What is Ark Coin? The Gateway to a New Decentralised Ecosystem
What is Ark coin? Take a closer look and learn more about the Ark coin with our complete guide here at Easy Crypto.
The crypto space is abundant with new innovations. The advent of blockchain technology has opened up numerous possibilities for a more decentralised and digital future.
One of these innovations in the blockchain space is the Ark blockchain, which shows promising potential for the future expansion and integration of blockchains in the near future.
- At its core, Ark is a decentralised cryptocurrency built on a unique blockchain platform designed to bridge the gap between different blockchain networks.
- Launched in early 2017, the project aims to provide an interoperable ecosystem for blockchain technologies, fostering collaboration, and promoting mass adoption.
What is Ark Coin?
Ark is a cryptocurrency that focuses on interoperability and giving developers the power to easily create their own blockchains.
Launched in October 2016, by a 27-strong Ark team, the Ark team designed the platform to be used as a bridge between various blockchains. Apart from this, Ark does something unique.
The network allows developers to clone the Ark network to effectively create their own blockchain networks and decentralised applications (or D’Apps) in a matter of days.
This has a great implication in that it gives the Ark network a greater adoption as developers from all sectors and skill levels can easily implement the security of blockchain into their existing systems.
Why was Ark invented?
Since the launch of the first Ark main net in March 2017, the Ark team has worked with one single objective.
They wanted to promote a wider blockchain technology adoption, while simultaneously making it possible to link several blockchains together.
In effect, Ark allows third-party developers to clone the Ark blockchain to create separate for-purpose blockchains.
To do this, the Ark network allows developers to experiment with clones of the Ark blockchain in a sandboxed environment.
At the same time, Ark also allows developers to code in 18 different programming languages. This makes developing D’Apps and new blockchain technologies far easier than on existing platforms like Ethereum.
Read more: What are decentralised apps (DApps)?
One of the most significant challenges faced by the blockchain industry is the lack of interoperability between various blockchain networks.
Each blockchain operates independently, making it difficult for them to communicate and share data with one another.
This is where Ark Coin takes center stage.
Ark’s revolutionary technology enables it to act as a “bridge” between different blockchains, facilitating smooth data transfer and communication. By doing so, Ark aims to create a connected web of blockchains, collectively known as the Ark Ecosystem. More on that below.
What are Ark SmartBridges?
As well as being user-friendly for developers, Ark is also unique thanks to what are referred to as ‘SmartBridges.’
In simple terms, SmartBridges facilitate interoperability and communication between the Ark Core blockchain and any third-party blockchain.
Ark users can, therefore, execute smart contracts on Ethereum, or even instantly convert ARK coins to Bitcoin, Litecoin, or any other cryptocurrency bridged to the Ark network.
- Ark SmartBridges effectively merge the core functionalities of every Ark connected blockchain.
- SmartBridges allow Ark to operate as an intermediary between connected blockchains while preserving the uniqueness of blockchains like those of Bitcoin, Litecoin, Ethereum, etc.
- New blockchains created on Ark by independent developers have SmartBridges enabled by default.
Ark effectively networks the entire cryptocurrency market, while simultaneously encouraging the growth of new Ark-based (and independent) blockchain ecosystems.
As well as pioneering new blockchain technologies for the benefit of the broader cryptocurrency ecosystem, Ark is fast.
Ark can currently process 18.75 transactions per second. This makes Ark faster than Bitcoin, Ethereum, Litecoin, and several other top market cap cryptocurrencies.
Use cases and applications of Ark Coin
The versatility of the Ark Ecosystem opens the door to various real-world applications. Some potential use cases include:
- Cross-Chain Communication: Facilitating seamless communication between different blockchain networks, enabling the exchange of assets and data across platforms.
- Decentralized Applications (DApps): Building and deploying DApps on the Ark platform to leverage its secure and scalable infrastructure.
- Internet of Things (IoT): Integrating Ark’s blockchain into IoT devices, creating a secure and decentralized network for data exchange.
- Supply Chain Management: Utilizing Ark to improve transparency and traceability within supply chains.
The Future as the Ark Team Envisions It
The primary goal of Ark is to streamline interoperability between otherwise separate blockchains, while spurring innovation in the blockchain industry.
Ark is, therefore, still a work in progress. However, the Ark team are one of the most developmentally active in the crypto space.
Invest in the future of blockchain. Add Ark coins to your portfolio.
How to Buy Ark Coin (ARK) in Australia?
Ark Coin (ARK) stands as a testament to the boundless potential of blockchain technology. With its focus on interoperability, scalability, and community involvement, Ark paves the way for a more connected and decentralized future.
As with any investment, it’s essential to conduct thorough research and consider your risk tolerance before diving into the world of cryptocurrencies.
That being said, if you’re excited about the possibilities of a connected blockchain ecosystem, Ark Coin is one crypto you can consider to buy and add to your portfolio!
Easy Crypto Australia is a non-custodial crypto exchange that offers over 160+ crypto assets for you to choose form, including Ark Coin (ARK)
As a non-custodial exchange, we deliver your crypto asets directly to your wallet, where you hold true ownership ofyour assets, unlike centralised exchanges.
Invest in Ark Coin: Buy ARK with Easy Crypto AU.
Ark Coin (ARK) is just one of over 160+ cryptocurrencies that we provide here at Easy Crypto AU. Our collection of crypto assets include:
- NFT Tokens
- Metaverse Tokens
- DEX (Decentralised Exchanges)
- DeFi (Decentralised Finance)
- And many more.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated August 7, 2023