ARK is a blockchain technology platform that involves a combination of different blockchains and technologies. Find out how it works today in our ARK review.
What Is ARK?
ARK is a blockchain technology platform made by the ARK Crew. The primary objective of ARK is to increase consumer adoption of blockchain technology. To do that, ARK Crew has focused on two core areas, including its fast, secure core technology and practical services for real people.
ARK is also known for its decentralized cryptocurrency (ARK), which lies at the center of the ARK ecosystem.
ARK’s contribution to the blockchain community, among many other things, is its introduction of delegated proof of stake consensus algorithms. This is designed to solve the shortcomings of conventional proof of stake of proof of work blockchains.
In layman’s terms, ARK wants to make it easier for ordinary people to use the blockchain. Here’s how the ARK whitepaper explains it:
“Bitcoin brought us the blockchain. Ethereum brought us smart contracts. Altcoins brought us their unique features. So where are the services for the ordinary consumer instead of only speculative instruments for the trader?”
With that in mind, ARK is creating an ecosystem that aims to facilitate consumer adoption into blockchain technology.
Most people today know ARK for its cryptocurrency. However, ARK describes itself as “not just a cryptocurrency – it is an ecosystem meant for cryptocurrency mass adoption.”
How Does ARK Work?
ARK Crew has built their ARK platform on top of a highly secure core blockchain. They’ve made this blockchain by integrating key decentralized technologies. Along the way, they’ve created use cases to show off the abilities of the ARK network.
ARK Crew provides a user-friendly platform to increase user adoption of blockchain technology as a whole. That “platform” consists of several main parts, including all of the following:
The ARK Community
The ARK community is a diverse group of people and skill sets, including everyone from full stack developers to musicians and business owners. This community is, according to the ARK whitepaper, “uniting to realize a vision shared by 30 members of the ARK Crew.” Each member is devoted to promoting and developing the ARK ecosystem over time.
An Underlying Token
The ARK token is secured by a cryptographic blockchain network that has most in common with Lisk and Crypti. It runs on a deleted proof of stake consensus algorithm created by Bitshares. ARK DPoS provides a newly adapted voting system and incorporates many improvements over previous DPoS implementations.
Bridged Blockchains Connected With SmartBridge
Up above, we mentioned that ARK was a series of blockchain technologies. The ARK Crew has done this on purpose to “increase the reach of the ARK platform”. They’ve bridged together useful and proprietary blockchains through a technology called ARK SmartBridges. SmartBridges allow for communication among validated bridged blockchains with the ability to perform tasks and advanced functions. In other words, the ARK Crew can connect many popular blockchains and create a unifying bond among different ecosystems. So far, they’ve linked bitcoin, Ethereum, Lisk, third party anonymous network, multiple gaming economy tokens, and other bridges connecting new blockchains.
ARK has incorporated cryptographic and security principals throughout the entire development life cycle to guarantee a secure core. Like most other blockchain platforms, ARK puts a big emphasis on security.
In addition to security, ARK puts a big emphasis on privacy through something called ARK Anonymous Network Integration, which gives ARK users optional privacy when sending ARK transactions. This anonymous layer of protection is available for all ARK services. The developers also explain how this anonymization could extend to third party services.
The ARK Crew has a mission to make blockchain technology more accessible to customers “even to the point where consumers do not know that they are using it”, explains the ARK whitepaper. The ARK ecosystem is designed to be self-sustaining through the continuous creation of unique services that “consumers want, understand, and are willing to purchase using ARK.” Through this system of research and development, ARK will be self-sustaining.
The ARK whitepaper goes into deep technical detail about all of the above features, including the unique delegated proof of stake algorithm. Obviously, it’s a complex and unique blockchain technology – so if you need any clarification on the above features, then the ARK whitepaper is worth a read.
ARK is the world’s first delegated proof of stake (DPoS) consensus based cryptocurrency and blockchain platform. It’s a decentralized digital asset based on an advanced blockchain technology. That blockchain technology incorporates other technologies from the cryptocurrency ecosystem. Altogether, the platform is built for mass consumer adoption and provides extensive capabilities with the general public in mind – including everything from cross-blockchain communication to contactless credit card support.
ARK is obviously an ambitious project with a lot of moving parts and elements. You can learn more about ARK by visiting ARK.io