What Is ArcBlock (ABT)?

ArcBlock (ABT) is a new decentralized developer platform that simplifies the development of Distributed Ledger Technology (DLT) and blockchains. DLT is a protocol that permits the secure functioning of a decentralized digital database. According to its whitepaper, ArcBlock is a blockchain ecosystem that aims to create and deploy decentralized applications (DApps) and make them accessible and useful in everyday lives. The platform solves the problems of poor performance, cost, lack of features through its new revolutionary design. 

The platform is a comprehensive solution, combining blockchain technology with Cloud computing. Cloud computing is the delivery of different services by the internet. ArcBlock’s unique design aims to give a high-performance, cost-efficient, user-friendly, and protocol-agnostic platform.  

Furthermore, the platform is an incentive-driven marketplace for reusable components, services, and even applications. ArcBlock’s introduce Open Chain Access Protocol that allows open connectivity over multiple blockchain protocols. The advantages of the platform are; 

• Built for the New Token Economy- The entire ArcBlock service is driven by token economy.

• Optimized for the best experience – ArcBlock platform uses a “top-down” strategy that centres on the user experience.

• Built for the Cloud- The platform is designed to run natively in the cloud.

• Built with Open-Standard- The platform is open-standard and actively contributes to various blockchain technology communities. 

Additionally, Blocklet is a computing architecture component of ArcBlock for running various applications. Blocklet communicates with blockchain by ArcBlock’s Open Chain protocol and can get used for smart contracts, oracle, resources, asset handling, and off-chain business logic. A smart contract is a self-regulated contract with the term of the agreement between traders directly written into lines of code. 

The native token of the platform is ABT. The platform has built an optimized blockchain dedicated to ArcBlock token services and the public ledger to achieve high-performance transactions. The ABT token is designed for general purposes utilized in different scenarios. ABT is a utility token for paying the cost associated with using the service. A utility token is used to access a company’s product or service. ArcBlock requests developers to lock in several ABT tokens as a stake when they require mission-critical services. 

History of ArcBlock (ABT) 

According to the website, Robert Mao founded ArcBlock in 2017.