ARK is a blockchain platform and cryptocurrency designed to increase adoption and usage of blockchain technology among consumers and businesses. The ARK token powers a suite of tools and services aimed at making it easy for anyone to leverage blockchain.
Overview of ARK
ARK was founded in 2016 by a team of 27 members including its lead developer François-Xavier Thoorens. The project is based in France but has an international open-source community supporting development.
The goal of ARK is to create an entire ecosystem of linked chains and tools that use blockchain technology to enable beneficial real-world use cases. ARK aims to act as a bridge between different blockchains and also a bridge to mainstream adoption of blockchain.
The ARK blockchain uses a Delegated Proof-of-Stake (DPoS) consensus model where token holders vote on delegates who validate transactions and govern the network. ARK also supports the creation of customizable sidechains using ARK clone chains and ready-made blockchains.
Use Cases for ARK Technology
Some of the main use cases and tools ARK provides include:
- Payments — The ARK wallet supports quick transfers of the ARK token between users. Vendor plugins also allow paying for goods and services with ARK.
- Smart Contracts — ARK allows developers to build smart contracts using multiple coding languages in addition to integrated plugins, oracle services, and IPFS support.
- Token Creation — The ARK token builder kit enables anyone to easily launch custom tokens and ICOs on the ARK chain.
- Data Storage — ARK has integrated with cloud storage provider Storj to enable decentralized file storage linked to the ARK blockchain.
- Identity Management — Users can create blockchain-verified profiles displaying credentials, activity histories, ratings and other attributes through ARK identifiers.
- Blockchain Interoperability — ARK’s SmartBridge allows connecting with external blockchains like Ethereum, allowing asset and data flow between chains.
The ARK token has a max supply limit of 133,248,290 ARK. It serves as the medium of exchange on the ARK network and for paying fees to use ARK services.
75% of the ARK supply was sold during ARK’s ICO in 2016. The remaining 25% goes toward funding ongoing development by the ARK team and community. The inflation rate is capped at just 5% per year and is distributed as block rewards to DPoS delegates.
The ARK token can be stored in the official ARK wallets for desktop and mobile. It is also listed on major exchanges like Binance, Bittrex and Bitfinex where it trades against BTC, ETH, and fiat pairs.
ARK has an extensive roadmap planned spanning technical upgrades, new feature integrations, and greater enterprise and government adoption:
- Deploying ARK on new consensus Layer 2 protocols like Cuckoo Cycle to improve scalability and speed.
- Evolution toolkit to simplify deploying full-stack tokenized ecosystems using ARK clones.
- Push-button-blockchains to launch new ARK sidechains instantly with parameters configured through a web interface.
- Tighter integration with hardware wallet support, Layer 2 staking services, NFT marketplaces, and decentralized storage networks.
- Onboarding businesses, NGOs and public sector organizations to utilize ARK for infrastructure and services.
As one of the pioneer interoperability platforms, ARK aims to fulfill the original promise of blockchain — making decentralized technologies accessible for both public and private benefit.
By continuing to refine its toolkit for custom blockchains, tokenization, smart contracts, and easy adoption, ARK seeks to become the blockchain routing system powering the next generation of decentralized networks and applications.