Ark platform. What’s this?
ARK blockchain platform allows users to create stand-alone interoperable blockchains using different programming languages without the use of smart contracts.
Ark Core is the main blockchain of the platform on which networks of the clients are based. It is responsible for verifying peer-to-peer transactions and serves as the decentralized ledger for all transactions. Generic Transaction Interface (GTI) supports custom transactions with multiple signatures and payments.
ARK Core is open-source and runs on a Delegated Proof-of-Stake (DPoS) consensus mechanism where network node operators are delegates. This method is similar to Proof-of-Stake, but with the slight difference: token holders vote to elect delegates to do the validation on their behalf.
The blockchain generates blocks at an average speed of 8 seconds with the DPoS algorithm. Therefore, many developers and founders of decentralized applications choose Ark as a platform to implement their ideas.
Independent blockchains built on ARK Core also achieve consensus through delegated proof-of-stake. However, the delegates are chosen by the users of the independent blockchain network.
Separate blockchains are connected through smart bridge technology. They share information and transfer various functions from one chain to another. Thus, ARK serves as the intermediary between the blockchains.
Ark Crypto. Price Forecast
ARK is the native token of the ARK Core blockchain ecosystem. 100 million ARKs were created following a public offering in 2016. In September 2022, the circulating supply of ARK coins was over 130 million but its max supply is unlimited.
The ARK token has experienced several price fluctuations over the years. The maximum price of the altcoin was $10 in 2018, after which the price dropped and for a long time the asset was trading below one dollar.
According to the Wallet Investor analysis center, the ARK may rise to $4 by the end of 2025. The Digital Coin Price crypto forecast shows that the token price may jump to $6.48 in 3 years.
Is it possible to mine ARK?
The ARK cannot be mined because the platform runs on the Delegated Proof-of-Stake mechanism. ARK can only be minted by selected node operators, acting as delegates who oversee network performance. There are 51 delegate slots available on the network. Each elected delegate receives 2 ARK after the transaction is verified and the block is formed. ARK holders vote for delegates to run the network where 1 ARK token is equal to one vote.
Altcoin holders can only vote for one delegate with their wallet address. Node operators that want to be the delegates can gain votes by campaigning to coin holders.
Delegates have complete autonomy over the staking reward paid to them.
Every person without specific knowledge of cryptography can use the Ark platform, as it is built on Javascript and TypeScript, offering developer-oriented frameworks. It significantly simplifies the implementation of blockchain technology in various projects.
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