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What is ARK (ARK)?

ARK (ARK) is the native cryptocurrency of the Ark blockchain, a Layer 1 network launched in March 2017 designed to make blockchain development and deployment more accessible. ARK is used to pay transaction fees, secure the network through Delegated Proof of Stake (DPoS), and reward delegate node operators.

The History of ARK

ARK was founded in 2016 and launched its mainnet on 21 March 2017 following a successful initial coin offering. The project was built by a global team of developers focused on lowering the barrier to blockchain adoption and making it simpler to launch standalone chains without sacrificing interoperability. Since launch, Ark has gone through several major upgrades including the Ark Core framework and ongoing work toward EVM compatibility through ArkVM.

The Use Case of ARK

The primary use of ARK is as the native asset of the Ark network. It is required to pay for transactions on the chain, and underpins Ark's Delegated Proof of Stake (DPoS) consensus mechanism, where token holders vote for active delegates who validate blocks and maintain the network.

ARK is also designed to serve as a connective token within Ark's ecosystem of customisable chains. The aim is to allow standalone Ark-based chains to interact with one another and with Ark itself, with ARK acting as a bridge asset that supports cross-chain transfers and shared utility.