ARK cryptocurrency is an open source, decentralised ecosystem. It bridges different blockchain technologies together to create a hybrid blockchain called the ‘ARK SmartBridge’.
It provides users, developers, and start-ups with innovative blockchain technologies. The company’s aim is to create an entire ecosystem of linked chains and a virtual spiderweb of endless use cases. All of this makes ARK highly flexible, adaptable, and scalable.
Why is ARK desirable?
ARK boasts incredibly fast transaction times. The ARK network is one of the fastest in the industry, taking only eight seconds to send and receive funds. This avoids those endless hours of waiting for your transactions to clear.
The ARK cryptocurrency also utilises a modified Delegated Proof-of-Stake (DPoS) consensus mechanism. This features 51 delegates, all of which are then tasked with running the network. Once the network is running correctly, they are rewarded with block rewards, much like miners of Bitcoin.
ARK has one primary goal, and that is to “keep the core blockchain lean and blazing fast”. It aims to do this using its custom-built SmartBridge functionality. With this, ARK is able to offload any non-essential functions to hundreds of sidechains. This promotes great scalability whilst also keeping ARK’s main blockchain lean and fast.
Another aspect the cryptocurrency is praised for is its collaborative nature. ARK is not built by one team or even in one country. Instead, it is a global effort, with 23 core team members hailing from 11 different countries. ARK’s goal is to keep growing into a population of dedicated community developers. This collaborative environment allows the ecosystem to grow and improve with new features being added constantly.
ARK has two wallets: a desktop version and a mobile version. The ARK desktop wallet is built to work on all major operating systems. With the desktop wallet, users are able to connect to fully synced network peers. This removes the need to download the full blockchain, which allows for a lot more space on your computer.
The desktop wallet is fully HD and meets top security standards in the industry. It also supports integration with the Ledger Nano S secure hardware wallet.
ARK’s mobile wallet is a convenient alternative to the desktop wallet. Users can have access to their money whenever and wherever they are using their smartphone. The mobile wallet is available for both Android and iOS users. Users are able to check balances, send and receive funds, and even vote for their favourite delegate, all on the go.
Disadvantages of ARK
ARK has many beneficial features, but that doesn’t mean it has no disadvantages. One of the ecosystem’s largest downfalls is its need for a lot of CPU power. Because of the large number of mathematical solutions it carries out to validate transactions, ARK uses a large amount of CPU power, which can cause PCs to slow down or overheat.
Another disadvantage of ARK is the challenge it faces in terms of adoption. With current government regulations, the currency is restricted. The mass adoption of ARK is limited since not all governments and laws are willing to adopt the digital currency.
Finally, despite ARK’s safety features, digital money can never be entirely secure thanks to hackers and scams. However, this is the case with all cryptocurrencies, and ARK is no different.
ARK cryptocurrency is one of the most innovative platforms available on the global marketplace. Thanks to its open source nature and extremely user-friendly interface, ARK allows and facilitates users to launch their very own SmartBridge-compatible blockchain.
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