It was only in 2017 that blockchain technology really became ubiquitous in worldwide media, and definitely turned up on the radar of many of the world’s leading investors and financial experts. The market cap alone went up from around $15 billion to around $800 billion, increasing 53 times. Blockchain technology has been so successful, in fact, that some national governments are considering creating their own official cryptocurrencies.
However, all cryptocurrencies have had some issues, and none more so than the two most commonly used and spoken about – Bitcoin and Ethereum. These issues range from excessive processing times for a simple transaction to excessive processing fees demanded by the system. Therefore, it is only natural that, as the Blockchain technology proliferates, these problems are eventually fixed. That’s where ArcBlock comes in.
Simply put, ArcBlock can be considered to herald a new generation of Blockchain technology and usage. There are certain improvements added on top of the existing technology that truly merit saying that it is Blockchain 3.0. It does this by adding three new features:
The Cloud node, which utilizes cloud computing technology, to allow the system to run on virtual nodes made up of one or more virtual devices, or even to expand to comprise multiple cloud services working in unison in a sort of meta-cloud.
Open chain access allows for compatibility with already existing cryptocurrencies such as Bitcoin, Ethereum, hyperledger etc. This is done using something the developers call ‘chain adaptors’.
Blocklet is the dev’s term for what is essentially the core of the technology. The ArcBlock platform consists of a series of Blocklets, which allows it to communicate with the core blockchain and back again with the user interface.
There are multiple reasons why ArcBlock is different form the multitude of other blockchain platforms currently in development worldwide. ArBlock aims to solve some of the most important and frustrating problems that have plagued the blockchain technology for the past few years, as usage went up.
Firstly, the number of transactions the system is able to manage has increased significantly. Where Bitcoin can only process 7 transactions per second, and Etherium 20, ArcBlock can process in excess of 100.000 transactions per second, taking the blockchain technology much closer to the processing speeds required by today’s financial markets.
Secondly, ArcBlock is not built in such a rigid and unwieldy way, as opposed to cryptocurrencies such as Bitcoin. It was made to be able to evolve to fit the needs of its users constantly, so that there are no longer any drawn out disagreements and fights within the community that is using it.
Before committing to investing in a new cryptocurrency, it is very important the the prospective investor is aware of how the financial development of the currency in question was designed. Therefore, let us take a look at some of the most important metrics pertaining to ArcBlock.
Firstly, it is important to point out that only 186,000,000 token will be issued, and no more than that. That means the supply is limited, which guarantees that the price will never fall below a certain level.
The developer plans to sell off at least $47 million in tokens at the upcoming presale and sale events. At the Initial Coin Offering, around 45% of the total token stock will be sold, at a price of $0.63 per token.These tokens are designed to be used to cover the costs of using the ArcBlock system.
It should be expected that ArcBlock will be able to grow at a far faster rate than the cryptocurrency market as a whole. The market cap should grow to about $6 billion by the end of the year, which would provide a 12-fold return on investment. A lot of traditional bankers would kill for that sort of return…
ArcBlock as a platform strives to correct some of the most glaring flaws related to the entire field of blockchain technology, which is why it is a relatively safe and smart investment. In fact, once these issues are resolved, perhaps precisely by ArcBlock, we can expect blockchain to go mainstream, at which point you will be very pleased with yourself if you got in on the action early!
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