The blockchain technology, while interesting as it is, has a lot of roadblocks in its mass-scale adoption. One of the main hurdles that individuals and enterprises looking to integrate the technology face is the complex nature of the blockchain. The use of smart contracts has been becoming increasingly rampant because they facilitate the use of decentralized applications and finance. This limits the entry to the market only to those who are well-versed in programming and the blockchain technology.
But the popularity of the blockchain technology has paved the way for projects that makes the use of the technology easier. Ark is one such project. It eliminates the need of smart contracts – making the market more accessible.
What is Ark?
Ark is blockchain-based development program that allows individuals and enterprises to custom build blockchains that are curated to their specific needs. Moreover, as blockchains can be developed on Ark’s platform without the need of smart contracts, it breaks all barriers to entry in the market. The aim of the network is to facilitate the mass adoption of the blockchain technology by enabling a fostering sandbox environment.
Ark fulfills its goal of increasing accessibility to blockchains through its variety of distinct features. It provides push-button deployable blockchains which allows users to easily fork out Ark and create their own blockchains. Moreover, since Ark does not provide smart contracts, it has a plethora of programming languages available. Lastly, the platform also has SmartBridges which brings interoperability to the Ark’s ecosystem. Chains created on the platform are created to Ark’s mainchain through the SmartBridge technology which, in turn, allows it to connect with any other chain on the platform.
The blockchain of Ark utilizes a Delegated Proof-of-Stake consensus protocol where delegates are tasked with securing the network in a completely decentralized manner. Moreover, the DPoS also offers better security and decreased transaction costs.
Future outlook
Ark has been moving upwards in the recent timeframes; however, the uptrend may have broken. At the time of writing, the cryptocurrency stands at a price level of $2.13 while the price has dropped by 5% during the day although the daily trading volume is moving upwards.
The future projections for the cryptocurrency are bullish. According to the estimates of Wallet Investor, Ark is expected to be operating at a price level of $2.987. The uptrend is hoped to continue until the price reaches $6.761 in five years’ time. Digital Coin Price suggests a similar trajectory for the cryptocurrency with the price by 2026 expected to be at $7.22.
