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What is the Ark.io blockchain?
Ark in a nutshell
- Facilitate connections between blockchains
- Make blockchain everything more accessible to use
- Develop an ecosystem around Ark
- Vast array of tools for developers
- Push button block-chains – The WordPress of Blockchains
Ark is a blockchain forked from Lisk. It has been adapted using Crypti and Bitshare code. Blocks are generated every 8 seconds, at random by one of the 51 nodes. These nodes are given the power to forge on behalf the Ark coin holders. In turn, they forge new blocks, earn the reward and then split it with those who gave them the voting power, according to a preset policy. The Ark delegate nodes are in charge of maintaining consensus on the Ark blockchain.
One of the founders of Ark Mike Doty considers Ark as being the TCP/IP or base layer on which further functionality can be built; comparing the transactions of the chain are like data packets.
Ark’s team is focused on the practical and everyday use of the blockchain.
What is the Market cap and price performance of Ark?
What are the core functionalities of Ark?
- Ark’s highlight is the capability of cloning itself to create a new DPOs blockchain. The developers promise that this process will be highly parameterized and will be done in a few clicks. This will allow the project to create their customized block chains. Think ICOs, but instead of ERC 20 tokens, projects will have their blockchain.
- Will have the virtual machine that will allow it to execute smart contracts.
- A Smart bridge that can move assets/tokens across block-chains
- Connected to the InterPlanetary file system, Inter-Planetary database
- Will have its own decentralized physical SMARTcard, which will not be connected to a credit card network but will have the same functionality.
- See the progress on the above projects and more here: https://ark.io/roadmap
How to make passive income with Ark?
It is possible to generate passive income with Ark through delegated voting. Depending on the delegate you choose, the ROI is around 8% as of the time of writing.
The process of delegated voting is:
- Download and install the wallet
- Buy Ark and then Deposit the Ark in your wallet
- Vote for your delegate
- Sit back and see your share of the forged Ark coins come in.
Important about Ark delegate voting:
- ReseArkh your delegate, they have different policy and about the rewards from their forging activities.
- Check this Ark Delegate voting Calculator https://docs.google.com/
spreadsheets/d/ 1FGo3FkC3uSWXGHatPQyny2brMWjAI JsHFCR-Lhkl_m0/edit#gid=0
When you do this, your coins are not given to the delegate they are still in your wallet.
Interesting points for Ark
- One of the most important functions in development at Ark is the ability to issue blockchains; this sets it apart from any of the other sub-token issuing platforms. An ERC20 token’s existence is tied to that of Ethereum if Ethereum is hacked or had a bug (think the DAO or the parity hack) the ERC20 can become collateral damage. A project with its own block-chain is more decentralized., has more control and responsibility but also more room for expanding. The project can adapt their block chains according to their own specific needs.
- Is involved with several partnerships including Blockport
- Have hosted hackathons at Cambridge and Princeton and Hosts GitHub competitions
- Ark has the ARKShield Program, which is intended to make the Ark development more sustainable by creating a fund which supports development.
- The Ark management team which includes Mike Doty and Francois-Xavier Thoorens have rich technological backgrounds.
- Ark can be used to managed information flow in an IoT ecosystem – NFC device (Easy transfer of data on a peer to peer system)
- There are unconfirmed news that a project related to KYC and AML will use Ark deploy an Ark block chain.
- Ledger hardware wallet can host Ark coins; the team is also working on a system which will allow the ledger nano wallet to transfer tokens on a PoS system as a form of payment.
- Ark is a platform and platforms can create growth faster than Crypto projects which
- The passive income part of Ark attracts investors who want to HODL and not only trade Ark
- On Ark, one can make a bitcoin transaction, lite coin transaction and Ethereum smart contract.
- Ark has a desktop wallet and mobile wallet and is compatible with a Nano ledger
- Ark is managed by a SCIC (Legal entity) incorporated in France
- Is an opensource project
- API developer clients for 18 development languages, 12 of which are already complete.
Concerns for Ark
- The Ark VM is being built by a team of contractors rather than the core team
- Ark has no coin cap, meaning the delegates will keep churning out coins and they will keep selling them. The top holders of Ark get paid 1000s of Ark a week, and they trade it on the exchanges. Infinite inflation.
- Ark’s sibling chains will not use Ark tokens as gas, unlike Ethereum’s ERC20 tokens which the Ark tokens be used primarily to create push-button blockchains? How many of these chains will the market create? What is the market for these chains? Is there a discrepancy between the supply of coins and the value the Ark ecosystem will create in exchange of these coins?. Hard to say at this time.
- The speed of development seems to be slow (The ICO ended in December 2016), and the Ark development team does not tag dates to its milestones.
- It seems there is no dedicated marketing team, which can market Ark, build partnerships and keep the community excited about the Ark project.
- They are building a lot of things at the same time, is the scope too broad?
- Is there any token-omic impact influence between the Ark blockchain and the singling chains?
Ark is trying to be Dash, Bitcoin and Ethereum at the same time. This means they are trying to appease three different niches at the same time, each of which have very different needs. The users of Ethereum like to have low gas prices, the users of Bitcoin like to have a store of value and the users of Dash, cheap transactions with a robust governance system and widespread acceptance by merchants. Merging those functionalities in one coin reduces the offering to each of those separate niches.
Ark’s USP is powerful, its blockchain creation wizard system is unique in the crypto space, which gives it a realistic selling point and clear and wanted utility. Today it is tough to develop a customized blockchain because of the technical requirements and the lack of blockchain developers.