Is ARK (ARK) the Bitcoin (BTC) Killer??
Dear Ark Advocates!
ARK is a cryptocurrency- and blockchain- based development platform allowing anyone to create their own fully customizable and interoperable blockchain. Reducing the industries need for Smart Contracts by using custom transactions, logic and multiple programming languages. ARK was founded in mid 2016, running an ICO later that year which raised 800K. Sound financial planning has allowed the team to become a well-funded entity since its inception. On March 21, 2017, the ARK Public Network went live, hosting the native ARK crypto asset. The ARK business entity formed shortly after, called ARK ECOSYSTEM SCIC. The business entity is commonly referred to as 'ARK.io' which is part of the teams branding as well as the teams website.
The ARK Ecosystem consists of an open-source blockchain technology stack authored in TypeScript programming language. ARK’s public network acts as a live implementation of ARK technology, node operators acting as delegates on the network, standalone blockchains running on ARK technology with independent node operators, a business entity that develops products powered by ARK as well as assists in maintaining the code base, an enterprise division driving adoption as well as a community of users, developers and service providers.
The ARK Public Network supports special transaction types such as multi-payment, multisignature, various registration transactions, and IPFS hash transactions. ARK’s Deployer product, allows fully customizable interoperable blockchain creation using a graphical user interface. This plug and play creation method allows developers to fully utilize ARK’s consensus model, technology stack, product line and custom transactions.
What Is ARK Trying To Solve?
ARK aims to solve the difficulty of working with blockchain technology and developing solutions that satisfy various use cases. The ARK Core Framework is designed to give developers easier access to blockchain technology. This framework consists of the ARK Core, which acts as the backbone of an ARK-based network, handling peer-to-peer operations, ledger database management, API access, custom business logic and more. Within the ARK Core Framework is the Generic Transaction Interface (GTI), which enables developers to create custom transaction types that run on a customized blockchain and fulfill the developer's desired use case. The concept is similar to building a decentralized application in Solidity. However, there is no complex new language to learn as the GTI functions in TypeScript. Lastly, the decentralized ARK-based application and any related crypto assets would run on a sovereign interoperable blockchain to address scaling concerns.
ARK “Bragging Rights”
● Delegated Proof of Stake
● 51 Delegates
● 8 Second Block Times
● Open-Source Code
● Interoperable Bridge Chains For Exponential Scaling
I. ARK Token Details
ARK had an ICO on 5 November 2016 and raised $22 million USD. According to Coinmarketcap.com, there’s a total supply of 157,654,974 ARK and a circulating supply of 129,534,077.48 ARK.
The ARK token is a native ARK token (not built on another blockchain).
II. How To Store & Stake ARK
ARK has a mobile and Desktop wallet you can download from their official site at ark.io/.
Ledger has an app for ARK that allows you to access your ARK wallet, and stake your ARK tokens: support.ledger.com/hc/en-us/articles/115005174589-Ark-ARKStaking ARK requires that you have your ARK tokens in the wallet and vote for one of the 51 delegates. 1 Vote per wallet.
According to stakingrewards.com/asset/ark/calculate, ARK rewards are currently averaging 8.68% ROI per annum.
Here is a list of the current ARK delegates at their payout structures:
arkdelegates.live/delegates
Once you’ve staked your tokens, there is nothing else you need to do. Rewards are paid out by the delegates (it varies per delegate but can be once a day), and the rewards get added to your wallet balance and are automatically staked. In other words, your rewards are automatically compounding as long as your wallet has voted for a delegate.
Tip: you can create multiple ARK wallets and split your tokens up between these different wallets. This allows you to vote for different delegates which in theory should slightly reduce your risk compared to having all your tokens in just 1 wallet voting for just 1 delegate.
It’s actually also possible to become a delegate, but that’s not for most people. If you’re interested,
here’s more info: ark.io/delegates
III. Potential Dangers Of ARK
As with any startup (especially in a new tech space), there are plenty of possible dangers that could cause the project to fail.
I like that ARK has a track record since 2016 (they’re not a new kid on the block). They also seemingly have a very competent team and my understanding is that they’ve been very careful with their funds (and seem to have plenty of runway left to continue working on the project for many years, even at current low prices).
There are potential dangers with the delegated proof of stake model as it doesn’t have a very long track record.
Other potential dangers are the obvious failure of achieving their vision, running out of funds (not likely at this point), and overall user adoption.
My Personal Opinion About ARK
I’m a big fan of ARK since 2017 and personally hold a fair percentage of my portfolio in this coin. Transparency with funds, competency of the team and huge progress over the past 3 years have me feeling good about the future for ARK and the ARK token.
I also really like that this is a no-hype project. Unlike many of the fly-by-night projects in the crypto space that have very hyped marketing to pump (and dump) their token price, ARK focuses on building and developing their product.
I believe that this kind of attitude has a much higher chance for long term success. In the meantime, I’m very comfortable to hold my ARK for the long term and stake the tokens and collect rewards while the team builds on.
Stay ahead of the masses,
Seth
ARK is a cryptocurrency- and blockchain- based development platform allowing anyone to create their own fully customizable and interoperable blockchain. Reducing the industries need for Smart Contracts by using custom transactions, logic and multiple programming languages. ARK was founded in mid 2016, running an ICO later that year which raised 800K. Sound financial planning has allowed the team to become a well-funded entity since its inception. On March 21, 2017, the ARK Public Network went live, hosting the native ARK crypto asset. The ARK business entity formed shortly after, called ARK ECOSYSTEM SCIC. The business entity is commonly referred to as 'ARK.io' which is part of the teams branding as well as the teams website.
The ARK Ecosystem consists of an open-source blockchain technology stack authored in TypeScript programming language. ARK’s public network acts as a live implementation of ARK technology, node operators acting as delegates on the network, standalone blockchains running on ARK technology with independent node operators, a business entity that develops products powered by ARK as well as assists in maintaining the code base, an enterprise division driving adoption as well as a community of users, developers and service providers.
The ARK Public Network supports special transaction types such as multi-payment, multisignature, various registration transactions, and IPFS hash transactions. ARK’s Deployer product, allows fully customizable interoperable blockchain creation using a graphical user interface. This plug and play creation method allows developers to fully utilize ARK’s consensus model, technology stack, product line and custom transactions.
What Is ARK Trying To Solve?
ARK aims to solve the difficulty of working with blockchain technology and developing solutions that satisfy various use cases. The ARK Core Framework is designed to give developers easier access to blockchain technology. This framework consists of the ARK Core, which acts as the backbone of an ARK-based network, handling peer-to-peer operations, ledger database management, API access, custom business logic and more. Within the ARK Core Framework is the Generic Transaction Interface (GTI), which enables developers to create custom transaction types that run on a customized blockchain and fulfill the developer's desired use case. The concept is similar to building a decentralized application in Solidity. However, there is no complex new language to learn as the GTI functions in TypeScript. Lastly, the decentralized ARK-based application and any related crypto assets would run on a sovereign interoperable blockchain to address scaling concerns.
ARK “Bragging Rights”
● Delegated Proof of Stake
● 51 Delegates
● 8 Second Block Times
● Open-Source Code
● Interoperable Bridge Chains For Exponential Scaling
I. ARK Token Details
ARK had an ICO on 5 November 2016 and raised $22 million USD. According to Coinmarketcap.com, there’s a total supply of 157,654,974 ARK and a circulating supply of 129,534,077.48 ARK.
The ARK token is a native ARK token (not built on another blockchain).
II. How To Store & Stake ARK
ARK has a mobile and Desktop wallet you can download from their official site at ark.io/.
Ledger has an app for ARK that allows you to access your ARK wallet, and stake your ARK tokens: support.ledger.com/hc/en-us/articles/115005174589-Ark-ARKStaking ARK requires that you have your ARK tokens in the wallet and vote for one of the 51 delegates. 1 Vote per wallet.
According to stakingrewards.com/asset/ark/calculate, ARK rewards are currently averaging 8.68% ROI per annum.
Here is a list of the current ARK delegates at their payout structures:
arkdelegates.live/delegates
Once you’ve staked your tokens, there is nothing else you need to do. Rewards are paid out by the delegates (it varies per delegate but can be once a day), and the rewards get added to your wallet balance and are automatically staked. In other words, your rewards are automatically compounding as long as your wallet has voted for a delegate.
Tip: you can create multiple ARK wallets and split your tokens up between these different wallets. This allows you to vote for different delegates which in theory should slightly reduce your risk compared to having all your tokens in just 1 wallet voting for just 1 delegate.
It’s actually also possible to become a delegate, but that’s not for most people. If you’re interested,
here’s more info: ark.io/delegates
III. Potential Dangers Of ARK
As with any startup (especially in a new tech space), there are plenty of possible dangers that could cause the project to fail.
I like that ARK has a track record since 2016 (they’re not a new kid on the block). They also seemingly have a very competent team and my understanding is that they’ve been very careful with their funds (and seem to have plenty of runway left to continue working on the project for many years, even at current low prices).
There are potential dangers with the delegated proof of stake model as it doesn’t have a very long track record.
Other potential dangers are the obvious failure of achieving their vision, running out of funds (not likely at this point), and overall user adoption.
My Personal Opinion About ARK
I’m a big fan of ARK since 2017 and personally hold a fair percentage of my portfolio in this coin. Transparency with funds, competency of the team and huge progress over the past 3 years have me feeling good about the future for ARK and the ARK token.
I also really like that this is a no-hype project. Unlike many of the fly-by-night projects in the crypto space that have very hyped marketing to pump (and dump) their token price, ARK focuses on building and developing their product.
I believe that this kind of attitude has a much higher chance for long term success. In the meantime, I’m very comfortable to hold my ARK for the long term and stake the tokens and collect rewards while the team builds on.
Stay ahead of the masses,
Seth
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