89
Nov 19, 2017: $3.22