The latest news doing the rounds in the crypto world is about a new decentralized ecosystem whose main focus and objective are to create a sense of awareness of the blockchain technology and to make the same available to the common man. This new ecosystem is called ARK. The common man would consider ARK to be just like any of its rivals in the industry. However, many reports suggest that it has a high rating in terms of its market capitalization.
What does ARK offer?
One of the most prominent features of ARK is the fact that its users are allowed to create their own blockchain. The technology has a democratic approach in the sense that its users can clone the ARK Blockchain if required, and alter the same as per their requirements. As a result, the users of the ARK platform are given full freedom to design their own blockchain.
ARK uses a technology known as SmartBridges. This technology enables different blockchains to be linked to each other. An ideal example of linking blockchains would be Ethereum linking up to the Bitcoin blockchain by using ARK as a medium of linkage.
ARK and Its Components :
Unlike other platforms wherein miners secure the blockchain, the ARK platform works differently. In the ARK platform, the blockchain is secured by delegates. Therefore the ARK platform is said to function on ‘Delegated Proof of Stake’ consensus algorithm since it is dependent on its delegates. The number of delegates is restricted to 51 members, and voting for a delegate costs 1 ARK.
ARK users will benefit as compared to users of other blockchain platforms since the current block time for ARK is 8 seconds. November 2018, saw the launch of the second version of the main net which justifies the company’s focus and objective.
Even though the ARK blockchain creation system is currently not in operations, the talk about it in the crypto world only goes to show that the demand for the platform will be high once it begins operations.
The Market Review :
Throughout the last month, the ARK was rallying in the range of 0.00009 BTC to 0.00012 BTC, after which it experienced three spikes. Currently, the ARK is rallying in the range of 0.00012 BTC to 0.00015 BTC.
Binance, which is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies and is also the biggest cryptocurrency exchange in the world in terms of trading volume enables its users to buy the ARK coin.
A quotation on the ARK website reads :
“ARK provides users, developers, and startups with innovative blockchain technologies. We aim to create an entire ecosystem of linked chains and a virtual spiderweb 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.”