Ark Blockchain Platform — Is It A Profitable Investment?
When it comes to investing in digital currency, it is essential that you conduct thorough research. Ark is a rather new addition to the cryptocurrency world. It is a project that was established with the objective of democratizing the blockchain and expanding its mainstream adoption.
The platform’s services cater to both individuals and businesses. Whatever your status, is Ark coin a good investment? In this article, we provide all the relevant information that will help you find the answer to this question. We discuss what Ark crypto is, Ark coin’s forecast, how you can purchase Ark coin, whether it is possible to mine Ark, and what Ark staking is all about. In short, this article will answer all the important questions associated with this blockchain platform.
What Exactly is Ark?
Touted as an all-inclusive blockchain solution, the Ark platform aims to combine different chains and personalize them for a wide range of applications. The blockchain landscape is quite complicated, as there are thousands of them in the crypto universe, each carrying distinct positive and negative attributes. Ark was not meant for building the best blockchain, instead focusing on bridging the gaps between existing blockchains in order to make the ecosystem less complex and more efficient.
Ark’s platform has harnessed various robust technologies in order to accomplish its core objective, and the team’s early success has been impressive. Ark has even managed to connect with Ethereum and Bitcoin.
The Ark team has developed a massive sandbox ecosystem enabling users to utilize an Ark blockchain clone to quickly generate their own unique blockchain. And by linking these blockchains together, Ark hopes to facilitate vastly improved communication in the crypto space.
It offers a wide range of consumer tools such as anonymous transactions, card networks, game tokens, multi-signature accounts, etc. These convenient tools demonstrate the platform’s commitment to offering an exceptional user experience.
What is SmartBridge?
With SmartBridge, Ark provides Blockchain-as-a-Service (BaaS). SmartBridge is somewhat similar to atomic swaps where blockchains that utilize the same protocol can be traded with one another. SmartBridge enables accessible communication between two blockchains, which do not necessarily have to run on the same protocol.
What is Delegated Proof-of-Stake (DPoS)?
Rather than authenticating transactions with a Proof-of-Work consensus algorithm, the Ark platform leverages a Delegated Proof-of-Stake (DPoS) system that consists of 51 delegates. It allows users to raise stake on their coins with the platform’s delegate and continue to earn a return.
Delegates acquire two Ark for each forged block. Blocks are created every eight seconds, so the delegates have the opportunity to earn around 200 Ark token every day.
What is Ark Staking?
The Ark blockchain platform allows users to earn more tokens by merely holding onto Ark coin. Users assign staking power to delegates who work to secure the network by authenticating the transactions within the blockchain platform.
And by doing so, users get paid a return in the form of Ark crypto, so the platform offers excellent opportunities for a passive income stream.
How to Mine Ark?
Mining Ark tokens is not possible as the platform has integrated Delegated Proof of Stake accompanied by node governance, where you first register to be a delegate by paying a certain fee and then extend a proposal to convince voters.
To become an income-earning delegate, you need to attract enough voters to rank among the top 51 forging delegates. These delegates earn certain Ark coins for every block they forge.
Delegates also share their rewards with voters so that they can cement their position as a delegate and continue to create blocks. Delegates who are ranked 52 and above contribute to the network as relay nodes; however, they do not get any rewards for forging.
How to Buy Ark coin?
Ark is available on many of the major exchanges in the market. Below we have highlighted some of the best places to buy Ark token:
Binance is undoubtedly one of the leading exchanges that allow users to exchange or trade cryptocurrencies on desktop as well as mobile devices.
You can easily acquire Ark BTC from the exchange by simply registering on the platform. Once you have acquired Ark Binance, the coin will be transferred to your selected wallet.
ChangeNOW is the optimal platform for traders who do not want to go through the hassle of a registration process. The exchange provides hundreds of exchange combinations including Ark Altcoin, Ark Bitcoin, and Ark Eth. Moreover, the platform does not store any information from the users’ side, further enhancing its security and reliability.
How can you buy Ark on Bittrex? The overall interface is quite straightforward and allows you to view different markets. You can create an account easily within Bittrex and trade coins around the clock.
OKEx is among the handful of exchanges that offers both crypto-to-crypto as well as crypto-to-fiat exchange options for over 100 digital currencies. So if you wish to exchange Ark for USD and vice versa, this is the platform to consider. Ark coin staking on OKEx is also extremely simple and highly efficient because of the platform’s clear interface and convenient features.
What is the Best ARK Wallet?
An efficient and secure wallet to store your Ark token can make the trading process much more efficient. And when it comes to storing ARK tokens, it is highly recommended that investors use the platform’s own Ark wallet dedicated specifically to Ark. The platform offers multiple options that include:
- Ark Wallet Ledger
Ledger is basically a multi-currency hardware wallet that supports a wide range of currencies. It allows you to integrate similar apps in order to set up your own applications.
In addition, it allows you to verify transactions via buttons embedded on a USB device, connected to your PC. All the information is stored securely and can be locked by a custom PIN code for added security.
- Ark Paper Wallet
Ark paper wallets are essentially paper documents that allow you to store private keys. The application creates the keys, and you have the option of getting them printed via an offline printer. A majority of the paper wallet features QR code, which requires you to scan and sign in to execute a blockchain transaction.
- Ark Desktop Wallet
Ark desktop wallet allows users to store ARK tokens on desktop or laptop computers. The private keys necessary to access the wallet are stored within the local hard drive on the computer. This type of wallet is less secure than both paper and hardware wallets.
- Ark Mobile Wallet
As its name suggests, the Ark mobile wallet allows you to manage your Ark tokens through the platform’s mobile wallet. You can easily install the app from either the App Store or Play store and secure the wallet with a PIN.
What Ark Coin Calculator?
If you want to know approximately how many Ark coins you will earn from staking, you should use the Ark Coin Calculator, a tool dedicated to helping users figure this out.
The calculator spits out the number of coins you will earn based on factors such as the delegate you have voted for, the stake amount, and the time period of the staking.
As of now, in one year you can earn roughly 79.1 tokens by staking 1,000 Ark considering that the delegate allows you to keep the entire percentage of the staking reward.
What is ARK Price Prediction?
The year 2019 was a disappointing one for Ark, as its price fell from $0.383152 in January to just $0.150069 in December. Although buying Ark in the short-term is not necessarily a great investment opportunity, long-term investment can prove to be highly profitable.
As of now, Ark’s price stands at $0.194454 with a total market cap of $23, 437,46. Currently, the coin is experiencing slow growth. And according to respected analysts, the coin is expected to exhibit impressive growth over the next six months. According to one industry expert, Ark’s price may rise to $0.451424 by the beginning of 2021.
Ark is gearing up to launch its dedicated virtual machine, which will allow it to embed smart contracts into its ecosystem. It is an extensive network that works to connect several blockchain solutions and assist both corporations and individuals in creating a flow between blockchains enabling user interaction with multiple chains with just one action. As Ark is relatively new to the crypto landscape, its platform holds enormous potential, but its future will ultimately depend on the execution of its strategies to attract new investors.