Ark (Ark) – Should You Invest in Ark Coin?
What is Ark?
Ark is a blockchain ecosystem with a focus on interoperability. The highly secure core blockchain runs with delegated Proof-of-Stake as consensus mechanism and can communicate and exchange value with other blockchains.
This is possible through so-called “SmartBridges,” which are some sort of intermediate smart contracts to whom the ARK tokens are sent and exchanged with the desired token on the other connected blockchain, and through data fields in the transactions, it is possible to exchange information.
Blockchain networks that wish to connect with the Ark blockchain have to implement a snippet of code that Ark provides into their own code. Additionally, it provides one-click blockchain solutions for companies.
The native token is called ARK and users can activate optional privacy features when transacting these tokens. The block time is 8 seconds, and every block contains 25 transactions. This and the number of active delegates can be increased via soft fork if necessary.
The token sale raised 1,279,67 BTC, which were 998,000 USD worth at the time of raising and lasted from 7. November 2016 to 11. December 2016. Some of the Ark founders are former key developers at Lisk.
Can it be mined?
No, the project uses dPoS (distributed Proof-of-Stake) as a consensus mechanism. Instead of mining, block producers will be generating blocks and get rewarded in tokens. Block producers will be voted upon with the dPoS-system. In the Ark ecosystem, there are 51 active Delegates at the moment, called “forgers.”
What differs it from other Cryptocurrencies?
It tries to bridge different blockchains together and create a web of blockchains. Interoperability is the main goal of this project.
How much is it worth today?
What is the total and the circulating supply?
The total supply is 133,954,272 and the circulating supply at the time of writing is 102, 704, 272 ARK.
Where can you buy ARK?
You can buy it on several cryptocurrency exchanges, most notably Binance, Bittrex, and Upbit.
Can it be sold for cash?
You can sell for cash on several cryptocurrency exchanges that have fiat-pairings, most notably Upbit.
It currently rebuilds Ark Core and is working on the implementation of a virtual machine. Also, they work continuously on forming SmartBridge partnerships and further strengthening the Ark ecosystem.
Verdict and Rating
4/10 It is a very ambitious project and, if successful, could have a huge impact on the crypto landscape. But I am afraid that they are trying to achieve too much at once, and I don’t believe that many blockchain networks will be willing to implement an Ark code snippet into their source code, as it is necessary for SmartBridges to function.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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