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ARK Blockchain Platform Introduces Dynamic Fees to Give Users Flexibility

Blockchain Start To Offer Dynamic Fees In Effort To Help Users Save Money On Transactions

ARK, a new blockchain startup, believes that the blockchain tech can be used to create practical services for people with speed and low cost. In a recent press release, the company talked more about its product.

The company intends to build an entire ecosystem that would encourage the mass adoption of cryptos via a user-friendly platform. The company is set to let the customers use the blockchain tech in a very easy way to create products that can increase its awareness and the general knowledge of the population about everything that it can be used for.

One of the main products of the company is the SmartBridge, which can be used to interact with other popular networks such as Ethereum and Bitcoin. It can be used to analyze the risks of a currency and to examine internal recurring penetration testing.

Another important product of the company is its wallets. They are completely syncless and can be used for very fast transactions, the company affirms. They are also compatible with all blockchains based in the ARK systems and can be customized with plugins. The wallets also use the hardware of the Ledger Nano for more security.

ARK affirms that another differential that the company has is that its services are considerably faster than most as the company is generally focused on offering the type of service that will never be too congested when it gets popular.

Scalability issues surely plague the industry, so the company was sure to design its products around it so that these issues will not affect the final product. SmartBridge, for instance, is able to use hundreds of parallel channels in order to make the transactions faster and it is great for scalability.

The Dynamic Fee System

One of the main selling points in the ARK Network is the dynamic fees. This is one of the first companies that actually are able to get dynamic fees that will let the customer decide how fast he wants the transaction to be for how much he wants to pay for it.

This creates a more flexible experience and can help both types of users, the ones who do not have a lot of money to spend in transactions and the ones who really need the speed and do not mind paying a little more for it.

The company is expecting to release ARK Core, which will be a complete overhaul of the system by late October or early November. According to the press release, the company already had 84% of the overhaul completed at the time of the report.

ARK Invest Crypto Analyst Shows Bitcoin Transaction Surpasses PayPal Value

Cryptocurrencies have long been compared to traditional systems. An area that was most compared is that of transactions, as consumers did not see the need for Bitcoin when existing payment systems already produce a great number of transactions per second. This is all about to change as a recent report shared by Crypto Slate revealed that Bitcoin’s annual transaction value has surpassed that of PayPal’s.

ARK Invest’s cryptoassets analyst, Yassine Elmandjra shared a bar chart that compared ‘Annual Bitcoin Base Layer Transaction Count’ of Bitcoin against different credit card companies such as Visa, UnionPay, MasterCard, Discover and PayPal. As per Elmandjra’s analysis, which looked at transaction value rather than its volume, Bitcoin is “an order of magnitude away from Visa,” adding that it has already overtaken the likes of PayPal and Discover.

Bitcoin still has a long way to go as its current $1.3 trillion transaction value is nowhere near Visa’s $8.9 trillion in 2016. However, instead of simply looking at volume, it is also important to assess market capitalization, where Bitcoin managed to achieve nearly ‘eightfold increase in transaction value,’ as per Crypto Slate. If the trends continue every year for the following years to come, Bitcoin has the potential to overtake Visa by 2022.

Bitcoin has always been perceived as an alternative to several payment systems in place, that is in terms of scaling high transactions, however, Elmandjra tweeted that Bitcoin’s transaction volume “was never supposed to” match that of Visa’s.

Since Elmandjra’s post, many Twitter users have questioned the legitimacy of his findings. One particular user noted that most of bitcoin transactions are based on “speculative trading”, making it unreasonable to compare it to Visa, which the user noted is based on use cases.

The user, dubbed, “antiprosynthesis”, believes a more suitable comparison would be that of the “trade volume of VISA shares.”

Another user, “Mary Bent”, shut down the prior comment by simply saying, “Bitcoin Protocol moves money. Visa moves money. Apples to apples.”

What are your thoughts on Elmandjra’s analysis? Was he right in comparing Bitcoin transaction to that of Visa’s? Share potential problems that may arise from this analysis in the comments below.

ARK Revamps Software Development Kits To Streamline Implementation

A new platform designed to bridge blockchains with special lines of communication called SmartBridges has been released to revamp SDKs.

The new announcement states ARK has redeveloped much of the code for the new project’s 15 SDK from nothing, to speed up the rate at which it can be implemented and maintained from the codebase. From this standpoint, ARK has rewritten the codebase by way of a separation of concerns or SoC into two base repositories: Crypto and Client.

Crypto: Gives better ability to manage transaction serialization called AIP11, deserialization AIP11, verifying transaction to make them more efficient.

Client: Gives better lines of communication among the public API and end user, while providing a simplified way to handle multiple connections.

The SoC is a principle of design to separate software into categorized sections to work as modularized layers of development. Ultimately, this gives each section its own separate level of functionality, making management better and simpler.

ARK also gives more details to developers wanting to start with SDKs, like links for repositories as well as clear documentation.

The cost of ARK has been in a steady downtrend over the last 90 days, from a peak of $3.91 to $1.20 prior to jumping back this week. The total of ARK’s market cap is currently $167 million.

More On Ark

The claim is ARK will improve the consumer adoption of the blockchain through focusing energy into two channels: fast secure core technology and real people using practical services. ARK is also a platform designed to bridge gaps between Bitcoin and Ethereum as well as other cryptocurrencies. ARK will ultimately lower the barrier or mainstream operations by making blockchain technology more accessible.

What are your thoughts on ARK? Will it greatly improve mainstream use or is it a waste of time? Leave your thoughts in the comments below.

Ms. Satoshi Nakamoto: ARK's Richard Titus Talks Women In Bitcoin's Creation

ARK Managing Partner, Richard Titus seems to have an opinion that could fascinate plenty of individuals on the possibilities of who created Bitcoin. At the recent World Blockchain Forum in New York, Richard took time to indulge in his discovery that Satoshi is, in fact, a woman and that he has known it quite a while.

In his presentation (The State of Digital Currency", Titus casually mentioned the Original Bitcoin whitepaper as "her whitepaper," and this did seem to spring up a reaction from the crowd.

Could Ms. Satoshi Nakamoto Have Created Bitcoin?

While the crowd did have an urge to divulge more on the identity, Titus took the elaboration to a whole new level by saying the Satoshi Nakamoto character is a group of individuals and the woman would only be part of the crew. In his statement during the presentation, Titus took time to elaborate

"I have an opinion on Satoshi Nakamoto's Identity." Richard said, "I believe that it neither a ‘he' nor ‘him,' but it is a ‘they. ‘To further his claim, he added, “I happen to know that one of those people is a woman."

ARK's Richard Titus Talks Women In Bitcoin's Creation

The possibility of finding who created Bitcoin fascinate a lot of people and almost everyone has a theory about Satoshi Nakamoto's identity. IN Richard's case, they could be some truth although hard to grasp. With the blockchain industry being male dominant, it would be difficult to acknowledge that a woman would be the true identity of the Bitcoin innovators.

Richard did also point out this reality during his presentation;

"My view is that with men taking credit for women's accomplishment for the last 150 years, why would we not let a woman take the mantle for their achievement this time?"

Still, the ARK Managing Partner did not indulge the audience enough on how exactly he knew the identity(s) of Satoshi.

Possibilities Of The Satoshi Search

The unique part of Richard's assertion is the fact that it's not the first serious claim of giving a lady the potential of being behind the Blockchain enigma. Most crypto enthusiasts would overwrite this as erroneous, but in a male-dominated sector, what are the chances that the powerful technology could stem from a lady? However, Richard Titus experience in cryptocurrency could merit the claims. Still, the only option is to await more investigations since Satoshi seems to enjoy the meaningful speculation by staying anonymous.


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