What is cryptocurrency ARK
Cryptocurrency ARK is not just a cryptocurrency, it is a project that wants to bring cryptocurrency technology to the masses. That’s what they want to be different from other projects, such as cryptocurrency Lisk, that wants to make life easier for the business. Ark wants to make available blockchain technology for any inhabitant of the planet Earth, so that he did not even suspect that he uses blockchain. Ark project is a kind of mixture of cryptocurrency bitshares and Lisk, but the technology of the project we are considering today, takes into account the best parties and principles of these projects, and the developers have tried to improve it a bit. On this project, there is a team of 27 people, headed by Mike Doty – one of the developers of Lisk, and Francois Javier Torrence –who also took part in the launch of Lisk. In addition to these two representatives, assembled a very strong team, with which, you can learn more, going to the official site of Ark. It is also very important to note that 14 programming languages are used in the Ark Project, which is a positive Moment, for developers.
Cryptocurrency Ark operation algorithm
The algorithm that uses cryptocurrency Ark is called the delegated Proof of stake (Delegated proof of stake), which means that the 51 delegate is selected, they can be called nodes (the server) that will process the transactions and create the blockchain itself, and for these functions they will receive rewards in the form of ark coins. For each created block, they will receive 2 Ark, so you understand how much you can earn, then one block is formed in 8 seconds. This system is interesting because it is additionally protected from the fact that even if you have a lot of coins, you can vote not for one, but for several delegates, but your weight-the weight of your voice, will be divided by 51, which will help to avoid market control by one or multiple players.
In total, 125 million ARK coins were produced, but at the moment the turnover is about 100 million. As there is a motivation for the delegates who will provide the activities of the Blockchain arc network. Easy mathematical calculations, you can find out how much time it will take to make all 125 million coins appear in everyday use. Recall that to form one block, you need 8 seconds.
This algorithm of release and the total number of coins, assumes the fact that the inflation of the ark, will be at times lower than the inflation of such popular cryptocurrency as Ether and lisk. So in the first year, cryptocurrency Ark will be exposed to 6.31% inflation, in the second year, it will make 5.93% inflation, and in 10 years, will be mined the last coin cryptocurrency Ark, and inflation will be 4.02%. After that, the cost of cryptocurrency will only grow. For comparison, we will provide a picture from the official White paper of the ARK project, which we have taken on their official website Ark.io.
As you can see, at the time of the Ether on the cryptocurrency market, its inflation was 30% per year, and the inflation of cryptocurrency lisk was equal to 15%, which is not close to the inflation of the ark.
Advantages of cryptocurrency Ark
The first advantage is that Ark is fast. The transaction time is approximately 10 seconds. I.e. this time enough that the money came out of one purse, and appeared in another.
The second advantage is delegation. This advantage is obtained thanks to the Delegated Proof of Stake technology. This is what we wrote above.
The third advantage, perhaps, the most important-bridges (smart bridges). These smart bridges allow the arch to communicate with other blockchains. For a start, such communication will happen with blocjchains cryptocurrency bitcoin, ether and Lisk, but in the future this list will be expanded.
The fourth advantage of cryptocurrency Ark, is that they have their own fund, which is laid 7% of the coins. With the help of this fund, the developers named it Arkshield, will solve the difficulties and problems that will arise.
Perspectives and forecast for cryptocurrency Ark
As for the prospects of cryptocurrency Ark, they are still prospects, because the project has recently slowed down in development, and based on the information that only one person is actively working on the project, let’s say frankly that we did not buy coins for ourselves. But if they can, to pierce this plateau, and still will start to work in full force, and will finish, at least on half, all their undertakings, the prospect of growth up to 4-4.5 dollars for a coin is very realistic. But at the moment, it remains only a prospect. For us a signal to buy cryptocurrency Ark, we will return to the range below 2 dollars.
Where to buy cryptocurrency Ark
At the moment cryptocurrency Ark can be bought on several exchanges, but we can only recommend the exchange Bittrex, where there is 99% of trades on this cryptocurrency.
On this all dear friends, if you are interested in such projects, we recommend you to read the review of cryptocurrency, which we have talked about a lot today-cryptocurrency lisk, which you can find here. With you was a blog about cryptocurrency Bitbetnews, before the meeting on the pages.