What is ArcBlock?
ArcBlock is a typeplatform and an ecosystem for building and deploying decentralized blockchain applications. The platform provides more than just important background components such as powering complex business rules by using blockchain. It is also linkscurrent system to blockchain networks, which enables business processes to be automated by making use of data and identities from the existing system. The main purpose for the creation of ArcBlock is to correct and remove eachbarrier which has made the progress of blockchain adoption slow among the general public. Sequel to this aim, necessary strategies are being put to place to develop unique approaches that will significantly speed up the process for blockhain adoption.
Some of the major problems of today’s blockchains include
- Poor Performance,
- Lack of Features,
- Platform Lock-in,
- Not Consumer-Friendly,
All these problemsare being solved by ArcBlock platform through its revolutionary setup and design. This platform completely provides a very comprehensive solution by combining blockchain technology with Cloud Computing. It is a platform service unlike other predecessors which are a standalone software package or set of APIs.
Characteristics of ArcBlock;
The following features will enable ArcBlock to achieve its goal of addressing the challenges in the current blockchain apps.
Such advantages include:
- Built for New Token Economy:ArcBlock is known to be a self-evolving ecosystem and platform and not just a software platform built by a centralized organization. The main drive of ArcBlock is the token economy. ArcBlock is incentive economy-driven and it encourages the blockchain community to work together in building a better ecosystem.
- Optimized for the Best Experience: The ArcBlock platform was built using a “top-down” strategy which focuses on users’ experience.
- Built for the Cloud: The design for ArcBlock is to run natively in the cloud. This mechanism can allow to run on a single computer for testing and development.
- Built with an open standard: ArcBlock is primarily built with an open standard. There is a recent development of building to satisfy the application developer’s wants and needs.
The team members of the ArcBlock technology are actively involved with a wide range of standard organizations, non-profit foundations and committees. This association with this organizations, foundations and committees could be in form of partnership. These currently include the W3C Blockchain Community Group, IEEE Standard Association’s Blockchain Community, Enterprise Ethereum Alliance, Linux Foundation, and Hyperledger Foundation, Expansion of this list is possible over time.
Benefits of ArcBlock Over the Current Blockchains;
- ArcBlock will allow for the development of apps accessible via the web browsers or mobile download. This is unlike current blockchain apps that are not accessible via these platforms without plugins. As a result, the technology will become available to more people than it is currently.
- ArcBlock is not platform developed by one centralized organization. Given that the platform is token economy-based, it is expected to grow and expand on its own. Developers will have an incentive to develop apps as they will be rewarded with tokens.
- ArcBlock has a component called blocklet. This app addresses the problem of low performance experienced by the current Blockchains. This high-level application connects to any data source. This will enable the app to handle more users on a daily basis that it is currently managing. As a result, more people will now access and use blockchain.
- ArcBlock will run in the cloud. This means it will be different from other Blockchain apps. This will allow for easy deployment of other technologies and innovations in the ecosystem. This means users will access more services due to the ease of incorporating new apps into the system.
- ArcBlock is Open Chain Access Protocol enabled. This feature will address the lock-in challenge experienced in the current Blockchains. Developers are now free to choose the blockchain protocol of their choice. This will lead to an improvement in both the developer and user experiences.
- ArcBlock has been developed using the “top-down” strategy that mainly focuses on user experience. Whereas the current blockchains that require technological know-how, ArcBlock is different. The access to reactive and real-time experience on this platform is a familiar process. More people will now access and use blockchain apps and can use them like any other app.
- Another effect that ArcBlock will have is a reduction in the costs of using Blockchain. Given that developers will be earning tokens after developing new apps, charges on the usage these apps will reduce. This will encourage more people to start using Blockchain around the world.
Just the once these challenges are addressed, more people, businesses, and developers are expected to hugblockchain technology. When more people using this technology, the usage of cryptocurrencies such as Bitcoin among others is estimated to receive a noteworthy boost. Their values are expected to improve as a result of increased usage in the society. Efficiency in the different sectors of the economy is also likely. The cost of conducting business is expected to drop as a result of the reduction of the transaction costs and time. Governments and international non-governmental organizations are expected to rely more on the blockchain technology than the current financial tools.
ArcBlock is as a resultanticipated to help in the elimination of the challenges experienced in the use of the current blockchains. It is a technology that has come at the right time when so many people and businesses have developed an interest in a technological innovation that they don’t understand. Different financial institutions around the world such as banks should brace themselves for the rapid changes that will be brought by this new technology. Investors should also take this opportunity to invest in crypto currencies as their values are expected to increase due to increased usage. Those who will be ready to buy ArcBlock tokens stand a chance to make considerable benefits in the future.
ArcBlock Token (ABT)
Briefly, ArcBlock Token (ABT) is the creativeArcBlock platform. Achieving high performing transactions, the company creates an optimal blockchain dedicated to the ArcBlock token service and public ledger. The design goal is to reach> 100,000 Tx / s, which is more than enough for a wide range of applications. In the next future this blockchain can be upgraded for a wider purpose. ABT is planned as a general purpose token that can be used in different scenarios. In ArcBlock, the basic utility value of ABT is to pay the cost of using ArcBlock system. Like cloud computing services, ABT is a utility token to pay fees associated with using this service. Unlike Ethereum or Bitcoin, where users typically pay a fee for every transaction they make, ArcBlockis designed to allow application providers to pay transaction fees for their end users. This approach greatly improves the user experience. Developers pay monthly, allowing them to add small units and save money. ArcBlock also asks developers to lock a number of ABT tokens as shares when they need mission critical services.
- Private Sale | KYC Required
Privatesale hardcap: 25000 ETH
1 ETH = 2052 ABT (minimum 150 ETH, 3000 ETH)
Private Sale Begins: January 12th, 2018.
- Public Sale | KYC Required
Public Sale hardcap: 125000 ETH + 6M CMT.
1 ETH = 1900 ABT (minimum 0.1 ETH, 50 ETH)
1 CMT = ? ABT (minimum 200 CMT, 150000 CMT)
(CMT/ABT rate will be locked before the public sale)
Private Token Sale Begins: February 3rd, 2018 at 7pm CST.
Private Token Sale Ends: February 10th, 2018 at 7pm CST.
Roadmap and 5 Year Plan
[ANN] thread: https://bitcointalk.org/index.php?topic=2699379.0