Name: Ark - All-In-One Blockchain Solutions
Price Info: - https://coinmarketcap.com/currencies/ark
The ARK ecosystem was launched with 125 million ARK in the genesis block. Delegates are awarded 2 ARK for each block that they forge, and a block is forged about every 8 seconds.
Assuming the 8 second block time doesn’t change, the scheduled inflation of ARK will be 6.31% in the first year, 5.93% in the second year, and will continue to decrease to 4.02% in the tenth year. This is a much less dramatic drop than both Lisk and Ethereum.
The 8-second block time puts ARK on the faster end of transaction times for cryptocurrencies. To put it in comparison, Bitcoin has 10-minute block times, Litecoin’s are 2.5 minutes, and Ethereum transactions typically take 14 seconds.
Current, the ARK network can process 25 transactions per block. The Crew has stated in the whitepaper, though, that they plan on making this more scalable. They’ll do this by lowering the block time and increasing the number of transactions that are in each block.
To send ARK, you have to pay a transaction fee of 0.1 ARK. This amount is going to change as the network grows and/or becomes more efficient. To register as a delegate, you need to pay 25 ARK and, as I mentioned earlier, casting a vote for a delegate currently costs 1 ARK.
However, with the next core update, these fees will be reduced to:
Sending ARK: 0.01 ARK Voting/Unvoting: 0.02 ARK Registering a delegate: 10 ARK
All fees are paid to the forging delegate who processes the block containing those fees.
Ark aims to create an entire ecosystem of linked chains which will provide blockchain solutions to users, developers, and innovative startups. By being highly flexible, adaptable, and scalable, it allows desired products to be adopted by the general public. Having its code as open source, it is openly available to anyone who wants to contribute and improve its functionality or to build their own blockchain based on Ark. With a new block is created every 8 seconds, its transactions are incredibly fast!
Similar to Icon, Ark is a cryptocurrency launched in February 2017 that aims to connect the blockchain of every single cryptocurrency in existence.
To quote Ark’s official website, “We aim to create an entire ecosystem of linked chains and a virtual spider web of endless use cases that make ARK highly flexible, adaptable, and scalable. ARK is a secure platform designed for mass adoption and will deliver the services that consumers want and developers need.”
At the core of Ark’s functionality is something called a “smart bridge”. Smart bridge technology allows for communication between blockchains using “a special data section called Vendor Fields and special Encoded Listener nodes that comb through this data for tasks that it can perform.”
In simplified terms, this means that means that once a bit of code makes it into the core a blockchain, that blockchain can “talk” with any other blockchain using the smart bridge. This means that if you wanted to create an Ethereum smart contract but only hold Ark tokens, you’d just go to your wallet, issue a few instructions and it’s done.
The ARK token itself runs on a Delegated Proof-of-Stake (DPoS) consensus system, which is good from an environmental and anti-centralization perspective. ARK also employs alternative programming languages which means that almost any developer can feel comfortable building on top of ARK. Support already exists for 10+ languages, and that number is said to be growing.
With the integration of alternative programming languages, almost any developer can feel comfortable building on top of ARK. As of this writing, ARK already includes support for:
Python Elixer RPC Java .NET Go PHP/Laravel TypeScript API Nucleid Ruby Swift iOS
R, C, Advanced PowerShell, Rust, Kotlin, and C++ support will be available soon.
Push button deployable blockchains can be used to easily fork ARK and create your own project. These forks are perfect for start-ups and come with many of the existing ARK features out-of-the-box. Even better, chains deployed through this feature automatically have SmartBridges equipped.
Ark shows their roadmap objectives in stages as opposed to posting a date, giving you an idea of how far along they are in reaching each target. They are currently working on many exciting goals. they’re currently working on the integration of IPFS (Inter-planetary File System, a peer-to-peer hypermedia protocol) and NFC/Contactless Chip Wearable Devices, which aims to address large amounts of data which will be timestamped and secured without having to put all of the excess data onto the chain itself.
Funfact: Ark seek to link all Cryptocurrencies with universal bridges (hence the name Ark).
Easily Calculate or Convert ARK to US Dollars, Euro or Great Britain Pounds other World currencies below. Our Crypto Converter makes this as easy as a breeze.