Ark, which was established in 2016, is a blockchain ecosystem that seeks to simplify the integration and adoption of blockchain technology for both users and businesses. In a crowded blockchain space, Ark stands out by providing a range of tools that make it easy to create and deploy standalone blockchains. Its distinguishing feature is its ability to bridge the gap between various blockchain networks, encouraging interoperability and smooth communication. Unlike other platforms that limit developers to a single programming language, Ark supports many languages, making it more appealing and accessible to a wider developer community.
Ark uses a Delegated Proof-of-Stake (DPoS) consensus algorithm, which is a more energy-efficient alternative to the traditional Proof-of-Work (PoW) system used by networks like Bitcoin. Under Ark's DPoS system, token holders vote for a group of delegates who are responsible for securing the network and validating transactions. This voting mechanism not only ensures a democratic process but also incentivizes token holders with rewards, creating a community-driven governance model.
The platform's speed is another noteworthy feature, with block times of just 8 seconds, allowing for quick transactions and an improved user experience. Ark's ecosystem comprises various interconnected components, including the TypeScript-based blockchain protocol called Ark Core, and the Ark Launcher, which enables users to deploy their own blockchains with ease. Additionally, Ark's SmartBridge technology facilitates communication among existing blockchains, breaking down the barriers that traditionally hindered interoperability in the blockchain space.
ARK's total supply and circulating supply both amount to 177,655,038.
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