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ARK Crypto (ARK): Modular Codebase for Limitless Possibilities

Intermediate
Explainers
Blockchain
Altcoins
Nov 17, 2023

The decentralized nature and complexity of modern blockchains make their development one of the most challenging tasks in the world of programming. The monolithic nature of a typical blockchain means that developers need to painstakingly build everything from the ground up, from protocol definition to implementation and actual deployment. In short, building blockchains is a lot less fun than a highly experienced senior development lead might let on.

ARK is among the key projects in the industry aimed at simplifying and democratizing blockchain development. Built using TypeScript, a JavaScript-based general-purpose programming language, ARK employs a modular approach to blockchain development, which significantly reduces the complexity of its overall development effort. The ARK ecosystem even features a powerful tool that lets you quickly launch fully functional blockchains — with no programming skills required.

Key Takeaways:

  • ARK is a decentralized platform that offers a modular development framework, allowing programmers to create and launch highly customizable blockchains.

  • The ARK platform also features a product, ARKLauncher, that lets you quickly develop and deploy a blockchain without any programming involved, all by using a GUI (graphical user interface) wizard.

  • ARK Network is the first blockchain developed using the protocol. It and all the customized blockchains created using the protocol are part of the overall ARK ecosystem, with the ARK token serving as its common cryptocurrency.

What Is ARK?

ARK (ARK) is a decentralized platform that simplifies and speeds up blockchain development using the concept of modularity. Developers can use separate modules to customize their blockchains created via the protocol. The level of customization and flexibility provided by the ARK development framework is vastly greater than most other blockchain development platforms offer.

Blockchain networks developed using the modular, customizable ARK protocol become members of the overall ARK ecosystem. As such, ARK is truly an environment that can be described as a network of blockchains. The platform’s ecosystem also includes ARK Network, the first blockchain developed using the protocol.

Besides ARK Network, the project's ecosystem features several additional products, including ARKLauncher — a GUI-based wizard that lets anyone quickly launch their own fully decentralized network run on the platform with absolutely no programming required.

ARK Ecosystem

Mainsail (ARK Core)

ARK Core is the actual blockchain protocol, the central element of the entire ARK ecosystem. It was built using TypeScript, an open-source programming language based on JavaScript. Using ARK, programmers can customize and launch their own blockchains. The original ARK Core was released in 2017 and was upgraded to V2 in 2018. In May 2023, ARK Core underwent a major upgrade with the launch of Mainsail, ARK Core’s latest version.

The Mainsail upgrade significantly improved the protocol’s security mechanism by introducing an enhanced consensus model similar to Tendermint. This makes the platform more secure in several ways, such as improving transaction finality, eliminating dangerous rollbacks, and introducing better fork-recovery safeguards.

Like its predecessor, ARK Core, Mainsail allows developers to customize and launch blockchains based on a delegated proof of stake (DPoS) block validation model. While you can customize many other elements of your blockchain (for instance, block times or reward levels), the core validation model has to be DPoS.

By default, a Mainsail-built blockchain has 51 delegate validators. You can customize the value per your preference.

ARKScan (ARK Explorer)

ARKScan is a custom block explorer tool for the ARK public network blockchain. Using ARKScan, any internet user can transparently view all the transactions and activity on the network. In addition to the actual transactions, ARKScan provides a host of other valuable data and insights. For instance, you can track the activity of delegates, nodes who have block validation responsibility on ARK Network. Results of delegates’ voting are also transparently visible on ARKScan.

The explorer also lets you see the top accounts by token ownership, which is always a good feature to help in your whale monitoring analysis.

ARKVault (ARK Desktop Wallet)

ARKVault is a desktop-based crypto wallet developed by the ARK team to help you interact with any ARK-based blockchain, i.e., ARK Network and any custom-developed ARK chains. You can use the wallet to send and receive ARK tokens, swap crypto assets, vote on governance proposals and participate in staking.

If you prefer the security of a cold wallet, the good news is that ARKVault features integration with Ledger, the world’s largest hardware wallet manufacturer. You can link your ARKVault with Ledger’s Nano models to manage your balances and transactions.

ARKLauncher (ARK Deployer)

ARKLauncher is perhaps the most intriguing product for non-developers in ARK’s product suite. It’s an open-source GUI-based wizard that lets you launch your own blockchain with no programming skills whatsoever. ARKLauncher guides you step by step in setting up the parameters and features of your fully decentralized network. In as little as one hour, you can deploy your ARK-based blockchain network.

Users can set parameters, such as block production times, transactions per block, rewards per block, number of delegate nodes and more. Your new blockchain can then easily be integrated into ARK’s overall ecosystem of chains.

What Is the ARK Crypto Token?

ARK is the platform's native cryptocurrency. It plays a crucial role in enabling all the primary functions and operations on the ARK Network and the custom blockchains developed using the ARK protocol. ARK serves various purposes, including transaction payments, asset transfers, staking and cross-chain transfers within the ARK ecosystem. The token also has governance functionality, allowing its holders to assign voting preferences to delegates.

ARK’s total and circulating supply is close to 177 million tokens. There’s no supply cap for the token, 125 million of which were allocated at the its pre-launch and launch phases as follows:

  • 75% to ICO investors

  • 15% to the Founders Team

  • 7% to ARKShield Program, a professionally managed investment fund product

  • 2% to bounties

  • 1% to escrow

ARK Crypto Price Prediction

As of Nov 17, 2023, the ARK token is trading at $1.56, which is 84.73% lower than its all-time high price of $10.22 achieved on Jan 10, 2018, and over 4,400% higher than its all-time low of $0.034 on Mar 22, 2017.

The token’s long-term outlook is largely bullish, withPricePrediction forecasting ARK will reach $4.12 by 2025 and $25.56 by 2030, whileDigitalCoinPrice expects ARK to trade at $5.66 by 2025 and $16.31 by 2030.

Is ARK Crypto a Good Investment?

ARK is a promising crypto with vast potential for growth. However, much of its future growth prospects depend upon the project team’s ability to raise broader awareness of its unique products and services. Factors that point to solid growth prospects for the token:

  1. ARK is the first platform that lets non-developers launch full-scale blockchains easily without any programming effort. As blockchain technology gains more mainstream popularity, this could lead to explosive growth in the protocol’s user base.
  2. The protocol’s modular design framework also simplifies the blockchain development process for the programmers. ARK offers blockchain customization and fine-tuning features that hardly any other project in the industry can match. This should also help boost the platform’s take-up in the software development world.
  3. Realizing the need for wider brand awareness, the ARK team has taken proactive steps by partnering with Dogecoin (DOGE), a meme coin with a vast following among crypto users and enthusiasts. However, it remains to be seen to what degree this partnership will help ARK’s profile-building efforts.

As of today, a lot hinges on the ability of the platform to effectively promote its unique value proposition — helping just about anyone create their own blockchain in a matter of hours, not weeks or months.

Where to Buy the ARK Crypto Token

You can buy ARK on Bybit via the ARKUSDT Perpetual contract. If you don’t yet have a Bybit account, registering is an easy and quick process. By opening a Bybit account, you receive access to ARK and hundreds of other crypto assets, both in the Spot and Derivatives markets.

Closing Thoughts

The ARK platform has the potential to revolutionize blockchain development and adoption, opening up the industry to the broader crypto community. No longer do you need advanced programming skills — or, indeed, any programming skills at all — to create your own full-fledged blockchain network.

For those ready to roll up their sleeves with some coding, the protocol also offers unmatched efficiency and flexibility. ARK's modular approach takes blockchain customization to entirely new heights. With unique features for both ordinary users and blockchain programmers, the ARK protocol is a gem waiting to be discovered by the wider public. When the critical mass of crypto users, enthusiasts and developers starts appreciating ARK's unique advantages, there’s going to be no stopping both the project and the ARK token.

#Bybit #TheCryptoArk