Ark Coin: News, Price Prediction, & More
Ark coin is not like other cryptocurrencies. Ark was initially created as a decentralized ecosystem that could help to increase user’s ability to adopt blockchain technology. The creators of Ark truly are decentralized with member across the globe from Bulgaria to the US.
The Ark Crew’s end goal is not focused on creating more blocks of Ark, but instead on connecting blockchains that already exist and integrating Ark coin into those connections as the process unfolds. They want you to be able to create your own blockchains by essentially cloning Ark. They intend to achieve this by including as many coding languages as possible.
There is a lot going on with Ark, so we’ll try to cover the most ground to give you an idea of how Ark works, where to buy and store Ark coin, the most up to date news and price predictions for the coming year, and a little bit of the history of this platform along the way.
The ultimate goal of Ark, as we’ve said, is to make blockchain more accessible while unifying already existent blockchain. All of this is done through three major features of the Ark ecosystem: SmartBridges, alternative programming languages, and push-button deployable blockchains. So what does all of that mean? Let’s break it down.
SmartBridges help to bring separate blockchains together within the Ark platform. Essentially they “bridge” gaps between the preexisting blockchains by making Ark the intermediary that allows these various chains to communicate and trigger events across chains. This hasn’t been possible in the past, so it’s exciting stuff for the cryptocurrency community.
SmartBridges are simple to enable since they are basically a snippet of code that needs to be inserted into a chain. They are also beneficial beyond their simplest explanation. They can help currency exchanges like Coinbase and Shapeshift by giving them a medium to perform SmartBridge transactions while charging their typical transaction fees.
Integrating the alternative programming languages into the Ark ecosystem means that nearly any developer can feel comfortable building on Ark’s technology and code. Currently, Ark supports 18 different programming languages, including Java, one of the most popular programming languages in the world, and one previously left out of most crypto sites.
Finally, push button deployable blockchains to help you to fork Ark, or change it to create your own version of a blockchain based on it. This is an ideal situation for start-ups, and the goal is for a suite of features that can benefit these companies immediately out of the gate. The best part is that any blockchains deployed using this feature automatically have SmartBridges attached.
How Does Ark Operate?
You probably know by now that different cryptocurrencies operate using different algorithms. Ark operates using Delegated Proof-of-Stake (DPoS), which means instead of using miners to secure transactions within its network, Ark uses delegates. Delegates must “run” for a spot, and anyone who owns at least 1 Ark is eligible to vote for a delegate they would like.
Ark plans to lower the voting fee to .02 Ark eventually, but at the time of this writing, the fee was still 1 Ark. The power of votes goes to those with the most Ark coins, so its important for everyone with the ability to vote for a delegate to do so in order to maintain reputable candidates. The best candidates write proposals that display their operations plans for voters.
Delegates are awarded Ark for every block they generate, similar to the way miners are rewarded for their work in other currency, so many delegates run on a profit sharing plan. If you vote for them, you would be paid dividends over a period of time. Others run under the intention to develop additional projects and give voters stake in those or provide services.
When the Ark network launched, it had 125 million Ark in the first block. Delegates are awarded 2 Ark for every block that they forge, and that happens roughly every eight seconds. Much faster than many networks like Bitcoin where new blocks are forged every ten minutes. With the Core v2 release this year, Ark is able to process 150 transactions per block or 18.75 transactions per second.
Where To Buy And Store Ark Coin
The two major places you can buy Ark coin are on Bittrex and Binance, where it is available as a trading pair with Bitcoin. However, there are other exchanges that support Ark; you just won’t find the volume of trading on those sites that you’ll find on the two sites mentioned above.
You will need to purchase Bitcoin first in order to purchase Ark. You can purchase Bitcoin in many places, but Gemini is a good resource for such a purchase. Then you’ll want to transfer your Bitcoin to either Bittrex or Binance where you can trade for Ark. Ark’s website has a full list of exchanges where you can acquire Ark if you’d like to do some additional research.
Once you’ve bought Ark, you’ll need a place to store it. The best place to store any cryptocurrency is in an online wallet. Ark has five wallets that they recommend per their website and those are as follows:
Regardless of which you choose, you should always use some of your Ark to vote for a delegate, especially since the cost to do so is low. You can use that vote to support someone who holds the same ideals, who will operate the way you like, and who will pay out dividends to you in the end. You can also use that vote to support someone working on a project in which you’re interested.
News And Price Predictions
Cryptocurrency, in general, has taken a hit over the past year, and Ark is no exception. It launched with decent numbers in 2016, but after reaching an all-time high price of over $9 USD in very early 2018, the price has continued to plummet. Right now Ark is worth approximately $.45 USD, which is only .00011591 BTC.
Turning this trend around will likely require a turnaround of the whole cryptocurrency market. However, there is a pattern of slight upswings in price when new partnership announcements are made, or new developments come to light, so we recommend keeping an ear out of those types of changes if you have some Ark you’re looking to sell at a higher price.
As of last year, Ark was in the 85th spot of most valued cryptocurrency worldwide. The hope of the Ark Crew is that new developments that are in progress currently will have a positive effect on the value of their currency. The more partnerships they can form and languages they can allow within their ecosystem, the more likely that is to happen.
Ark recently hired Gerard Blezer as the Finance and Compliance Manager on the Ark project and Carlie Wicklund as the Community Support Specialist. The Chief Strategist position was also recently filled, although not quite as recently as the other two spots. Ark is hoping fresh faces will bring fresh ideas and partnerships in the coming year.
The major project focus for 2019 is the Ark ACES project, which is where Ark plans to create an encoded listener to give users the ability to interact with the Ethereum blockchain without the need to own it. After overcoming several issues with the project in 2018, the team feels certain that this year they will reach their goal of creating this newest piece of their ecosystem.
If Ark can continue to overcome obstacles and accomplish their goals in the coming year, they are likely to see at least a slight increase in value, and potentially contribute to the turnaround of the cryptocurrency market as a whole. Their work to bring usability to blockchain is something the industry desperately needs in order to become a widely used industry.
Ark’s ultimate goal is to bring blockchain technology to the general public, and doing so puts them in the driver’s seat to be extremely influential in the adoption of blockchain technology across industries and across the world. To do so, they will need to remain focused on bridging the gaps between the world’s top cryptocurrency blockchains: a daunting task.
Running their operations via DPoS helps to set Ark apart from other cryptocurrency brands, and allows for more transparency in the process. It’s important to vote on a delegate as an Ark owner, and we are looking forward to the voting price to drop so that more votes can come in and the 51 delegates can better represent the Ark owners.
Ark’s unique ecosystem is not completely new, but it is advancing faster than any other similar technologies. In coming months we hope to see great strides made by the Ark Crew with Ark ACES, and with an increase in available programming languages on the platform. These advances are sure to increase the value of Ark coin and the face of cryptocurrency as a whole.