Binance supports ARK staking
Binance supports ARK staking

By EdwinK | Cryptocurrencies? (Part 1) | 15 Apr 2020


 
As from 14th of April Binance supports staking the token Ark (ARK). But what is ARK and is it worth investing?
 
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Ark cryptocurrency provides innovative blockchain technologies to users, developers and startups. The organization aims to develop a complete ecosystem of linked blockchains, making ARK a flexible, scalable and adaptive crypto. The platform links known blockchains together through a unique technology called SmartBridge. Like Bitcoin and Ethereum, Ark is a digital currency. However, unlike many other altcoins, Ark is not derived from the BTC or ETH blockchain. No, Ark is a fork of the Lisk cryptocurrency instead. The aim of the developers was to develop a better version of Lisk, especially taking into account rapid development and user-friendliness. Ark's blockchain platform can be used to make payments without the intervention of a third party, which is after all what a cryptocurrency in the base is for. To verify or add transactions to the blockchain, the blockchain uses a Delegated Proof of Stake (DPoS) consensus algorithm. DPoS provides a democratic form of "mining", allowing anyone who uses the Ark blockchain to choose which of the 51 "delegated" miners can confirm a specific transaction. Ark's goal is not to be "just any" a cryptocurrency, but to act as a complete ecosystem enabling cryptocurrency to be widely deployed. They have a mission to make blockchain technology accessible to consumers, to the point where consumers don't even realize they are using it. This is done not only by realizing communication between different blockchains, but also by developing technologies such as smart cards (physical cards) with which wireless cryptocurrency payments can be made.
The blockchain for the digital currency ARK has only existed since early 2017, but the Initial Coin Offering already took place in November 2016. The Ark ICO ran from December 7-11, 2016, with the goal of retrieving 2,000 BTC. During the ICO - which Ark itself called a Token Exchange Campaign - a total of 1,279.79 BTC was raised, about 61% of the initial target. At the time, the value of 1,279.79 bitcoins was just under $ 1 million. Despite the fact that Ark has not achieved the target for the ICO, we can still speak of a successful course. At the time of release, the cryptocurrency was worth less than 10 cents, but in less than a year, the Ark price has multiplied by more than 20x. Investing in Ark or other cryptocurrencies always remains risky, of course, but to date, the cryptocurrency has achieved positive results. Although the past does not give any guarantee for the future, the roadmap is very impressive, so I expect that the Ark course will certainly increase in the near future.

 


EdwinK
EdwinK

Crypto enthusiast, general manager


Cryptocurrencies? (Part 1)
Cryptocurrencies? (Part 1)

In this post I will explain in generally what cryptocurrencies are and how they work.

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