publish2018-03-29 8:12 pm

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A Review on Ark

There are so many different cryptocurrencies out there right now. One could wonder which one will grow and end up potentially becoming the next bitcoin. Cryptocurrency is certainly an attractive new market to invest in and potentially make more revenue. Blockchain technology will continue to grow and become more advanced. Different cryptocurrencies will continue to pop up. The cryptocurrency world can indeed become very complicated. Especially with so many different types of coins. What if you are shopping for a service and the people who offer the service only accept a type of cryptocurrency that you do not have? It can cost a lot of time and money to convert one coin to the other.

ark homepage

Ark is more than just a cryptocurrency

Is a cryptocurrency based in France. Some of the same developers of the cryptocurrencies Lisk and Crypti created Ark. These developers had a vision that ended up being revolutionary. And Ark offers innovative technologies which make the conversion of most cryptocurrencies a simple and at pretty much the click of a button. No more having to pay a fee to convert one coin to the other. When you buy this, you’re buying more than just token. You are buying every cryptocurrency known. This is the only coin out there that allows you to convert it to any other type of cryptocurrency. This makes a good investment choice, as this ensures everybody will need it as more different cryptocurrencies continue to pop up. Ark is almost a necessity if you want it to convert cryptocurrency with ease. It is an almost revolutionary blockchain technology. And it is so small and easy to invest in at this time with the price only just above 3 dollars at the time of this writing. If you are new to the world of cryptocurrency, it may be wise to go buy some Ark since it makes the blockchain world so accessible.

SmartBridge Technology

The innovative technology that makes this coin so special is known as SmartBridge. While other cryptocurrencies run on their own individual technology, Ark runs on a new innovative technology that allows bridged blockchains. This sets coin apart from other cryptocurrencies as it is not just an ordinary cryptocurrency but a gateway to all cryptocurrencies. It is an entire “ecosystem”.  This is one good reason why it is a good idea to invest in this token.

All other blockchains need is a small bit of code and it can automatically connect to it. Almost all known cryptocurrencies have this small bit of code and are compatible with  SmartBridge technology. You have the SmartBridge option available whenever you make a transaction using it in wallet. This makes it so you can convert Ark to any known cryptocurrency right on the spot. This could end up being very useful as different blockchains take over.

Ark is a gateway to any cryptocurrency

More cryptocurrency keeps becoming SmartBridge compatible. So an idea would be to use Ark as the main cryptocurrency, so you can easily convert it to any type of coin that you need.  Ark, at this time, would be the only cryptocurrency that you could, using its own innovative SmartBridge technology, convert it into that one cryptocurrency quickly and conveniently. This could save a lot of time and effort. This is the only cryptocurrency right now that could function as a gateway to buying any cryptocurrency that you want to invest in. This is because Ark’s technology is completely open-source. This makes this crypto a very attractive choice for investors and could lead to growing and potentially taking over. Is like a gateway to all cryptocurrency.

Create your own blockchain with Ark

Ark makes it so you create your own blockchains with a simple press of a button. Users will be able to customize it as they please and will offer all of the same features that Ark offers. You can name the this coin clone whatever you please. The opportunities are limitless.

Delegated Proof of Stake

Another good thing about it is the Delegated Proof of Stake(DPoS). The DPoS could be considered an improvement on the usual POS system. And only a few other cryptocurrencies use the DPoS consensus mechanism. Cryptocurrencies that use this system are generally more stable.

Fifty-one elected delegates run the network. These trusted elected delegates make sure every transaction is done fairly and correctly. The system of electing trusted delegates makes it so that the blockchain runs smoothly and will likely keep Ark a fast cryptocurrency, as there is no extra need for any added security. It is more secure than the Proof of Work(PoW) mining operations such as Bitcoin, because not just anybody can accept the transaction. That is if you consider miners just anyone. DPoS gets transactions approved almost immediately whereas PoW mining operations have to get approved through a set number of nodes.

Another good thing about the DPoS is that it ensures that the trading of coins will use less energy than cryptocurrencies such as bitcoin. Cryptocurrencies that use DPoS are significantly eco-friendlier than cryptocurrencies that use Proof of Work mining operations. Ark, when compared to bitcoin, can save the world money on electricity.

Invest in Delegates by voting for them, Earn more Ark, and earn more money!

There are no data miners in Ark, but there is an excellent tradeoff.  Much like miners in Bitcoin, the 51 delegates earn block rewards. And you earn a piece of their rewards based on how much token you use to vote for them. Everybody who has Ark has the ability to vote for delegates by investing coins in the delegate of your choice.  People who have coin can invest to a delegate of their choice and make more . If a delegate isn’t doing the job well, most people will not invest bitcoin in that person anymore, and a better delegate will be voted in. You can vote for anyone you please. You can vote for who you think could be a good likely contender for a delegate position. You could vote for a friend or you could even vote and invest bitcoin in yourself. Registering your own delegate costs 25 ark.

Voting and unvoting both costs one . The more Ark you have, the more voting power you have. Investing  in a good delegate or investing in someone who you think will likely be a popular person to invest in are very certain methods to make consistent and almost nonstop income. Most delegates get paid on a daily or weekly basis. You’ll see the increases of the coin you invested in them at the same rate they get paid. When they get paid, so do you. Investors are not going to want to lose that source of income, thus the chances of them giving up on Ark are going to be low. There will be plenty of long-term holders of crypto and the prices of it will likely remain stable as a result. In fact, most Ark remains in this system and further ensures that will probably remain a good investment.

Ark will likely remain fast, even if it suddenly gets big like bitcoin

Ark is one of the fastest in the industry, with 8 second transaction times. Goal is to keep the core of the blockchain simple and fast. The SmartBridge technology removes all unnecessary functions from the core blockchain and makes them into many side-chains. This should ensure that no matter how much Ark grows, it could remain one of the fastest cryptocurrencies out there.

Ark will also remain fast because of the DPoS. Transactions only need to be approved by one trusted node and are thus faster than PoW mining operations. In fact, DPoS technology could speed up transactions to the point that it could compete with the speed of credit card transactions.

A moderate amount of coins in circulation

It’s smart to invest in cryptocurrency that doesn’t have too many coins in circulation. There are only around 100 million coins in circulation. A cryptocurrency with around this amount makes it so there’s a higher likelihood that there will be an even distribution of coins. This makes it so ordinary people can come in, buy, and have a better go at making more money in the blockchain world. Cryptocurrencies with too many coins in circulation usually have an elite few who have most of the coins and makes it so nobody really has a good chance for any significant growth.

Fees

It does charge a 0.1 ark fee for every transaction, which is pretty high. Registering a second passphrase costs 5 ark. These high fees could be a reason to deter people from wanting to use this token.

They do plan on lowering the fees significantly as grows in the near future to make the platform even more accessible. So, do not let the high fees stop you from investing in Ark. They plan on lowering the voting and unvoting fees to 0.02 ark. Registering a second passphrase will be lowered to 1 ark, registering your own delegate will be lowered to 10 ark, and transaction fees will be lowered to 0.01 ark. As they lower fees, more people will be interested in investing in ark. It means you will make money using it. And the value of it will go up due to more people investing.

Risk

There is a risk that another developer will create a different way to bridge different blockchains and cause investors to lose faith in the Ark. Maybe some of the other cryptocurrencies which use DPoS will push Ark down. It isn’t smart to assume that, even with its unique innovative SmartBridge technology, that it will end up being the ultimate cryptocurrency. There is a risk in every investment and there are always competitors. If you feel that, after thorough research, that Ark is a good coin to invest in, then invest in it. Just keep in mind there are ways can fail just as any cryptocurrency can.

How do you buy Ark?

Ark provides it’s own wallet that you can download from the Ark website. Some people, such as on Reddit, believe that wallet is one of the best in the industry. It is up and running as soon as it is installed as you do not have to download the whole blockchain in order to use it. Ark’s wallet has a vote tab that you can press and choose which delegate to vote for and thus get paid out for voting for that delegate on a weekly or daily basis. The return you get for investing is estimated to average around 10 percent per year.

You don’t need to use wallet if you don’t want to. If you want to vote for delegates with any wallet, you will need to download and install Ark-Desktop : https://github.com/ArkEcosystem/ark-desktop/releases

And you can buy it using any of the exchanges listed here: https://statrader.com/exchanges/

And because how easy it is to convert this coin to other cryptocurrency using the SmartBridge technology, this could be the last time for a while that you will need to use an exchange to convert your coins to most other forms of cryptocurrency.

ark wallet

Conclusion

Ark as a cryptocurrency and an entire blockchain ecosystem has a lot to offer the world. With the advantage of having the new innovative SmartBridge technology, having the faster and more secure DPoS system, it’s a wonder why Ark isn’t a much bigger cryptocurrency than it is today. Many of those cryptocurrency giants have plenty of advantages. But Ark may never need to compete with the giants. The best cryptocurrency doesn’t necessarily have to be the biggest and most popular cryptocurrency. This could very well be the ideal cryptocurrency. One day, we might wake up with it as the next Bitcoin. But even if Ark remains an underdog, it is still worth investing in just for how convenient it is to convert it to any other cryptocurrency. And for its security and stability. The stability of the loyal investors sticking with Ark makes it almost like the Blockchain version of investing in Gold. Even if this cryptocurrency stays small, it will likely remain a good investment.

Links:

Website: https://ark.io/

List of Exchanges where you can buy it: https://statrader.com/exchanges/

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