Ark (ARK)

About Ark (ARK)

What is Ark (ARK)?

Ark is a platform based on blockchain technology that enables anyone to create their own fully customizable and interoperable blockchain. It strives to reduce the industry’s reliance on Smart Contracts by utilizing custom transactions, logic, and multiple programming languages. The Ark Ecosystem is a technology stack based on open-source blockchain, authored in TypeScript programming language. The Ark Public Network, which hosts the native Ark crypto asset, serves as a live demonstration of Ark technology. Ark’s Launcher product provides developers with the ability to create fully customizable interoperable blockchains using a graphical user interface.

How does Ark (ARK) work?

Ark operates on a custom-designed delegated proof-of-stake blockchain with 51 forging delegate slots and eight-second block times. Each forged block generates 2 Ark, which is allocated to the validating/forging delegate for their contribution. Delegates are chosen by Ark token holders, with each token holder’s voting power fixed at 1 Ark equals 1 Vote. Users who desire to position their delegate into one of the top 51 slots execute a special vote transaction using the Ark Desktop or Ark Mobile wallets, assigning vote weight to the delegate. The compensation system for delegates is managed individually, and each delegate’s system is unique.

What are the potential use cases for Ark (ARK)?

Ark aims to address the challenges associated with working with blockchain technology and developing solutions that satisfy various use cases. The Ark Core Framework is designed to provide developers with easier access to blockchain technology. This framework includes the Ark Core, which manages peer-to-peer operations, ledger database management, API access, custom business logic, and more. The Generic Transaction Interface (GTI) within the Ark Core Framework allows developers to create custom transaction types that operate on a customized blockchain and fulfill the developer’s desired use case. The decentralized Ark-based application and any related crypto assets would operate on a sovereign interoperable blockchain to address scaling concerns.

What is the history of Ark (ARK)?

Ark was established in mid-2016, and later that year, it conducted a Token Exchange Campaign (TEC) that raised $800K in Bitcoin and other exchanged cryptocurrencies. On March 21, 2017, the Ark Public Network went live, hosting the native Ark crypto asset. The Ark business entity, known as ARK ECOSYSTEM SCIC, was established subsequently. This entity is commonly referred to as ‘ARK.io’, which is part of the team’s branding as well as the team’s website. The team has maintained its operations through careful financial planning since its inception.