Ark

What is Ark?

The Ark or ARK coin is utility coin native to the ARK network. The latter provides Level 1 Blockchain solution based on the TypeScript programming language.

As a utility coin, ARK is responsible for powering the entire ARK ecosystem. It is paid as an incentive to network participants who take part in securing the ARK network.

Unable to mine ARK coins. This is because the ARK network uses Delegated Proof of Stake (DPoS) consensus mechanism. Therefore, the only way users can get ARK coins is through the major exchanges listed above.

There is no maximum number of ARK coins. This makes ARK inflationary.

ARK is a cryptocurrency, so its price tends to fluctuate. To find out more details about this, you can take a closer look at the ARK price history or the current ARK price in the chart above.

What are the main features of Ark?

Ark is a blockchain-based platform. infrastructure for creating custom blockchains. In addition to complete freedom of customization, blockchains built on Ark are completely compatible.

Speed ​​is one of the main advantages of the ARK network. His average block time is about 8 seconds. To put this into perspective, keep in mind that Bitcoin The average block time is about 10 minutes.

It is a completely open source project, meaning anyone can access the code.

As discussed in the What is Ark section, ARK coins are created using a delegated proof-of-stake consensus mechanism. It has a fixed number of delegates (51), called validators, each of which is elected by network participants in a process bid ARK coins.

Users must have at least one ARK coin in order for them to delegate it to the validator.

Most importantly, ARK holders can keep their coins even if they delegate them to a validator. This means that there is no lock period for the token.

As mentioned in the What is Ark section, delegates are rewarded with ARK coins for providing their services. In addition to ensuring network security, delegates have the right to submit proposals to improve the ARK ecosystem. The rest of the network then votes on these proposals, which are implemented into the network.

ARK coins also allow members of the ARK network to become delegators themselves.

Using DPoS as the main consensus mechanism to ensure the security of the ARK network is more environmentally friendly than other popular consensus mechanisms such as Proof-of-Work (PoW) used by Ethereum or Bitcoin.

The ARK Protocol or ARK Core is a layer 1 blockchain solution that allows developers to build blockchain projects using Ark. The first blockchain created using the ARK protocol was the ARK network.

One of the main goals of the project is to reduce the barrier to entry into the world of blockchain technologies for developers who do not have experience working with blockchain.

In addition, it aims to solve the main problems that blockchain networks have to face. These include scalability, speed and security.

Since ARK is based on Typescript programming language, blockchain solution – that’s a lot more accessible than other blockchain infrastructures this requires deep knowledge of blockchain-based programming languages ​​such as Solidity.

In addition to TypeScript, Ark supports other major programming languages ​​including Python, Java, Swift iOS, Ruby, Go, NET, Elixir, RPC, and PHP.

The Ark ecosystem includes integrated blockchain-based tools such as ArkScan and ArkLauncher. Additionally, it provides an exclusive digital wallet called ARKVault, which users can access from any type of internet-connected device.

Most importantly, developers can easily integrate ARKVault into their ARK-based blockchain.

Who developed Ark?

The Ark cryptocurrency project was launched in 2016, and the public ARK network was launched a year later. It is supported by an international team based around the world.

Ark is officially registered under the name ARK Ecosystem SCIC. However, the project is also known as Ark.io, which is the name of its website.

Francois-Xavier Thorens is one of the co-founders of the ARK ecosystem. He served as CEO from the launch of the ARK public network until mid-2021. Rock Chernetsalso co-founder of Ark, worked with Thorens as vice president Arc.

In terms of advisors, Ark has managed to assemble a solid supervisory board, with the core members being Lars Rensing, Matthew Cox and Scott McPherson.

In 2016, the Ark team announced Initial Coin Offering (ICO) event. It took place from early November to early December. ICO allowed the team raise about 800,000 US dollars for Ark. Investments came in the form of BTC, ETH and LSK, as well as many other cryptocurrencies.

Of the total supply of ARK coins, approximately 125,000,000 were distributed to ICO investors. In other words, 75% of ARK was distributed to ICO investors, 15% to the founding team, 7% to ARKShield, 2% to bug bounty programs, and 1% remained in escrow.

Additionally, the ARK ecosystem has signed partnerships with major blockchain players including nOS, WOLFRAM and Changelly.

Please be sure to do your research before diving into any crypto projects, including Ark. You can start by checking the price of ARK in the chart above.