What is ARK Coin- Best Beginner’s Guide (How it Works?)

What is ARK Coin – Fast Secure Core Technology (ARK) is a decentralized ecosystem designed to increase users’ adoption of blockchain technology. The ARK team, self-proclaimed development team, has made clear in its white paper its intention to bring a chain of blocks to the general public by building “A Fast Secure Core Technology” with “Practical services for real people”.

ARK (A Fast Secure Core Technology): What is it?

Fast Secure Core Technology (ARK)

In simple terms, this team creates a sandbox ecosystem where businesses and other users can create their own blockchain from an ARK clone with just a few clicks. To make this ecosystem as accessible as possible, the team is dedicated to creating a good user experience and integrating as many block strings and encoding languages as possible.

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How ARK works

This team is integrating several notable features into its ecosystem – all with the fundamental and unified goal of making the blockchain more accessible to the world:

  • SmartBridges
  • Alternative programming languages
  • Blockchain deployable in one click

SmartBridges are used to “link” separate strings of blocks through the A Fast Secure Core Technology (ARK) central platform . Basically, ARK becomes the intermediary between the different channels, which allows them to communicate with each other and trigger events through the channels – which is not possible at present.

Enabling SmartBridges on a channel is as easy as inserting a piece of code provided by ARK.

Markets like Coinbase and Shapeshift also benefit from SmartBridges. These platforms can use encrypted listeners to support SmartBridge transactions while charging their normal transaction fees.

How ARK works

With the integration of alternative programming languages, almost all programmers can now confidently develop their software on ARK. At the time of writing, ARK (Fast Fast Core Technology) already includes support for:

  • Python
  • Elixer
  • CPP
  • Java
  • .NET
  • go ahead
  • PHP / Laravel
  • TypeScript API
  • nuclide
  • Ruby
  • Swift iOS
  • R, C, Advanced PowerShell, Rust, Kotlin and C ++ will be available soon.
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The blockchain deployable in one click can be used to easily create a fork of ARK and thus realize your own project. These forks are perfect for start-ups and come with many existing ARK functions. Best of all, strings deployed through this feature automatically have SmartBridges.

Proof-of-stake delegated
ARK operates using a consensus Proof-of-Stake consensus (DPoS) algorithm . Unlike Bitcoin, where miners with expensive platforms secure network transactions, the ARK network is secured by delegates. There are hundreds of potential delegates, but token holders in the KRG ecosystem are continually voting to determine who will be an active, forging delegate. Only 51 delegates can participate.

As a token holder, you can only vote for one delegate at a time. The right to vote is only 1 ARK, so it is advantageous to vote at least once for a delegate you support. The more ARK tokens you have, the stronger your vote.

Renowned delegates have written proposals that describe how they will operate. Many of those that are popular include profit-sharing rewards that they receive when they are forging new blocks. If you vote for a profit-sharing delegate, you actually earn dividends over time.

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Other delegates are motivated by the intention to fund development projects that give voters equity participation or provide services on applications that might not otherwise be profitable. With your vote, the choice is yours entirely.

The ARK ecosystem was launched with 125 million ARKs (A Fast Secure Core Technology) in the genesis block (the first) . Delegates are allocated 2 ARKs for each block they forge, and one block is forged every 8 seconds or so.

The ARK ecosystem

Assuming that the block duration of 8 seconds does not change, the expected inflation of the KRG will be 6.31% the first year, 5.93% the second year and will continue to decrease to 4.02% the tenth year. It’s a much less dramatic drop than Lisk and Ethereum.

The blocking time of 8 seconds puts ARK on the cryptocurrency side which has the fastest transaction times. In comparison, Bitcoin has block times of 10 minutes, Litecoin 2.5 minutes, and Ethereum transactions typically take 14 seconds.

Currently, the ARK network can process 25 transactions per block. However, the team stated in its white paper that it was intended to make this approach more scalable. To do this, it will reduce the block time and increase the number of transactions for each block.

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ARK system commissions

To send ARK, you have to pay a transaction fee of 0.1 ARK. This amount will change as the network grows and / or becomes more efficient. To register as a delegate, you have to pay 25 ARK and, as I mentioned earlier, voting for a delegate currently costs 1 ARK.

However, with the next basic update, these fees will be reduced to:

  • Shipping ARK: 0.01 ARK
  • Vote / de-vote: 0.02 ARK
  • Delegate Registration: 10 ARK

All fees are paid to the shipper delegate processing the block containing these charges.

A bit of history on ARK

ARK was launched in February last year by 27 members around the world . With team members throughout California and Bulgaria, the ARK Crew team is truly decentralized. The team is currently composed of 15 people.

The ARK infrastructure is closely modeled on three old projects: Bitshares , Crypti and Lisk. In fact, some of ARK’s developers were previously developers for some of these projects. François-Xavier (FX) Thoorens , the CTO, was lead developer for Lisk in 2016.

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The main similarity that ARK (A Fast Secure Core Technology) has with these previous projects is the use of the DPoS consensus algorithm.

ARK crypto trading

The price of most cryptographic currencies is determined by product development milestones and announcements of strategic partnerships.

ARK (A Fast Secure Core Technology) is no different.

ARK has seen some significant price increases since its lCO in 2016 . The first price spike came when the development team released a library providing Java support on the platform.

Java is one of the most popular programming languages and the added support has pleased many Java developers who were previously excluded from the program. There have also been lower price increases with each new language added.

ARK crypto trading

The largest increase in the price of the ARK Token coincided with two related events. In September, the ARK team released an update to its desktop portfolio that fixes many bugs identified by users. This update also included a partnership with Ledger, one of the most popular and trusted hardware hardware portfolios on the market.

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Where to buy ARK

Ark is primarily available on Binance as Bitcoin matched exchange value (BTC) . There are other stock exchanges that accept ARK, but their transaction volumes are much lower than those of the widely used Binance platform.

To buy ARK, I recommend you first buy Bitcoin on Coinbase and then transfer it to Binance. From there, you can buy ARK easily with a BTC parity for example.

The first thing to do is to register via our referral link Coinbase below to win € 10 in Bitcoin!

Alternatively, you can also visit the ARK website to see the complete list of platforms where it is listed.

Where to store ARK

The easiest place to store ARK (A Fast Secure Core Technology) is in one of the portfolios provided on their site. You have three options:

I use the Desktop Wallet almost exclusively. Of all the portfolios I’ve used, the ARK portfolio is by far the best. Once again, my weakness for a beautiful design makes the difference. The wallet is sleek and offers a lot of features without being cluttered.

Where to store ARK

I highly recommend voting for a delegate after sending your ARKs from a platform to the wallet. It costs only 1 KRG ($ 3.28 at the time of writing). You can use your vote to support a delegate who will pay dividends from block rewards or a delegate who is working on a cool project that you want to support.

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Ledger recently announced that it will now accept ARK (A Fast Secure Core Technology) in its hardware portfolios . With this support, you can store your ARK tokens more securely offline while still using the desktop wallet.

Votes of delegates

After installing your ARK desktop wallet, you should vote for one delegate. There are many choices, and all offer different ideas and payments for the community .

First, you need to transfer a little ARK into your wallet. Send the ARK you bought from a market to the public address indicated in your wallet.

Votes of delegates

If you have at least 1 ARK in your wallet, go to the “Votes” tab. Then click on “Add Delegate”. In the “Add Delegate” dialog box, you have the option of choosing one of the first 51 forger delegates or adding any other for which you would like to vote.

Add Delegate

After selecting a delegate, it must appear on your delegate list. Make sure the box next to the delegate is checked and click “Vote”.

Vote

The last thing you need to do is enter your passphrase and confirm your vote. That’s it that’s all! You have the right to withdraw your vote or to vote for another delegate when you wish. You will still have to pay the fees of 1 ARK each time.

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My opinion/opinion on ARK

I firmly believe in the ARK ecosystem and all that the ARK (A Fast Secure Core Technology) team wants to build  I appreciate the clean and simple design of everything they create. The team is aware that we must start with exemplary design to present the public with a complex idea such as blockchain technology.

If this team is able to achieve everything on its daring roadmap, there is no doubt that this ecosystem will be one of the most influential catalysts for the adoption of blockchain technology.