Generalize
Information
Information
What is ARK and its features?
ARK is a cryptocurrency- and blockchain- based development platform that enables users to create their own fully customizable and interoperable blockchain. By utilizing custom transactions, logic, and multiple programming languages, ARK reduces the need for Smart Contracts in various industries.
ARK was established in mid-2016 and conducted an ICO later that year, raising $800K. With sound financial planning, the team has maintained a well-funded entity since its inception.
On March 21, 2017, the ARK Public Network was launched, introducing the native ARK crypto asset. Soon after, the ARK ECOSYSTEM SCIC, also known as 'ARK.io,' was formed as the official business entity and website.
The ARK Ecosystem comprises an open-source blockchain technology stack developed in TypeScript programming language. It encompasses ARK's public network, which serves as a live implementation of ARK technology, as well as standalone blockchains running on ARK technology with independent node operators. Additionally, there is a business entity responsible for product development and code maintenance, an enterprise division driving adoption, and a community of users, developers, and service providers.
The ARK Public Network supports special transaction types, including multi-payment, multisignature, various registration transactions, and IPFS hash transactions. ARK's Deployer product allows developers to create fully customizable and interoperable blockchains through a user-friendly graphical interface. This plug-and-play creation method empowers developers to leverage ARK's consensus model, technology stack, product line, and custom transactions.
Answers
What Is ARK?
ARK is a cryptocurrency- and blockchain- based development platform that allows anyone to create their own fully customizable and interoperable blockchain. It reduces the need for Smart Contracts by using custom transactions, logic, and multiple programming languages. ARK was founded in mid-2016 and ran a Token Exchange Campaign (TEC) later that year, raising $800K in bitcoin and other cryptocurrencies. The ARK Public Network went live on March 21, 2017, hosting the native ARK crypto asset. The ARK business entity, known as ARK ECOSYSTEM SCIC or 'ARK.io,' was formed shortly after.
The ARK Ecosystem consists of an open-source blockchain technology stack written in TypeScript. It includes ARK's public network, node operators acting as delegates, standalone blockchains running on ARK technology, business entities developing products powered by ARK, an enterprise division driving adoption, and a community of users, developers, and service providers.
The ARK Public Network supports special transaction types such as multi-payment, multisignature, registration transactions, and IPFS hash transactions. ARK's Launcher product allows developers to create fully customizable interoperable blockchains using a graphical user interface.
What Is ARK Trying To Solve?
ARK aims to solve the difficulty of working with blockchain technology and developing solutions for various use cases. The ARK Core Framework gives developers easier access to blockchain technology by providing the ARK Core, which acts as the backbone of an ARK-based network. It handles peer-to-peer operations, ledger database management, API access, custom business logic, and more. Within the ARK Core Framework, the Generic Transaction Interface (GTI) enables developers to create custom transaction types that run on a customized blockchain. The GTI functions in TypeScript, eliminating the need to learn a complex new language. ARK-based applications and crypto assets run on a sovereign interoperable blockchain to address scaling concerns.
How Do You Mine Or Stake ARK?
You cannot mine ARK; it is forged by elected delegates who run the network. ARK operates on a custom designed delegated proof-of-stake blockchain with 51 forging delegate slots and eight-second block times. Each forged block creates 2 ARK, which is sent to the validating/forging delegate. Delegates are elected by ARK token holders, with 1 ARK equal to 1 vote. Users can only vote for one delegate with a given wallet address, addressing concerns with centralization and power groups. Potential forging delegates can run instances of the ARK Core and campaign for forging status by gathering vote weight from token holders.
To place their delegate into one of the top 51 slots, users execute a special vote transaction using the ARK Desktop or ARK Mobile wallets. ARK used in voting is not locked and can freely enter and exit the voting wallet address. The staking rewards system is handled by the delegates themselves, with each delegate having a unique reward system. The ARK team does not run the ARK public network.
Where Can You Buy ARK?
You can buy ARK on any cryptocurrency exchange that supports the digital currency. For the latest list of exchanges and trading pairs, you can check out the full list on the ARK website or the market pairs tab. There are also downloadable exchange plugins available for the ARK Desktop Wallet. ARK can be stored on exchanges, ARK wallets, multi-asset crypto wallets, crypto debit card wallets, or Ledger hardware wallets.
Coin ranking
Popular Q&A
- I want to store my ARK cryptocurrency on a Ledger Nano S. How can I do that?2021-12-24
- How does the introduction of Ark Robotics ETF affect the cryptocurrency market? What are the potential implications and consequences of this ETF on the digital currency industry? How will it influence the trading volume, price movements, and overall market sentiment of cryptocurrencies?2021-12-24
- In what ways can Ark Robotics ETF contribute to the growth and development of the digital currency industry? How does the ETF's investment strategy align with the needs and goals of the industry? What specific actions or initiatives has Ark Robotics ETF taken to support the growth of digital currencies?2021-12-24
- What are the key benefits and advantages of investing in ARK coin? How does it differ from other cryptocurrencies? Is it a good long-term investment option?2021-12-24
- Can you explain the step-by-step process of converting ARK to fiat currency? I'm new to the world of cryptocurrencies and would like to understand how I can convert my ARK tokens into traditional money.2021-12-24
- What measures does ARK DEX take to ensure the security of digital asset transactions?2021-12-24