Skip to content

Home Hub Cryptocurrencies What is Ark Coin (ARK)? How Does It Work?

What is Ark Coin (ARK)? How Does It Work?

What is Ark coin? Take a closer look and learn more about the Ark coin with our complete guide here at Easy Crypto.

Tio

Posted May 26, 2022

Man holding an Ark coin to illustrate the topic of what is Ark coin
Man holding an Ark coin to illustrate the topic of what is Ark coin

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. 

An artist's render of blockchain technology
Ark.io, connecting blockchains since 2017. Source: Information Age

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. 

Diagram comparing Apps with DApps
Comparison between Apps and Decentralised Applications. Source: Wikicommons

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)?

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 Network across the world. Artist's rendering.
Interoperability and SmartBridges has massive implications on the crypto space as a whole. Source: Kominfo

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.

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 website displayed on a mobile phone.

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 South Africa

Here at Easy Crypto, our aim is to simplify the crypto experience and make it accessible for anyone – that includes buying Ark coins.

Follow our guide below for a quick guide on how to buy Ark coins in South Africa:

Step-by-step guide for buying Ark Coin (ARK) in South Africa:

  1. Sign up or Login

    Start by logging into your Easy Crypto account, or sign up to create an account if you haven’t got one already!

  2. Verify your account

    To do this you’ll need to submit a picture of your South African ID, passport or drivers license. You’ll be able to start purchasing any cryptocurrency once the documents you submitted have been verified.

    For further information, you can visit the Easy Crypto’s account verification guidance.

  3. Select Ark (ARK) as your crypto order

    Browse the cryptocurrencies we have to offer in South Africa, and select ARK as your crypto order. Enter the amount you wish to purchase and proceed to the payment method.

  4. Payment

    You can currently choose between 3 different payment methods when buying cryptocurrency on Easy Crypto South Africa.

    These include Stitch, Ozow and manual bank deposits. (Based on testing, we found that Stitch tend to be the faster payment method).

    Note: Blockchain transaction times may add up to 1 hour until your coins are delivered (depending on network congestion) – which is beyond our control.

And that’s it! We’ve also got a handy YouTube guide to buy crypto on our platform:

Feel free to reach out to us if you’ve got any questions or inquiries on all things crypto. We’re always ready to help.

Further reading: Explore our learning Hub for all things crypto.

Make sure to follow our Twitter, Instagram, and YouTube channel to stay up-to-date with Easy Crypto!

Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.

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 Oct 11, 2022

Scroll To Top