publish2018-03-29 8:12 pm

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A Review on Ark

There are so many different cryptocurrencies out there right now. To put into comprehensible terms, crypto currency is digital or electric money that is generated from code. It aims to solve failures of centralized money system as it is a monitored by a peer to peer internet protocol making it highly decentralized. One could wonder which one will grow and end up potentially becoming the next bitcoin which is quite popular from those working in Wall Street to mere school graduates. Out of all the 1609 cryptocurrencies in the market, Ark is one of leading ones virtual currency platforms and boasts an enormous market cap.

Cryptocurrency is certainly an attractive new market to invest in and potentially make more revenue as it has been propelled to becoming a global phenomenon. Dubbed as the future by many, blockchain technology will continue to grow and become more advanced as more and more financial institutions such as banks slowly find ways to integrate virtual currency. Blockchain technology seeks to ensure that the virtual currency market is safe as transactions are publicly recorded and this makes trading in virtual currency harmless.

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? Or perhaps imagine a society in which financial institutions accept virtual currency as a means to settling a payment on mortgage. 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

Ark is a cryptocurrency based in France. Some of the same developers of the crypto currencies Lisk and Crypti created Ark. These developers had a vision that ended up being revolutionary. And it offers innovative technologies which make the conversion of most cryptocurrencies a simple and at pretty much the click of a button. They had a revolutionary concept that materialized into this crypto currency being more than just digital currency.  No more having to pay a fee to convert one coin to the other. When you buy Ark, you’re buying more than just virtual currency. You are buying every cryptocurrency known. It is the only coin out there that allows you to convert it to any other type of cryptocurrency.

Apart from being a tradable virtual coin, Ark links all the other virtual currencies and it does so efficiently and effectively. This makes it a good investment choice, as this ensures everybody will need it as more different cryptocurrencies continue to pop up. It adds value to consumers who might need an extra punch of features on their virtual currency.

This virtual currency is almost a necessity if you want it to convert cryptocurrency with ease. It is an almost revolutionary blockchain technology that utilizes conversion of virtual currency from one to another making it stand tall among other virtual currencies. 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. This makes it one of the most affordable and advisable virtual tradable coins in the market. The ease at which one can invest in Ark start trading is quite breathtaking. If you are new to the world of cryptocurrency, it may be wise to go buy some since it makes the blockchain world so accessible.

SmartBridge Technology

The innovative technology that makes Ark so special is known as SmartBridge. While other cryptocurrencies run on their own individual technology, it runs on a new innovative technology that allows bridged blockchains. What makes Smart Bridge so cool it the ability to allow other cryptocurrencies to connect and communicate in between the blockchains. This sets it 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 crypto currency. With this special one of a kind technology, is that every holder of an Ark coin becomes more powerful having the potential to reach greater multitudes than other coin holders from different cryptocurrencies.

All other blockchains need is a small bit of code and it can automatically connect to it. Using a special data segment known as Vendor Fields, SmartBridge is able to communicate in between the blockchains. Almost all known cryptocurrencies have this small bit of code and are compatible with Ark’s SmartBridge technology. You have the SmartBridge option available whenever you make a transaction using it in Ark’s wallet. This makes it so you can convert these coins into any known cryptocurrency right on the spot. This could end up being very useful as different blockchains take over.

ark smartbridge

The primary idea behind the integrated SmartBridge technology is to allow consumers of the virtual currency market to be open to the various blockchain networks while simultaneously being utilized without constantly changing coins between competing cryptocurrencies. It makes it possible to be able to bridge the gap between different blockchains, making it a good investment option

Ark is a gateway to any cryptocurrency

More cryptocurrency keeps becoming SmartBridge compatible. So an idea would be to use this particular one 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. Ark 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 its technology is completely open-source. This makes it a very attractive choice for investors and could lead to Ark growing and potentially taking over. This makes it 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. Blockchain technology has presented a confusion problem behind the science that propels it. In a nutshell, blockchain technology is a shared database that will always be confirmed and encrypted. Think of it as a decentralized public ledger displaying every piece of transaction to ever have taken place on the grid. Its blockchain is smart in the sense that every single ark coin can be traced and tracked making it hard to steal coins. It allows a secure and efficient to trade and as it is highly accountable and has records especially when compared to traditional systems that are expensive, time consuming and bureaucratic in nature.

It is important to note that blockchain cannot be tampered or interfered with. 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 ark clone whatever you please. The opportunities are limitless and here customers should be able to feel secure.

Delegated Proof of Stake

Another good thing about this type of coin 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 Ark 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 it 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. When compared to bitcoin, it can save the world money on electricity.

DPoS, a voting system, also ensures that the risk of a takeover is close to zero as this cryptocurrency makes it possible to have a more decentralized system that works better than other models

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 in Ark earn block rewards. And you earn a piece of their rewards based on how much Ark 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 ark can invest coins to a delegate of their choice and make more ark. 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 Ark. The more Ark you have, the more voting power you have. Investing Ark 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 Ark 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 Ark and the prices of Ark will likely remain stable as a result. In fact, most Ark remains in this system and further ensures that Ark will probably remain a good investment

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

It is one of the fastest in the industry, with 8 second transaction times. Ark’s 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 it grows, it could remain one of the fastest cryptocurrencies out there. Its success can be notably credited to the speed at which transactions are conducted. Documented speeds show that Ark is the industry leading fast crypto currency well above other big virtual currencies like Bitcoin and Ethereum. This put it at a great leverage over it counterparts making it a wise investment opportunity to the virtual currency world.

Those who invest in these coins will enjoy an extremely scalable venture which simply translates to the ability of Ark to handle large users and transactions with ease. The infrastructure put in place will ensure that large workloads and transactions are handled well with little or no strain.

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 Ark 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 Ark, 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. A limited amount of coins in circulation guarantees the value of a coin is maintained and reduced chances of depreciation while keeping market anomalies like inflation at bay.

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 Ark.

They do plan on lowering the fees significantly as it grows in the near future to make the platform even more accessible. So, do not let the high fees stop you from investing here. 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 this type of cryptocurrency. And the value of the coins will go up due to more people investing.

Despite the relatively high charges, compared to traditional systems the fees are fairly low. When it comes to cryptocurrency bear in mind two types of costs involved; the cost that is a result of transacting cryptocurrencies and the cost of maintaining and hosting virtual currency that are involved. To lure customers in, the fees charged here is considerably lower than that of traditional financial institutions such as banks. Normally, there are no transaction fees in other virtual currency domains as the miners are compensated by the network itself.

Invest in Ark it is Readily Available to all

There are just over 2 billion people in the world who have access to mobile phones and internet as well. The internet and the digital media at large are the primary facilitators of the exchange of cryptocurrencies and trading as well. Investing in these coins is as easy and does not consume time. Creating an account and an address here takes less than 5 minutes. In the traditional system, account creation takes a fairly longer time and can be complicated at times. Through the Ark Wallet an individual can purchase ark and start investing. The virtual currency eco system here provides the perfect platform to make asset transfer and transaction to this wide and ever growing market, having earlier seen the infrastructure put in place will be more than ready to support this.

Immediate Settlement on Asset Transfers

The whole aim of crypto currency is to eliminate and cut off the ‘middle man’. Transactions can be described as one to one meaning you will be directly in contact with the involved party meaning there is less confusion and there is great accountability and audit. Contracts are designed and created to eradicate the interference of a third party. This in turn reduces delays and lags that may arise as a result of third parties. It also reduces the cost on investing as payment fees involved with the middle men are eliminated.  The blockchain protocol promises a fast and near real time clearing of financial interactions. The lack of regulation acts in favor of cryptocurrencies allowing funds to be moved instantaneously around the world.

Ark as a cryptocurrency can be described as a ‘large property rights database’ which can be used in reinforcing a two party contract on items such as real estate and vehicles. It takes it a notch higher as its special blockchain allows special modes of transfer especially when using Smartbridge that links other virtual currencies. As a holder of these coins, you will have precedence over your own account and it will be exclusive to only you. This safeguards your privacy of your financial reports protecting you against the constant threats of identity theft which may be prevalent in traditional systems.

International Trade Simplified

It is important to acknowledge that the virtual currencies are not affected by international exchange rates and are neither influenced by interest rates and transaction charges set by a specific country. The peer to peer internet protocol ensures transactions over different countries and asset transfers are carried out without any complications. It also allows those with the Ark wallet to make transactions that have no limits, to anyone in any place of the world. The transaction cannot be stopped or regulated this makes it easier to deal with anyone around the world. Once the transaction is done it cannot be reversed.

Security is maintained at the Highest Level

Ark is as secure as any other cryptocurrency and they go as far as needed to ensure that high levels of security are observed. For instance, as mentioned earlier, transactions cannot be reversed. Once payments in this system are made it is impossible to reverse. The Ark coins thus cannot be duplicated, spent twice or faked. This means that the levels of integrity and accountability are of the highest caliber. The Ark system is foolproof just like any other major cryptocurrency. In addition your identity is kept private and anonymous at the same time maintaining full transparency. An individual or company can create an infinite number of Ark addresses without references to a particular name, a place of residence and any other information.

The blockchain technology makes sure every transaction to have ever taken place is recorded and this certifies transparency. It leaves no chance to personal data fraud also known as ‘identity theft’. This is a fairly important point as it is relevant in today’s credit card system as most transactions are done through this medium. This makes this system quite unreliable and secure because most websites will require an individual or company to fill out a lot of key details before completing a transaction. In addition credit can be stolen. Ark virtual currency curbs against this threat the same way bitcoin would. A holder of an Ark wallet would have a private key that is known to only the holder. The electronic payment system is designed in such a way to make sure the account belongs to the owner only.  As mentioned earlier, transactions do not require details of an individual to be disclosed and this does not make customers who invest in Ark vulnerable.

Ark Is Self Sustaining

The primary function of Ark it to try as much as possible to convey their services to consumers with ease. This means that during both offline and online durations, streams of revenue will still continue to be generated. The peer to peer server ensures that there is no master server that is in charge of all operations. Decentralization also aids in this area since there is no central power in the network, it means that distribution of the network is even to all participants. This guarantees that operations are stable because there is no central grid that dictates actions of all coin holders quite similar to how bitcoin runs. This warrants a refined and polished consumer experience.

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 this is a good coin to invest in, then invest in it. Just keep in mind there are ways it can fail just as any cryptocurrency can.

Keep in mind that virtual currency has no backing like a gold reserve system and means it’s prone to high and low fluctuations in price. It also means that cryptocurrencies can lose their value in a small time or its value can shoot to astronomically high numbers. In addition the decentralized technology involved with virtual currency has not yet been backed by most financial institutions. The structures put in place do not suggest that virtual currency can be used in the near future as a way to settle payments. The issue of virtual currency still continues to confuse the boundaries of legal statues.

How do you buy Ark?

The virtual currency provides its own wallet that you can download from the Ark website. Some people, such as those on Reddit, believe that its 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. This virtual currency’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 Ark’s 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 these coins 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. The future of virtual currency could be bright if other conditions both formal and informal are fulfilled. It has the potential to replace traditional and convectional systems of payment. 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.

Ark could very well be the ideal cryptocurrency. One day, we might wake up with Ark 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. Before investing in this market, consider that most people consider this as but a mere trend and something that won’t hold grounds in the future of currency with countries such as China banning the cryptocurrency market. However other countries such as Russia acknowledge the presence of the virtual currency and encourage purchasing commodities with the same. Japan too has embraced the cryptocurrency and in some places they accept payments in virtual currency.  In other areas of the economy such as gambling and betting most casinos have taken up the global trend and have used virtual currency as a method of payment and in doing so has fueled the popularity of cryptocurrency.

The stability of the loyal investors sticking with Ark makes it almost like the Blockchain version of investing in Gold. Even if it 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/

GitHub : https://github.com/ArkEcosystem

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