ARK coin: A delegated proof of stake coin for creating Dapps and creating and issuing tokens
ARK coin: A delegated proof of stake coin for creating Dapps and creating and issuing tokens

By quintomudigo | cryptoforex street | 5 days ago

$0.36 tipped




          ark coin.png  

ARK coin is a native cryptocurrency of the ARK blockchain platform  created on  the ARK blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset.As a native coin of the ARK blockchain network, ARK coin was created to enable different developers to be able to use the coin to pay for the hosting of their created Dapps on the ARK blockchain platform. With ARK coin, different developers can also be able to create and issue the token of their Dapps on the ARK blockchain platform. The created Dapps on the ARK platform can use the ARK coin to send their tokens from one smart contract address to another. The owner of ARK coin can also use the ARK coin to pay for fees while sending the ARK coin from one smart contract address to another. Since ARK coin uses Delegated proof of stake consensus, different delegators can delegate their ARK coin to any verified delegates who will use the coins to secure the network and to validated any transaction on the network thus in return they receive reward in form of new coin minted as well as from the fee income charged. The more your delegation the more income you receive.

  ARK coin transaction

  ARK coin transaction takes place on the ARK blockchain explorer based on block height and timestamp.  Here is a view of the ARK coin transaction;  

  ark coin transaction.png  

 

To view how the transaction takes place on the ARK coin blockchain, you can follow the link below;

https://explorer.ark.io/  


  Date Launched

ARK coin project was started in 2016 but was fully  launched in 2017 with the main objective of helping developers to build their own Dapps as well as to create and issue the tokens of their own created Dapps.

Founder Of ARK  coin

Ark coin was created by a group of crypto community members with the main objective of improving the scalability issues thus allowing creation of other blockchains on the ARK coin network. Some of the team members behind ARK coin projects are; Mathew Coxx( Chairman of the project), Lars Rensing(Vice chairman),François Thoorens( president) amongst others.


Process of creating ARK coin  

Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet using the proof-of-work consensus, for ARK coin, that is not the case.  Instead, ARK coin was created to become a delegated proof of stake coin.During its launch, 125 million coins were generated through genesis block after which 51 delegates were elected by the community members. Therefore, two key players are involved in the ARK coin staking. They are delegators and delegates. The delegators will be delegating their ARK coin to any of the 51 verified delegates who will use the coins to secure the network and to forge any block being added to the ARK network thus in return they receive reward.After every 8 seconds, 2 block of ARK coin will enter into the network which will be shared to those validating the forge.The new block entering the ARK network will be based on the amount being staked. If all 100% of the circulating coins are being staked then all of the over 7 million coins will enter the network while if not the inflation will decline. The reward will then be distributed to the delegators based on the amount they will have voted. The more their delegation the more the reward they will receive. To become a delegate ,you need to have  24 hour running network and skill of running a node.Here is how ARK coin staking process looks like;

  ark coin staking.png    

 

If you would like to take part in the voting process so that you receive reward when your coins are used to secure the network and to add new block to the ARK network, then you can follow the link from below to join

https://ark.io/wallet  


Maximum circulation of ARK coin

  In ARK coin white paper, there is no indication of the maximum amount that should be circulating in its blockchain network though it will be an inflationary coin. During its launch, 125 million coins were released through genesis block after which 51 delegates were elected by community members to secure the network. Out of this 125 million coins,93,750,000 coins were issued to early investors while another 18,750,000 coins were retained by team members.Another 8,750,000 coins were set aside for the ARKshield program while another 2,500,000 coins were distributed through bounty.The remaining 1,250,000 was set aside for escrow system. Every year, more than 7,008,000 will be released through staking thus will be distributed to those who will be responsible to securing the network. Here is how the ARK coin supply distribution looks like though no maximum supply indicated.

ARK SUPPLY.png    

ARK coin  Price

Currently, 1 ARK  coin is worth more than $0.2 and its price is expected to increase over the next period of time. ARK coin is being abbreviated as  ARK.  

Converting my ARK coin  to other cryptocurrencies

To convert your ARK coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your ARK coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your ARK coin to your favorite cryptocurrencies;

  https://www.binance.com/en  

https://www.okex.com/ 

 https://www.altilly.com/

https://global.bittrex.com/  

https://www.bit-z.com/ 

 https://atomars.com/  

  Storing my ARK coin

To store your ARK coin, you need an ARK coin wallet. You can either store online or offline. To store your ARK coin online, you can either use Atomic wallet or can download desktop wallet for windows, MAC and linux or can also download mobile wallet for android or IOS. To securely store your ARK coin offline from being stolen by hackers, you can use ledger Nano wallet.

Transferring my  ARK coin to other Users

If you want to transfer your ARK coin to another user, the two of you must have trust in each other. The trust should be the ARK coin address provided for by the receiver while the sender must have the ARK coin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;  

    ARK SENDER.png  

 

Knowing more About ARK coin

If you feel that you need to learn more about ARK coin, then you can follow them on their site. Here is the link redirecting you to ARK coin platform website 

https://ark.io/ 

  You can as well read their white paper to learn more about their idea from below

https://ark.io/whitepaper/  

You can also join as a community member in any of their social media platform from below to follow the discussion made by other community members;  

twitter:https://twitter.com/ArkEcosystem

Reddit:https://www.reddit.com/r/ArkEcosystem/

facebook:https://facebook.ark.io/

medium:https://blog.ark.io/?gi=541b7ee584bf

discordapp:https://discordapp.com/invite/VNRfxwQ

Now that you know, I think that it is time for you to start earning some ARK coin by simply delegating your ARK coin to any of the 51 verified delegates  who will use the coin to validate transaction and to  secure the network. The more your delegating amount the more your reward.If you feel that we should also own some ARK coin for simply helping you know about it then here is our ARK coin address;   AH3D9Sh8dxWdSNRDCHN9Z9wM3c4T24DtmE


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


cryptoforex street
cryptoforex street

Cryptoforex street provides knowledge related to cryptocurrencies, tokens and blockchain technology. The knowledge consists of different cryptocurrencies with passive income, crypto mining, crypto staking and many more.

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