Being a college student, the need for money is quite high; however, we want it fast. With Bitcoins $4,882 rise just last week, everyone is pouring there money into the cryptocurrency. Bitcoin this, Bitcoin that; however, the new thing in the world of cryptocurrency investors are alt currencies. These are a set of cryptocurrencies that have specialized features, but are far less known mainstream. The next crypto on the radar of many crypto users is ARK.
ARK is a fork of Lisk, which started out as a cryptocurrency with the goal of creating side chains. ARK still uses the blockchain; however it is utilizing it in a very different way. The potential is very high for ARK because of the ambition behind the team of developers. There is a team of 27 developers that work to fix the problems that mainstream cryptocurrencies have. A few things that the developers have done are increasing speed, the Delegated Proof of Stake, and the notorious SmartBridge.
To start off, the developers of ARK have increased the speed of confirmation time. The confirmation time for ARK is around 8 seconds. The developers were able to achieve this by allowing microtransactions to be done through off-chain processing. This allows the transaction to be much faster because it prevents blockchain bloat. Blockchain bloat is when the blockchain gets filled up with test/fake/small transactions that slow down the network; however, with the use of off-chain processing, this can be avoided.
Another change ARK has made to their cryptocurrency, which is a problem the top cryptos have, is a modified Delegated-Proof-of-Stake. Many cryptocurrencies, like bitcoin, would select people to put together the blocks. However, the same people keep on getting it. With the new DPoS system, 51 active forging Delegates are selected by vote mechanism built into DPoS. These people have voting power; however, it changes each time. This allows the cryptocurrency to be more decentralized. This decision making process makes is very easy to upgrade the currency. This means it is good for investing in because of the continued improvements that the developers are able to do with ease.
ARK is also experimenting with a homogenous codebase. This means that connecting other services off the main code is very easy since it all contains the same “format” of code. “The potential to provide service bridges in the form of Lisk blockchain apps, along with any other additional systems provided by their Blockchain administrators.”
And Finally, the greatest thing ARK has brought to us: the SmartBridge. SmartBridge is the bridge that connects all cryptocurrencies together. To convert cryptocurrencies into a different type you have to use a wallet that has both currency pairs, convert it, and then move it to where you wanted it to go; however, this process is way faster with ARK. For example, a user that has ARK currency and needs to send it to another user that wants bitcoin. The user with ARK can simply send the ARK currency and while on its way it will convert to Bitcoin. This allows all cryptocurrencies to be easily converted. ARK is trying to become the centralized crypto, the one cryptocurrency that connects them all.
The ambition and drive that the ARK developers have is the biggest asset to the new cryptocurrency. The developers are taking all the small issues that blockchain based cryptos are having and adapting to ARK to avoid similar problems and issues.
Now what everyone wants to talk about, what are the returns on this coin. The crypto currency is trading for $4.16 as of 12/12/2017. ARK started on March 22nd, 2017 and started trading at .03 cents; however, it started to make major gains in August when it started to trade at .85. By September the coin saw a 311% gain and was up at $2.65. Now at the start of December, ARK started at $3.06 and saw a great increase until the 5th of December; however, it is making another climb and is trading at $4.16. That is still a dollar return on the coin within 12 days.
The potential for this coin is quite high. The future of this coin looks bright.