What Is ARK Cryptocurrency?
ARK is a platform that provides users, developers, and startup creators with innovative solutions regarding blockchain technology. ARK cryptocurrency is the system's internal payment coin. The project developers strive to provide a single ecosystem of linked chains and a virtual web of endless blockchain use cases. All this makes ARK a flexible, adaptable, and scalable platform.
Work on the project began in 2016, but it was officially launched in March 2017. To attract users' interest, the company reserved 25 million tokens. Everyone could get coins as a reward for simple tasks. For example, for taking part in the lottery, putting the logo on the avatar, sharing the information about the project, etc. This promotional campaign lasted a little over a month.
Lisk token holders received special privileges. Thanks to this, the ARK developers brought about $1 million on the first day. However, the overall ICO process wasn't so successful. Only 1,300 of the planned 2,000 BTC were raised. But this did not stop the creators of the platform. They continued to develop the project and marketing campaign.
How ARK Operates?
The ARK platform operates on the Delegated Proof-of-Stake algorithm. 51 nodes create the blockchain and process the transactions. They are rewarded with the network's internal coins for this. It takes 8 seconds to create 1 block, and for each created block, the delegate receives 2 ARK coins.
The DPoS algorithm additionally protects the network from centralization. If a participant has a lot of coins, he can vote for several delegates, but the weight of his vote will be divided by 51 anyway. So, the network cannot be controlled by more than one participant.
This mechanism reduces inflation. In the first year of release, the inflation rate was 6.31%, in the second year, it was 5.93%. When the last coin is mined, inflation will be about 4.02%. This is significantly less than Ethereum (30% inflation in the first year). Thus, the value of ARK cryptocurrency will only increase.
Should I Invest In ARK Coin?
ARK coin attracts the attention of many participants of the market. The positive aspects of this digital asset include such features:
- High speed. It takes 10 seconds to make a transaction. This is enough time for the crypto from one user's wallet to be transferred to another.
- Delegated Proof of Stake. With this technology, users can delegate their rights to other users.
- The existence of its reserve fund, where about 7% of all ARK crypto coins issued to the market are stored. By using the resources of this fund, crypto creators will be able to solve emerging crises, which will definitely make this platform reliable.
Such advantages help this coin stand out among its competitors that strengthens its position in the cryptocurrency market.
Today ARK coin price is 1.63 USD.
Where To Store ARK Coins?
The safest way to secure tokens is the ARK Desktop Wallet. It meets the highest security standards. Besides, ARK supports the Ledger Nano S wallet.
ARK wallets sync with peer-to-peer network nodes. Once you download the wallet on your computer or smartphone, you can get started right away. No lengthy synchronization is required.
ARK Coin Price Prediction
Although ARK crypto isn't as popular as other tokens, lots of experts answer positively to the questions like “Is ARK coin a good investment?”. For example, the DigitalCoinPrice team predicts that the ARK coin price will be over $2.02 at the beginning of 2022. WalletInvestor experts also have a positive ARK price prediction and say it'll cost over $4.376 in 5 years.
This increase will be achieved only if the developers complete their goals. In 2021, they aim to upgrade framework consensus, integrate other assets to their wallet, and launch a beta Nodem version that will let developers and network validators manage their blockchain nodes.
Overall, ARK is a promising cryptocurrency that attracts investors thanks to its flexibility, scalability, and partnership with projects like Ecency, Kryptoez, and other Fintech projects. These factors will make its price increase in the long run.
How To Buy Ark Coin?
If you think about “Where can I buy ARK?”, use exchanges, such as StealthEX. This crypto exchange lets users exchange ARK for BTC, LTC, ETH, and more than 350 digital assets. No need to provide many details for this transaction. The process is secure and doesn't take much time, just follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to ARK.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins.
And one more thing, StealthEX allows you not only to get coins fast but also to choose a floating or a fixed rate.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.