With a shitton of Ethereum competitors coming out, it is important to keep up with the different solutions.
Today, we’ll be talking about one of many platform projects: Ark.
Let’s dig in…
Ark (ticker: ARK)
Wtf is Ark?
Ark aims to bring blockchain technology to the masses (like every other f***n project). Their goal is to allow companies to create their own blockchains and smart contracts in a few simple clicks...while also being scalable.
They present the concept of SmartBridges (yes, one word) that allows virtually any blockchain, whether it be a completely separate blockchain or an intentional side chan, to communicate with the core Ark network. This allows for load to be taken off the main chain resulting in quicker transaction times. This will also bring additional liquidity as they implement atomic swaps on the network.
Regarding simple dApp development, they support the following languages to foster more app development:
- Swift (iOS)
- And more...
They feel if developers are attracted to a platform, then users will come to use their applications. This is a great plan of attack that has proven to be effective (see the Apple App Store and Google Play Store).
For further scalability, they use the DPoS (delegated proof of stake) consensus method. Out of hundreds of eligible delegates, only 51 can make the cut at any given time. Delegates are trusted nodes which contribute to the network validating transactions and keeping it secure.
A reputable and trusted delegate will provide written proposals about how they will operate. This can include dividend sharing as well. Meaning delegates can choose to share profits to those who vote for them. (You should probably vote for these guys lol, screw reputation amiright? We want moonlambos). To confirm, yes, it is DPoS, not PoW. From the start, Ark was launched with 125 million ARK from the genesis block. Delegates gain 2 ARK for each block they confirm (which is every 8 seconds).
Who tf is behind this shit?
It is difficult to say who is really running the show considering they have literally 27 co-founders (LOL). But...at least they are all transparent, with their REAL names. Explore them here: https://ark.io/team (we like how their managing director looks like a hippy lol).
Anyways, mid-tier shitcoin. Per usual, we are skeptical on if they can overtake Ethereum. Let’s see what happens...DYOR.
Hope you learned some shit.
- Mike and Aaron