What Is Ark (ARK)?
Ark (ARK) is a platform that provides easy blockchain solutions for solo developers, blockchain enthusiasts, and strong enterprises. The platform aims to build innovative products and services that focus on user experience and developer tooling. Also, as mentioned in the whitepaper, the project seeks to eliminate the barriers posed by the complex technology in the blockchain space.
Ark aims to solve the blockchain problems of scalability, security, and decentralization. And for that, the platform has a unique way of addressing the issues, starting with scalability, which is addressed through a multi-chain approach and the Ark SmartBridge technology. The SmartBridge technology provides a solution for the problems related to the isolation of main networks in blockchain technology. The highly complex processes run on the bridgechain, and the results get transferred to the main chain, which results in achieving scalability and increasing efficiency.
Security is addressed by following a delegated proof-of-stakeconsensus mechanism. Here, the holders of tokens identify the nodes worthy of securing the network. Lastly, the decentralization issue is solved by determining the needs of system architects in each bridgechain. Developers utilizing Ark technology have the power to optimize every network as required.
As the whitepaper suggests, the Ark network uses a peer-to-peer global cryptocurrencythat can be used for transferring or storing values. The ARK tokencan be used as a medium of exchange with the platform's ecosystem due to liquidity and reach. Also, the token is used to power Ark products and services. Users can acquire, spend, or hold the ARK token with various tools, industry partners, and service providers.
The Ark platform designed an interconnected ecosystem for creating decentralized economies. For a complete blockchain solution, the platform built all its products using JavaScript and TypeScript, thus making them accessible to millions of developers globally.
History of Ark
The ecosystem of Ark was introduced in early 2017. 30+ team members come from 12 different countries. The executive team is led by president Ray Alvarez & vice-president Rok Černec. The CEO is Lars Rensing, and Kristjan Košič is the CTO. Coming to the advisors, Scott McPherson, MD, is a board member, and Mike Doty is the technical advisor. The Ark ecosystem whitepaper was published on September 27, 2019.
