ARK ecosystem and Smartbridges: The Future of Cryptocurrencies

FOMO and FUD investment strategies gains returns for the whales and a lucky few early investors. However, investors that aim at understanding the real use of cryptocurrencies, find better buys both in the short term and long term.
The current state in the world of cryptocurrencies has faced a challenge in the increasing number of FOMO investors, the fear of missing out all of the astronomical gains of a cryptocoin. This then translates to a FUD (fear, uncertainty and doubt) caused by some of these investors leading to massive dumps of a coin. This can sometimes lead to the loss of money to the other ‘hodlers’. The tale of two worlds in cryptocurrencies; As some investors smile at their gains, some are paying for their losses.

When the floods come at markets correct in this field of exponential profits, only the strong will stay afloat. ARK token will be one of these offering its investors a space afloat. ARK token is an undervalued coin, in my opinion, given its visionary idea in connecting all blockchains into the Ark ecosystem. The token has actual uses and this gives it massive potential in the crypto space. The coin currently (21 December 2017) has less than $1B in market capitalization that places it at number 48 on coinmarketcap.com. The token offers a total revolution to the cryptocurrency world.

Smartbridges
Before getting to know what the ARK ecosystem is all about, it is important to learn about smartbridge and how it gives the platform its increasing benefits. The concept of smartbridges changes the whole blockchain technology by allowing expansive connectivity between blockchains. A smartbridge simply is the ability to connect and communicate between different blockchains. Through the ARK smartbridge every blockchain will gain the ability and functionality of every other altcoin.

What is ARK?
ARK ecosystem is the fastest, decentralized, scalable and interconnected system that allows for integration between blockchains through ARK Smartbridge. The protocol utilizes a delegated- Proof-Of-Stake consensus mechanism with 51 delegates tasked with the development and running of the network. It pays dividends on coins when you stake them and vote for one of these delegates hence getting an instant growth in your tokens.
ARK ecosystem becomes an intermediary between blockchains by simply adding a small code to every chain. The developers of ARK’s ecosystem inserts the snippet code to the core code of the blockchain and is then connected to the ARK ecosystem. Once connected the protocol, it is very simple to execute an event on a blockchain through another blockchain.

What does this mean for the blockchain technology?
It means a start to endless possibilities. The only requirement needed is the compatibility of the chain to a Smartbridge, which most tokens (especially ERC20) have. Once connected to the Smartbridge, you can basically carry out any function on the blockchain using the ARK token. For example, if you needed to make a transaction on Bitcoin’s blockchain but you lack Bitcoins, you have to own the ARK tokens and through the Smartbridge carry out the transaction the same way as if you had Bitcoins. This can be translated to all coins and tokens that allow compatibility with ARK’s Smartbridge.
If you want to record an entry on Ethereum protocol, but only hold ARK, you can go to your ARK wallet, insert the correct information and instructions needed for the Ethereum chain on the Smartbridge tab and send it. The Ethereum blockchain receives the command and executes it as commanded.

The team
The protocol was founded and developed by 27 individuals from across the globe, with the team comprising of 17 core developers from 11 countries around the world. Mike Doty, the co-founder and Managing director of ARK, is a co-founder of BitSeed and Crypti, the latter is the predecessor to Lisk platform, and has a lot of experience in mechanical engineering and robotics. Francois-Xavier, who heads the development department was the core developer of Lisk up to August 2016 and has also worked in the European Union as a scientific officer in charge of architecting the use of satellite observation for maritime surveillance.

The rest of the team comprises of heavily experienced people in cryptocurrencies such as Lisk and Ethereum. The team shares a common vision on enabling anybody to use what blockchain has to offer by integrating different them through ARK’s Smartbridge.

The notion in media
The token has received massive reviews for its groundbreaking technology. As more and more tokens with various functionalities come to life, owning all of them might be a challenge given the transaction fees and lack of exchanges for some coins. ARK comes to solve all this by integrating the coins in one ecosystem making it easier for one to use any preferred coin or token. While reading through the company’s Reddit, Steemit, Twitter and Facebook pages, one can feel the positive acceptance of the coin from the masses, developers and investors at large. The coin has massive potential with a market cap of $851.86M and a daily average of $30M in volume traded.