Ark – Connecting Blockchains
Linking Blockchains Together
With over one thousand different cryptocurrencies and almost as many Blockchains running, each has its own respective eco system and community, if we look at Bitcoin, Litecoin, Ripple and many others they are self-sufficient (providing there is power to make the network run) and evolving into their designed niche…
Imagine if these Blockchains could be linked together!
By using Smart Bridges, the ARK Blockchain can communicate with other Blockchains new and old alike, this could potentially create a multi-Blockchain network utilizing the key features of each chain.
A good example of linking Blockchains is the Atomic Swap application, which will be used by several Blockchains, Bitcoin, Litecoin, Ripple, Vertcoin and others. This enables direct exchange of coins from one Blockchain to another without the need of any exchange or third party, though still in development there have been multiple successful test transactions.
Linking cryptocurrencies and ultimately Blockchains together is the next step for scaling and combining innovative networks, ARK’s Smart Bridge technology could benefit the cryptocurrency space in the long run.
ARK’s algorithm is similar to Lisk, using a Delegated Proof Of Stake algorithm (DPOS), the cryptocurrency itself can used for voting on network solutions and pays up to a 10% ‘dividend’ when you vote for one of the chosen fifty one delegates.
By being able to vote on the network, holders of the coin can make decisions regarding the future of ARK and its development.
The Recent Price Rally
ARK ended 2017 well, with a price rally against the dollar towards the final weeks of the year, ARK also broke out of its downward slope against bitcoin.
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