The project was created by Mike Doty and Francois-Xavier Thoorens and their team of specialists in 2016.
Ark is a new platform that is aimed at the adoption of blockchain technology by consumers. For these purposes, it uses innovative achievements, making it more popular and accessible to users. Besides, the network uses smart bridges that connect it to other blockchains, making it an interconnected ecosystem.
When developing the platform, creators used the best parts of Lisk and Bitshares. The platform uses 14 programming languages, as well as an improved Delegated Proof of stake algorithm. Moreover, a more decentralized voting system that can protect against attacks is provided. The network operates on the delegation principle. 51 participants (server) are selected to create a blockchain and process transactions, receiving a profit for this activity.
The transaction processing time is about 10 seconds. ARK encourages coin distribution and provides various tools, among which are: multi-signed accounts, anonymous financial transactions, game tokens, etc. The developers plan on creating an ARK coin that will be freely convertible with both digital currencies and fiat money. Holders will be able to use it to pay for any product or service.