When Satoshi Nakamoto first introduced blockchain technology through Bitcoin, no one ever understood the transformative potential that it had. From 2008 till today, a number of projects have risen that offer complete technological solutions to problems that plague traditional systems. Therefore, a lot of businesses and individuals could take advantage of distributed ledger technology. Unfortunately, there is a great barrier to entry into the blockchain space due to the complex technology.
Fortunately, ARK, a blockchain-based development platform, has come up with a solution to this problem. Ark aims at solving it by offering an easily implementable and customizable blockchain that can be deployed in a matter of seconds. For this reason, ARK has been receiving a ton of positive attention in the industry lately. In this article, we will take a look at what ARK is, how it works, how you can buy it, and its price prediction.
Ark is both a cryptocurrency and a decentralized blockchain ecosystem that enables both developers and entities to create their own customizable blockchain. It’s designed in a way that it can give developers easier access by solving the difficulty of working with blockchain technology. It does this by reducing the need for Smart Contracts and allows the use of custom transactions, ARKLogic, and over 18 programming languages. It went live in 2017 after a successful ICO event where it sold 100 million ARK tokens and raised $800,000.
To ensure that the ARK ecosystem attracts and keeps a big number of users, the ARK team adopted the Delegated Proof of Stake (DPoS) consensus algorithm. Users who stake their ARK crypto are able to elect 51 delegate nodes. These nodes are then responsible for forging blocks, where they get rewarded with 2 ARKs. They also share a part of their rewards with the users who voted for them. The total block time for ARK is 8 seconds, therefore, the total daily reward is about 200 ARKs.
Some of the features of ARK include:
These are intermediaries between blockchains that connect one network to another, even if they have different consensus algorithms. They allow users to conduct cross-chain transactions within the ARK wallet.
These kits allow developers to build blockchains using a programming language that they are familiar with. Thus, significantly facilitating the process. There are at least 18 programming languages available.
As stipulated before, ARK enables anyone to deploy a custom blockchain within minutes. A user just needs to use a clone of ARK’s own chain and link all the created networks. ARK itself will facilitate communication within the cryptocurrency world.
ARKLogic lowers the need for building complex smart contracts. It allows developers to use smart transactions and replace smart contracts with easy-to-build custom transactions developed using any of the available 18 programming languages.
The ARK blockchain usually referred to as the ARK core, is considered to be at the cutting edge of blockchain innovations. Launched in early 2017, the ARK blockchain is one of the fastest and most scalable blockchains in the industry. Some of the major attractions of the ARK blockchain include 8 seconds block time, built-in ARK SmartBridge, and custom ARK smart transactions. It provides a break away from the usual high fees, blockchain congestion, and network inefficiencies.
The ARK blockchain utilizes a custom implementation of dynamic fees. Dynamic fees benefit both the delegates that secure the network and the end-users. On one hand, The end-users benefit by having low transaction fees. Delegates, on the other hand, have the ability to customize the fee per transaction and also offer tiered transaction fees.
Wondering how you can exchange your Bitcoin holdings into Ark? Don’t worry, Swapzone offers you the best ARK BTC exchange rates in the market. To conduct an ARK exchange, all you have to do is:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.