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May 1, 2018
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ARK Announces v2 Platform Update: The All-In-One Blockchain Solution

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ARK is a trusted and reliable platform designed around users needs. Made with user experience in mind, ARK aims to create a network of endless use-cases. ARK is a flexible and scalable platform designed for global use that users and developers alike can benefit from. The ARK Network had established itself as a fast and efficient network with a reliable community and team. In November of 2017, ARK completely overhauled the core code after highlighting key areas within the design that could be refined, for optimum performance.

Introducing ARK v2

ARK Core V2, the newest update to the network is in its final testing phase. The tweaking is in process and nearing completion, once ready ARK V2 will be ready for public testing. The duration of the testing period is uncertain but once public, the world is encouraged to try and hack, reveal bugs, and suggested areas of improvement. ARK’s commitment to consumer experience is evident by their willingness to encourage public scrutiny, to further develop and already established network.

The improved ARK v2 core is fully compatible with the v1 platform ensuring a smooth transition where a hard fork will be required, and the new block height will be announced thereafter. An official date is yet to be announced until ARK is ready, any dates announced by the public is speculation. As ARK approaches a new milestone, here are some of the standout features surrounding the upgrade.

Fast, reliable and scalable

ARK v2 is renowned for its even faster transaction times. With one of the fastest in the industry with an impressive 8 second blocktimes, consumers will no longer wait for their transaction to clear. There is also no need to decrease block creation times, which will not be changed. The improved platforms utilises Delegated-Proof-Of-Stake (DPOS) with delegates remaining at 51. Increasing the number of delegates will require a great deal of additional testing and increase latency and undermines the premise of decentralisation. The existing delegates are tasked with maintaining the network and are rewarded with block rewards much like miners in bitcoin.

As discussed ARK’s goal is to maintain and build upon speed and efficiency. The network also incorporates custom build SmartBridge functionality, ARK can off loads non-essential function to side chains to enable excellent scalability. Improvements and hot topics of this nature are what make ARK v2 such a groundbreaking chapter for the ARK team. However, it is not one individual who deserves all of the credit, ARK is a global collaboration. With 17 core members from 11 different countries, ARK is a global network of collaborators.

Currently, ARK Core v1 does have flexible fees but this was not available to the client and block creation level. ARK Core v2 on the other hand, enables flexible fees without the need for a hard fork, which elevates ARK v2 as the first ever DPoS Blockchain with a dynamic fee structure.

ARK Core v1 was already a credible and innovative network. However, with the added features and improvements ARK v2 is elevating itself as a market leader. The v2 core is fully compatible with the v1 which ensures and efficient transition to the new codebase, that is faster and more accessible to users. By continuing to strive for innovation ARK is pioneering the blockchain industry and breaking into new and exciting territories.

For more information on ARK’s new chapter visit the ARK blog post here. Join the ARK community on Telegram and have your say on the new improvements.

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