ARK Riding Waves: What is ARK - Where to Buy, How to Store
ARK has grown steadily over the past few months and looks stronger than ever with new developments on the way.
Ark (ARK) has been showing some strong price action this week in anticipation of its new Ark Core V2 upgrade; with a climb of 55% from $6.07 to $10.73. Currently the alt coin sits at $8.90 after a minor correction.
The team claims to be totally re-writing the main node’s code from scratch to deliver faster transaction times and support new features, including Ark’s very own smart contract deployment.
What makes Ark unique?
Ark is a cryptocurrency that has pioneered an interoperable ‘SMARTBRIDGE’ blockchain system between all cryptocurrencies, which uses ‘encoded listeners’ and ‘vendor fields’ to link any blockchain app function to another. This means that Ark’s ‘SMARTBRIDGE’ system could potentially be used to run say, a Lisk function on the Bitcoin blockchain.
This is huge for the industry as it will not only expand the functions of all cryptocurrencies to encompass extrinsic features of other blockchains, but will also allow for potential atomic swap functions across Ark’s ecosystem, removing the need for exchanges.
On their roadmap, the Ark team has released plans to incorporate their own smart contract system on an Ark Virtual Machine. This will be similar to smart contracts we see currently on the Ethereum network, which have already attracted huge interest from outside industries.
The team also plans to bring simplicity to new crypto startups that wish to create a clone-able Ark currency. With ‘push button deployable blockchains’, Ark will make forking the blockchain a breeze, while automatically making them ‘SMARTBRIDGE’ compatible.
With so many new features in the pipeline for 2018, it’s no surprise that we have seen the price soar despite Bitcoin’s steady decline this week. Currently climbing from its earlier correction this morning, it looks like it might break through it’s all-time high of $10 again soon.
Where to buy ARK
ARK can be purchased from most exchanges, including Bittrex, Binance, Cryptopia and OKex.
**It’s worth mentioning that after a few weeks of suspension, Binance is now accepting new users, while sadly Bittrex is still in the process of upgrading its systems and is therefore still not open for new registrations.
Where to store Ark (ARK wallets)
Ark has one of the best desktop wallets around at the moment, with great usability and unique features such as a voting option to elect one of 51 delegates for staking Ark coin.
The new 1.5.0 wallet upgrade includes an address validator, meaning that when you send ARK from one address to another, it will scan the receiver address before sending funds to ensure that it is an ARK address and not another crypto address.
This solves a prominent problem in the crypto space, particularly for new users sending funds for the first time, where it is all too easy to lose coins that have been accidentally sent to the wrong address. In these circumstances, ARK’s new wallet upgrade alerts the sender that the address is invalid and prompts the sender to change the address.
To download the latest version of the Ark desktop wallet you will need to visit their official website and click on the “Wallets” the top right of the screen, and scroll down and click “Desktop wallet”. This will take you to their Github page. Simply select your computer’s operating system from the menu and follow the usual downloading process.
**As always when downloading any Desktop wallet, it is VITAL that you save your passphrase offline. Pen and paper is recommended, though some recommend the safest option is to get the 12-word phrase on metal. This protects you from losing your passphrases in the event of a fire.
The roadmap also shows the completion of iOS and Android compatible wallets and they may be released very soon for mobile users.
What do you think about ARK? Share your feedback or questions via the comments below.