ARK will be drastically upgrading their technology and capabilities with the launch of Core v2 on 28 November 2018. ARK is the #81 cryptocurrency on CoinMarketCap with a market cap of USD 45 million and trading volume of several million USD per day. The code for Core v2 has been developed from scratch, and is ready to be deployed on the mainnet with a hard fork.
All ARK nodes will have to upgrade from ArkNode to ARKCore, but regular users will simply receive an automatic update. Since this is a hard fork, which necessitates widespread changes and coordination, there could be slight downtime. It is expected that exchanges will have an easy time upgrading though since the ARK wallet now integrates JSON-RPC.
A Scalable and Flexible Platform for Blockchain Development
ARK is an international collaboration among 23 developers from 11 different countries, with an ever expanding community, and is designed for blockchain innovators and startups. ARK aims to create an ecosystem of numerous linked blockchains, via SmartBridge technology, and there is room for infinite utilities. ARK uses delegated proof of stake (DPoS), which provides decentralized governance and a mechanism for securing the blockchain.
ARK is designed to be highly flexible and scalable, by offloading data and transactions to hundreds of side-chains. The update to Core v2 increases scalability even further, with transactions per block increasing from 50 to 150, and transactions per second increasing 300% from 6.25 to 18.75. This will lower transaction fees across the platform, since transaction backlog will become unlikely. Additionally, the transaction pool will be upgraded to provide better stability and reliability via memory optimization and SQLite. Beyond this, the update to Core v2 will implement dynamic fees, where users can choose the transaction fee they want.
The “Wordpress of Blockchain Development”
The primary purpose of the Core v2 upgrade is to turn ARK into a blockchain development platform that is as easy to use as WordPress is for building websites. Just like there are plugins for WordPress, there are plug-and-play blockchains for ARK; most of ARK’s processes have been decoupled, modularized, and retrofitted as plugins. This will give blockchain developers who use ARK maximum flexibility.
Furthermore, a new API has been developed for ARK to interact with servers, and it is more powerful and stable than the previous version. Webhook has also been implemented, which allows an app to deliver real-time data to other apps, versus older technology which polls for data at a set frequency.
ARK Core v2.1 will Bring Other Exciting Features
After the release of Core v2 the development team will focus on addressing any bugs or other issues associated with the hard fork, but will then begin putting together Core v2.1, which is scheduled for release in early 2019.
Core v2.1 will include ARK Pay, which will allow e-commerce shops to easily implement ARK payments. Additionally a new wallet will be released with an improved user interface, as well as a revamped ARK Whitepaper. Technical improvements include timelock transactions, improved multi-signature transactions, and improvements to the SmartBridge technology.
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