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ArcBlock is a new blockchain platform which facilitates the construction of Decentralised applications. Similarly to EOS, Arcblock is being described as Blockchain 3.0.
The Open Chain Access Protocol being used by ArcBlock, gives developers the flexibility to communicate and connect with different blockchains and also prevents them from being “locked in” any one chain.
Arcblock will have a marketplace for libraries and components which facilitate decentralised apps, developers (Component Miners) of these components will be rewarded in ArcBlock tokens. Arcblock will come with out of the box functionality to host decentralised apps on cloud computing services.
The ArcBlock blocklet is the bridge between the ArcBlock blockchain and any other API enabled the software (including other Blockchains). These blocklets are basically provided eyes and ears for the ArcBlock developers to access software on the outside of their system.
ArcBlock:
Token: ABT
Platform: ArcBlock
Performance: more than 100,000 transactions per second
Token Utility: Gas for the ArcBlock chain
Token Economics:
Total Supply 186,000,000
Inflation 0%
Hard Carp: 12,500 ETH
ICO:
Founder reward 15% of tokens
Vesting period: Cannot sell a part for in the first 12 months, staggered till a full 4 years.
Crowdsale: Min 0.1ETH, Max- 50ETH
KYC needed: Yes
Date: February 3rd
ArcBlock Positive and Interesting
The decentralised apps will have a focus on the user experience, similarly to EOS where the EOS user is not even aware that s/he is using a decentralised app.
The Decentralised apps can be hosted on cloud services, giving them a stable but centralised platform.
Most of the team seems to have worked for Microsoft at some point in their career. Robert Mao has worked at Microsoft as a researcher. Flavien Charlon has worked in Microsoft Azure’s programme.
Arcblock states that they have partnered with SAP, IBM, IEEE, the Linux Foundation. Being a partner with IBM does not mean that IBM endorses this ICO. It seems that it is not that difficult to become a partner with these companies and the process takes a few days in some cases.
ArcBlock decentralised apps can interact with other blockchains, this is similar to Aion and WanChain.
ArcBlock is smart contract enables and this means that sub-tokens can be created. This gives developers the option to create a community and an ecosystem which can finance and host decentralised applications. A framework which many are providing for name Ethereum and soon EOS, BosCoin and Exscudo.
One of the founders is a serial entrepreneur he has founded two companies, which where VC funded, they had reasonable success.
ArcBlock Concerns
Ideas on paper are easy, implementation is the key to success. Given the team’s history in traditional software development, there is a possibility that this project is delivered as promised. On the other hand, the team while experience in software development has not been involved in crypto project before.
WHile ArcBlock is aiming to be a high-performance general-purpose blockchain. EOS and Ethereum are working hard to be as fast if not faster (and this is also the case for Bitcoin through RSK). While Ethereum is lagging behind in speed, it should not be underestimated, the Ethereum alliance
The difference as I understand it between EOS and ArcBlock; EOS is building a new blockchain, while ArcBlokc is building a framework to connect to any blockchain and then use that blockchain to build a decentralised application. This framework will make it easier to launch decentralised applications than the native framework of the blockchain (this is where the component miners come in). One can extrapolate that this framework will act as a “BlockChain virtual machine” which will make the same code work the same on different blockchain; a noble but huge Considering that billions are moving in and out of smart contracts, one slip in the code and Kaboom!
Conclusion
Some of the links to Top Media sites on their website are not clickable. The icons make it seem that these media outlets are covering ArcBlock but in reality, some of them have not issued any articles on ArcBlock at least at the time of publishing this article.
I wish projects competing with Ethereum and EOS publish a nice table which makes a comparison “ArcBlock vs EOS” — “ArcBlock vs Ethereum”. This would give investors an idea on how to compare against something they are familiar with.
This “blockchain virtual machine” idea ArcBlocK more nimble, as we do not know who the BlockChain winners will be, ArcBlock can adapt their framework according to who is a winner the race.
2018 is the year when many ICO will be launching their main nets – ArcBlock will be another player, the whitepaper has hints of some USPs but these need to be better marketed and explained quantitatively.
ArcBlock needs to show their software development progress, testing and express proactive communication with their token holders in order for the token to at least maintain its ICO price.
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