Ark (ARK) 2018-05-02T03:54:49+00:00

Ark (ARK)

Project Description

Purpose
Ark is a Cryptocurrency Blockchain built as a derivative from Lisk, Crypti, and BitShares with unique differences and improvements to the Delegated Proof of Stake consensus algorithm. This code association provides simplified future interaction between ARK and other blockchain systems using DPoS as their consensus. This homogenous codebase allows for the potential to provide service bridges in the form of Lisk blockchain apps, along with any other additional systems provided by their Blockchain administrators.
 
The ARK Platform does not provide direct support for sidechains or dapp databases. Instead, a mechanism to bridge together blockchains is provided via a bridging function built into ARK Core where any blockchain can send and receive trigger function notices and informational data through the primary ARK network via custom developed SmartBridge(s)​ ​and Encoded​ ​Listeners​.
 
ACES began as a project to prove ARK’s encoded listener concept by connecting ARK to Ethereum and allowing users of ARK to interact with the Ethereum blockchain without needing to own any Ether themselves. ACES is now also connected to Bitcoin’s and Litecoin’s blockchain.
 
Strengths
– Allows trading between blockchains without having to go through a centralized exchange
 
– A business does not need to worry that they have chosen a less populated but technically better suited blockchain to build their business on, because a single ACES service can open their product up to users of any other cryptocurrency
 
– Fast confirmation times (8 sec/block)
 
Weaknesses
 
– Many goals in the original white paper are not finished, including push-button cloneable blockchains and their roadmap doesn’t include any timeframe as to when they are expected to be done
– There are fees when voting for a delegate and there are fees when cancelling your vote
Network Status
The Ark network is up.
Roadmap
They are working on multiple projects at the moment, but their roadmap doesn’t include a timeframe of when said projects are expected to be done.
Governance
Ark utilizes a modified delegated Proof-of-Stake consensus mechanism featuring 51 delegates. These delegates are tasked with running the network and are rewarded with block rewards.
 
The 51 forging nodes with the highest number of votes are eligible to Forge ARK blocks. This design eliminates the possibility that any single large ARK holder or an organization holding large percentages of ARK can gain control over the entire network by voting for all of their nodes into forging positions, thus effectively taking complete control over that DPoS Blockchain. Votes from ARK Tokens held by ARK Crew may be used at ARK Crew’s discretion.
 
Similarities
Ark is similar to Lisk since it was forked from it and they both use a similar DPoS consensus mechanism.
Notable partnerships
Ark is in partnership with BlockPort and Bitcoin PR Buzz.
Exchange
ARK is traded on Bittrex, Binance, Upbit and OKEx.
Stack
Ark is a blockchain layer.
Community
Reddit: 19 974 subscribers Twitter: 56.3k followers
Price history
Feb-9-2018: 4.24 USD Dec-2017: 3.15 USD Sept-2017: 2.53 USD July-2017: 0.55 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations

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