ARK is a blockchain platform that allows users to create stand-alone interoperable blockchains from scratch without prior knowledge of blockchain technology. With the ARK platform, anyone can develop a completely unique blockchain using a programming language that they are familiar with. The platform integrates over a dozen programming languages to simplify the blockchain development process.
Founded in 2016, right before the 2017 ICO boom ARK's ICO managed to raise an impressive $800k. Since then, the ARK platform has grown to become a stable enterprise by using industry best practices. This enterprise is known as ARK ECOSYSTEM SCIC.
The ARK Public Network (APN) is the underlying blockchain powered by the ARK crypto. The native crypto asset of the blockchain network is ARK. APN is the mainnet and it went live on the 21st of March, 2017.
APN is a functioning application of ARK's blockchain technology. ARK's public network uses a delegated proof-of-stake consensus protocol in which the network's node operators serve as delegates. These delegates are voted in by users of the network.
Independent blockchains built on ARK also achieve consensus through delegated proof-of-stake. However, the delegates are chosen by the users of the independent blockchain network.
The ARK network uses smart bridges to connect separate blockchains and allow them to share information. ARK serves as the intermediary between the blockchains. Blockchains created on ARK have smart bridges built into them as well.
ARK is an open-source blockchain network with an active community of users. ARK technology does not rely on smart contracts. Instead, it uses customizable transaction logic and incorporates multiple programming languages. APN supports custom transactions like multi-signature transactions, various registration transactions, and multi-payment transactions.
The ARK coin is the native cryptocurrency that powers the Ark ecosystem. It is built on the Ark blockchain. In March 2017, 100 million ARK coins were created. The circulating supply of ARK coins for the time of writing is over 130 million but its max supply is unlimited. The ARK coin, like other cryptos, has experienced several price fluctuations over the years. However, it is currently above its initial coin offering price of $0.10.
The ARK blockchain processes transactions at an average speed of 8 seconds. This is because it uses delegated proof-of-stake to verify transactions which are faster than blockchains that use proof-of-work or regular proof-of-stake. The ARK blockchain is one of the fastest blockchains in the world. This fast transaction time means that there are over 10,000 ARK coins created every day.
Blockchain technology is still in its early stage of development and because of this many people are unfamiliar with it. ARK aims to increase blockchain adoption by removing the difficulty associated with blockchain technology. This platform simplifies the blockchain development process and helps users create blockchains with unique functions. ARK smart bridges support interoperability between blockchains.
ARK Core is the foundation of all blockchain networks built on ARK. It facilitates and verifies peer-to-peer transactions and serves as the decentralized ledger for all transactions. Generic Transaction Interface (GTI) is a component of the ARK framework that supports the use of custom transactions.
ARK can only be mined by the node operators of the ARK network. As stated above, these node operators serve as delegates. There are 51 delegate slots available on the network. Each elected delegate receives 2 ARK for running the network. The delegates validate transactions and form the blocks that make up the ARK blockchain. ARK holders vote for delegates to run the network. One ARK coin is equal to one vote. Holders who use their ARK coin to vote can remove the ARK whenever they want.
In addition, an ARK holder can only vote for one delegate with their wallet address. After voting, the 51 nodes with the highest votes become the network's delegates. Node operators that want to be the delegates can gain votes by campaigning to coin holders. Coin holders can give vote weight to their preferred delegate by using the ARK desktop or mobile wallet to vote.
*Delegates have complete autonomy over the staking reward paid to them.
ARK can be bought, sold, or swapped using a cryptocurrency exchange. Several crypto exchanges disposable on Swapzone trade ARK. For example, to swap or exchange BTC to ARK, you can follow these outlined steps:
You can store your ARK in the ARK wallets, multi-asset wallets, hardware wallets, exchange wallets, and crypto debit card wallets. ARK coins can be converted back to fiat currency at any time.
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.