ARK Coin Review (UPDATED 2018): What is It?

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AVG Rating: 8.4/10

What is Ark?

Ark is a way to make a blockchain technology which is decentralized and fast acting. This is meant to give people the ability to produce a blockchain easily for real world use.

The goal is to allow people to have a collaborative and scalable blockchain to allow for direct involvement in producing technologies. They also have a global crew that is working to keep on hitting the company milestones.

What does Ark do?

This was made easy enough for the average consumer to make connected blockchains. They work on 3 specific things: Varying programming, SmartBridges, and simple Push Button Deployable Blockchains.

The coding can be altered to fit your need with their varying programming. This allows for many major coding allowed including: Java, Python, Elixer, Ruby, Swift IOS, Go, RPC, Nucleid, TypeScript API, Kotlin, Laravel, JavaScript, PHP, Lua and .NET.

The added SmartBridges helps connect blockchains and increased their use. This uses what is known as Vendor Fields which uses a small amount of code that anyone can set up. This creates a more diverse and larger network of users and improves the popularity of cryptocurrency coins.

The ease of use extends through the push button deployable blockchains. This simplifies the ease of use for creating a fork and for using ARK immediately without much hand holding. This also ensures that the SmartBridge technology is already a part of the system, so users don’t have to do any difficult coding.

The Delegated Proof-of-Stake Algorithm

A dPos or delegated proof-of-stake algorithm is an easy to use and fast decentralized problem solver. When there are questions which need to be addressed there is the ability to vote as delegates. With 51 people chosen, these users can vote a single time to make an update by creating a block.

After this is generated the next delegate can decide. The transparency assures people the ability to know for certain what transactions took place. Any needed corrections can be immediately changed by majority decision. This also prevents any attacks, since they would have to somehow get 51% of ARK coins. The company suggests that any negative changes would be unlikely, since it would be a hacker’s benefit to keep the coin at a high value.

Voting for a delegate requires 1 ARK token, and delegates earn 2 ARK for every block which occurs roughly in 8 second increments. This pricing will be reduced in the future.

The great benefit of this is that since it takes about 8 seconds for every block, it is actually much faster than your average cryptocurrency. Their probable rate of inflation is also quite steadily decreasing, and it is much more stable than other forms of cryptocurrency.

They also allow for 25 total transactions for every block, and they offer a live update of what the average block time is, when it was produced, and what the rate is of current blocks. This live update is fully integrated and offers a visual depiction of what is going on with ARK.

Associated Fees

To send it costs 0.1 ARK which at this time would be $0.4 cents. Voting is 1 ARK, removing a vote is 1 ARK, registering a delegate name is 25 ARK, and registering your 2nd passphrase is 5 ARK.

They do say that after their next core update ethics will be significantly reduced with the amount being 0.01 ARK to send, 0.02 ARK to vote or unvote, 10 ARK to register a delegate name, and to have a 2nd passphrase it would be 1 ARK.

History

They launched publicly in 2017 and work as a decentralized global team. They have teamed up or have gained popularity with Forbes, Yahoo Finance, and many popular exchange marketplaces.

The team consists of 17 people with the head developer being a founder of Adora. He has a background as an entrepreneur for other successful endeavors.

Trading Volume

If you look at the historical trading for this coin, it has seen a major jump in value with a peak of around $10.20 which is stabilizing at the time of this review. They launched and had a major increase of value after hitting any of their goals. They also offered Java support which allowed for many programmers to take part of the ARK blockchain.

The company has also allowed many major tools such as different kinds of wallets, and they’ve also corrected some issues that were noticed by early adapters. All this amounted to an increase of profit for ARK.

Ark Marketplaces

Many marketplaces offer it with trades offered for USDT, BTC, ETH, GBP, and KRW. You can get it on popular trade sites like Binance, Bittrex, Upbit, and many other sites.

To find all the available locations we recommend looking at the market updates on the official Ark website.

Ark Wallets

Free downloads are offered on the official website such as a paper wallet, web lite wallet, and a desktop wallet. This is made customized especially for ARK coin.

After you select the wallet of your choice you’re also allowed to vote for a delegate of your choosing for 1 ARK. You can review what they’re working on and decide if it fits the criteria you’re looking for.

Voting for Delegates

Once a wallet is finally actualized, then you’ll be able to start making decisions on who you think would best represent you.  A delegate can be chosen as soon as you add some ARK to your private wallet.

After you add ARK you can go to the tab labeled ‘Voted’, ad this point you ‘Add Delegate” and you’ll see an option to select who you think is best suited.

You’ll then be able to see which delegated you’ve chosen, and you can moderate and vote. After you click on ‘Vote’ tab, you’ll be able to select who you prefer.

After you make your selection you will confirm that that’s who you’d like, and you’ll be asked to add your passphrase to secure your vote. There is an additional 1 ARK charge anytime you wish to unvote or select another candidate. This is of course going to be changed when Ark has a new update, which will then be 0.02 ARK.

Ark vs Ethereum

Ethereum is a popular cryptocurrency that offers a decentralized blockchain that helps to make a global computer. This allows for people to regain control of apps by allowing people to make their own decisions, instead of a larger company. This can also work for a wallet which can retain creative rights.

Ark vs Lisk

Lisk came out in 2016 and they offer a blockchain platform for people to make decentralized apps. They are working easing scalability for other cryptocurrencies, by allowing sidechains to work alongside the already existing blockchain. This is also customizable and allows people to make code and produce algorithms of their choosing.

Ark vs Neo

With NEO you can take advantage of their non-profit blockchain technology to help make secure currency transaction. This allows for transparency and registration of many types of currency. They also hope to help build a more reliable and more manageable economy. Currently NEO sits at a $109.92 USD price which has been increasing in value.

Ark vs OmiseGO

OmiseGO offers a digital wallet that uses the Ethereum platform. This works for any kind of fiat currency and is fully decentralized. To start working with it there is no need to provide a bank account, and they allow for quick and low fee transfers. This is useful for payroll, e-commerce and any kind of business which requires transacting money.

Ark FAQ

  1. What’s a solid Ark coin prediction?
    We can’t say for certain since there is no way to verify without a doubt that any coin will decrease or rise in value.
  2. Where can I find Ark coin news?
    The official website has updated news and you can also find them on many cryptocurrency news websites.
  3. Is there an Ark coin Reddit page?
    They do with a total of 20,336 readers and it is: https://www.reddit.com/r/ArkEcosystem/
  4. What’s a good Ark coin wallet?
    Their official website has resources including a paper wallet, desktop wallet, and a web lite wallet.
  5. What’s a solid Ark price prediction?
    No official price prediction can accurately say what the cost may be, but it has increased from when it initially was released.
  6. What is the Ark cryptocurrency price?
    This price can always change and marketplaces have their own fees, but as it stands it is worth $3.60 per token.
  7. Where can I buy Ark?
    Current marketplaces include Binance, Bittrex, Upbit, Bit-Z, OKex, Cryptopia, Abucoins, COSS, and Cryptomate.
  8. What is Ark coin?
    Ark offers regular consumers the opportunity to use blockchain technology all with a decentralized platform.

Summary

The amount of information provided by Ark shows their dedication of making a streamlined and easy to use blockchain. The way they customize it and allow for people to take part in a democratic delegate voting system is also useful. This ensures that the best interest of users is upheld, and that everyone gets a say for a small fee. The simple blockchain can be reproduced and changed in the way a company sees fit.

Additionally, the company has seen large growth and their whitepaper shows how much emphasis they’re placing on making a functional and simple system. They have made the process fast and they are transparent in highlighting the mining being done. The power of giving people many kinds of popular coding options also ensures that many groups can take advantage of Ark.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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