Ark (ARK) is a blockchain project with a pretty simple, yet broad, goal of bringing blockchain technology to the masses. It plans on doing this by allowing developers to create their own blockchain technology on the Ark blockchain, which will eliminate the need for businesses and individuals to develop their own blockchains.
Anyway, this article will cover exactly how Ark works and if the coin itself has any investment potential.
How Ark Works
The basic concept of Ark is actually pretty simple – it’s essentially a sandbox blockchain that allows anyone to build their own blockchain on top of the Ark blockchain. This has a fairly big use case because it allows developers to use Ark as a foundational blockchain rather than building their own blockchain.
Now, that’s not the only use for Ark. In our opinion, the biggest benefit of Ark is something called SmartBridges. What are SmartBridges and why are they so important?
SmartBridges allow Ark to communicate with entirely different blockchains like Ethereum and Bitcoin. In other words, the SmartBridges allow interoperability, which is something not typically offered on blockchains.
We would rank SmartBridges as the most important feature of Ark. Other important features include support for multiple programming languages on the blockchain and the ability to easily fork the main Ark blockchain for modification.
Delegated Proof of Stake
Ark is a delegated proof of stake cryptocurrency, which is different from a standard proof of stake cryptocurrency. Basically, delegated proof of stake means that users choose validators to operate the nodes. In the case of Ark, there are 51 delegates that operate the blockchain.
Users cast a vote for a delegate and the delegate then decides how to disburse the block reward. Some campaign on evenly splitting the block reward amongst voters while others choose to invest the reward into development or other projects.
The block speed on Ark is also fast at 8 seconds per block, which is nearly twice as fast as Ethereum’s 14 second blocks and much faster than Bitcoin’s 10 minute blocks.
We like the fast block speeds of Ark.
Ark Coin – Financial Details
Ark Coin (ARK) is a somewhat popular and valuable cryptocurrency with each coin being worth around $3 and a total market cap of about $350 million. This makes it the 158th largest cryptocurrency by market cap.
The all time high was about $8 in January 2018 during the ICO bull run that lasted from 2017 to the beginning of 2018. Sadly, the price has stayed under $1 for most of the time after that up until just a few months ago when the price jumped to $3 due to the current cryptocurrency bullrun that started in 2020 and has continued on to the time of writing.
A price increase like that is always a good sign.
The total supply of Ark is unlimited, which is generally considered a negative. Fortunately, the planned inflation of Ark is relatively low at only 6% and decreases a small amount every year.
Exchanges That Support Ark Coin
There are a handful of exchanges focusing on altcoins that support Ark Coin. The two most popular exchanges, however, for Ark Coin are Binance and Bittrex. Binance is by far the most popular exchange for Ark Coin as it has the largest trading volume.
We recommend purchasing Ark Coin on Binance.
Ark Coin Wallets – Where to Store Ark Coin?
There is a desktop, Android, iOS, and a paper wallet available. All those options are official.
Additionally, Ark Coin can also be stored on a Ledger hardware wallet, which is likely the safest option.
It is generally not recommended to store cryptocurrency on exchanges as exchanges can be and have been hacked in the past (ie. MtGox).
Who Founded Ark?
Ark was founded by a small group of 23 developers across 4 different continents in January 2016. In that way, it is a decentralized leadership structure that has lasted for over 5 years.
Decentralization like that represents everything that cryptocurrency stands for and is something that those heavily into cryptocurrency always like to see.
Ark Coin Price Predictions – Will Ark Coin (ARK) Go Up?
As we always say, we do not have a crystal ball that allows us to see into the future. However, Ark is one of the more promising cryptocurrencies in the space and is slightly undervalued for the value that it offers with interoperability between blockchains.
Remember, the all time high of ARK is $8 and it’s currently a hair under $3. That means there is a lot of room for ARK to increase in price. Especially because the development team has big plans for the future with increasing the amount of programming languages, increased interoperability, and more.
For those reasons, we personally class
ify Ark Coin as a good investment. But please, do your own research (DYOR) into the cryptocurrency before making an investment into it.
That’s about it for our very brief overview of Ark Coin. This is a cryptocurrency project that we actually like and that has big plans for the future. It’s undervalued at $3 in our opinion, which makes it a wise investment if you want to pad out your altcoin portfolio.