Ark is a decentralized, open source cryptocurrency, that is intended for mass adoption. With a block time of 8 seconds, Ark is one of the fastest cryptocurrencies on the market. At present, the Ark Crew consists of 17 core team members who aim to create an ecosystem of connected chains by acting as a mediator, that allows cross-chain communication. This bridging technology has the potential to be utilized as a means for transferring information, functions and even coins, across different chains.HistoryArk came online at 1900 UTC on March 21, 2017. Since then it has been listed on 12 different exchanges. It was created by a diverse, and decentralized team of 27 members coming from 11 different countries. The framework of ARK was shaped, and influenced by 3 other cryptocurrencies: Lisk, Bitshares, and Crypti, all which make use of the DPoS consensus algorithm. It is interesting to note that Francois-Xavier Thoorens, a co-founder and head of development at Ark, was once a core developer at Lisk. FeaturesThe Ark platform was designed and intended for making the technology of the blockchain conveniently accessible to the everyday user. It is a decentralized ecosystem that is proposed for mass consumer adoption. The Ark Crew focuses on spotlighting two crucial fields of development – a core technology which is both fast and secure, as well as providing services that are genuinely practical for the average user. Ark has an interesting feature called Smart Bridging which gives it the ability to adapt to market needs, furthermore adding an amount of flexibility to the platform. Smart Bridging is, in essence, the act of linking together other blockchains which each have a serviceable use case. These Smart Bridges allow the Ark platform to delegate functions and tasks to other bridged blockchains. With this technology, the Ark Crew is capable of developing a merged network of various blockchains, with Bitcoin, Ethereum, and Lisk among the first chains to be bridged. Ark utilizes a consensus algorithm called Delegated proof-of-stake (DPoS) which was made known by Bitshares. The algorithm was designed with the intention of eliminating the issues which are faced by the proof-of-work (PoW) system. Such issues include the centralization of computer processing power and the needless waste of energy. The ARK DPoS system also implements a newly adapted voting procedure, as well as the integration of several upgrades over the previous DPoS system. Ark also provides users with the option of sending transactions anonymously. In conclusion, with an ambitious roadmap, an experienced team, and a flexible platform, Ark is well on their way to becoming a scalable cryptocurrency, able to be adopted by the masses.
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