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ARKLearnAPISDK
  • Introduction
  • Prologue
  • 1. Introduction
  • 2. Blockchain Trilemma
  • 3. ARK Core Values
  • 4. ARK Public Network
  • 5. ARK Network Uses
  • 6. Open Source Software
  • 7. ARK Core
  • 8. ARK Peripherals
  • 9. ARK Logic
  • 10. Smartbridge Technology
  • 11. ARK Business Strategy
  • 12. Conclusion
  • 13. Resources
  • 14. References
  • 15. Legal Details
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  • 5.1 Role of the ARK Public Network
  • 5.2 A Peer-to-Peer Cryptocurrency
  • 5.3 Medium of Exchange for ARK Mainnet Services
  • 5.4 Convenience in Interoperability
  • 5.5 Liquidity for Small and Large ARK Bridgechains
  • 5.6 Payment Method for Plugin Marketplace
  • 5.7 Payment Method for Delegate and Talent Marketplace

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5. ARK Network Uses

5.1 Role of the ARK Public Network

The ARK mainnet operates differently from other networks built on separate layers in the blockchain space. On some other public networks, a base communication layer with an incentivization protocol acts as a foundation for some type of decentralized application layer, be it storage, CPU-as-a-Service, tokenization, smart contracts, or similar. While ARK technology is highly extensible through plugins, modules, and transaction types, the ARK mainnet remains unbloated, lean, and fast. Using ARK products such as the ARK Deployer, other ARK based blockchains will appear in the ARK Ecosystem to handle specialized tasks as necessary. These newly created chains will then connect back to the ARK mainnet using ARK SmartBridge Technology. The ARK mainnet is intended to take on limited specialized functions only as needed and to facilitate the ARK mainnet as the hub of the ARK Ecosystem.

5.2 A Peer-to-Peer Cryptocurrency

At its core, the ARK Public Network hosts a global cryptocurrency called ARK that can be used for storing and transferring value, similar to Bitcoin, but faster and cheaper. Moreover, ARK can act as a unifying medium of exchange as needed within the ARK Ecosystem, due to its reach and liquidity. With the advent of the ARK Pay module as well as ever-evolving, intuitive lite clients, ARK is well positioned to be an effective network for both store-of-value and value transfer.

5.3 Medium of Exchange for ARK Mainnet Services

Delegates that reach forging status on the ARK mainnet may deploy services that either award or accept ARK. For example, a delegate running bounty campaigns can easily pay bounty recipients in ARK in exchange for providing value to the ARK Ecosystem through development, design, or outreach. Moreover, delegates that deploy or integrate their own platforms on the ARK mainnet can accept ARK for their services.

As an illustrative example, a large e-tailer could deploy a node and gather votes to enter forging status. They would then accept ARK on their e-tailer website for their wares, and offer big discounts to ARK holders and perks to their voters. When goods or services are exchanged, the costs of discounts could be offset using their delegate wallet, which generates new ARK by virtue of forging. This would theoretically result in a type of ‘discount faucet,’ increasing their sales by simply running a forging delegate node and accepting ARK, all without actually reducing margins. In this example, the ARK community benefits overall from the increased adoption and enjoys lower prices.

5.4 Convenience in Interoperability

Many ARK based blockchains will have use cases that benefit ARK mainnet users. These use cases can appear in the ARK wallets in the form of a plugin. When ARK users wish to interact with a specific use case, they can do so without leaving the ARK wallet. As the number of available use cases within the ARK wallet grows, so too does the convenience and utility of ARK. Newly created blockchains can also choose to list on fiat or crypto exchanges to give users access to tokens. ARK’s approach simplifies the steps required to establish a blockchain and to deploy decentralized applications, all while both mitigating risk for the end user and preserving the sovereignty of bridgechains.

This mechanism can extend beyond bridgechain coins to bridgechain non-fungible tokens, for example, in situations where NFTs become available for acquisition via SmartBridge. Imagine a video game launching a blockchain with a fixed number of specific weapons, items, and powerups on genesis. The assets could then be freely exchanged both within the bridgechain microcosm in question or via SmartBridge using ARK. Such an arrangement of parallel chains significantly if not entirely reduces bloat on the ARK mainnet.

5.5 Liquidity for Small and Large ARK Bridgechains

New blockchain projects frequently struggle to offer basic services for liquidity. Listing on reputable exchanges incurs listing fees, other red tape, and can take significant time. The communities around such young projects face the inconvenience and risk of dealing with small fly-by-night exchanges, which are also subject to hacks and theft. Decentralized exchanges represent one possible solution, but they too suffer from liquidity issues. The end result is that centralized exchanges wield a great deal of power over growing projects and their communities. ARK SmartBridge Technology can step in as a reliable first stage for decentralized exchange of assets and price discovery. The intertwining of ARK bridgechains with the greater ARK Ecosystem and ARK mainnet creates possibilities that benefit everyone.

5.6 Payment Method for Plugin Marketplace

The modular structure of ARK technology lends itself to the creation of a marketplace of both Core plugins and client plugins. While most ARK technology is open source and comes with boilerplate MIT-style licenses, this may not be true for all plugins. Both the ARK business entity and third parties have the ability to develop premium plugins capable of generating streams of income in the form of licensing. License management and fees can be handled on-chain using the ARK mainnet and bridgechain registration, or via other specialized transaction types. Like the Android and iOS application marketplaces, ARK can sustain a premium plugin and licensing marketplace where developers can generate revenue streams. The medium of exchange for such a marketplace will be ARK. Plugin developers will be incentivized to accept ARK, as it will further the adoption of the very technology they utilize.

5.7 Payment Method for Delegate and Talent Marketplace

As the ARK Ecosystem evolves, there will be a growing need for talent and human services. For example, public networks launching new ARK based blockchains as well as commercial interests launching tokenless blockchains using the intuitive ARK Deployer may need assistance in handing off genesis delegates, and/or customizing their chain beyond what the ARK Deployer can offer. In an alternative scenario, private enterprise chains may wish to distribute node ownership across both their internal organization and external operators in the interest of accountability. In this instance, delegates and delegate teams well versed in ARK technology can accept ARK coins from these enterprises in exchange for running tokenless nodes and offering consulting services. It is even within reason that private enterprises may wish to outsource all node operations to delegates in the public marketplace and simply distribute ARK to the delegates for the services of running tokenless enterprise chains.

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Last updated 5 years ago

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