ArcBlock ICO Review- Ecosystem for Building Blockchain

Cryptocurrencies and blockchain technology applications market could increase in 15 years, reaching $10 trillion. That is according to the report published on January 3, 2018, by Royal Bank of Canada (RBC) Capital Markets analyst Mitch Steves.

It is stated that blockchain technology will create a “Secure World Computer,” a decentralized world computer that is more secure because there won’t be centralized servers that can be hacked, and suggests that next-generation killer apps will be built on top of this secure layer.

Arcblock - Platform and Ecosystem

As a platform and an ecosystem, with ArcBlock, building and deploying decentralized blockchain applications will be the solutions for the business process who aims to have blockchain system.

The platform goes beyond providing the necessary foundational components for using blockchain to power complex business rules. It connects your existing system to blockchain networks, enabling you to automate business processes using the data and identities associated with existing systems.

It aims to remove the barriers that have slowed blockchain adoption among the general public. They are passionate about developing unique approaches that will significantly advance blockchain development.

ArcBlock solves the current blockchain problems through its revolutionary new design. Unlike its predecessors, ArcBlock is a platform service, rather than a standalone software package or set of APIs. ArcBlock is a comprehensive solution that combines blockchain technology with Cloud Computing.

As an incentive-driven marketplace, miners in ArcBlock platform or people who contributed resources or services will be rewarded with tokens to form a positive, self-growing platform that continues to evolve on its own.

Blockchain 3.0

ArcBlock represents a major technological advance - 3.0 generation of blockchain applications.

As we can see in the figure , the first blockchain was - Bitcoin with a simple ledgers that record transactions. Followed by Ethereum where it features smart contracts. Then the Blockchain 3.0 with Arcblock platform featuring Cloud Node, Open Chain Access, Blocklet and Incentive for self evolution.

Blocklet does more than access blockchains. It connects to any existing data source, and performs both on-chain and off-chain computing. ArcBlock represents a major technological advance that will usher in the 3.0 generation of blockchain applications.

Technology

ArcBlock is a self-evolving ecosystem not just a software platform. It is optimized for the best experience. It is also designed to run natively in the cloud that will help elevate blockchain and decentralized applications to the next level. It also improve the developer experiences, they don't need to deal with a low level of blockchain protocols and no need to run a local blockchain test nodes on testing the apps. It is built with an open standard. They are trying our best to build for the application developer’s wants and needs.

ArcBlock’s design is based on following core principles:

- The user experience comes first.

- Performance matters where they are looking for a speed of one hundred thousand transaction per seconds

- The system will be built on an open standard.

- The system will build upon an Incentive-driven economy where if you are a miner or contributing to the development, you will be rewarded with an ArcBlock tokens.

THE ARCBLOCK TOKEN (ABT)

Within ArcBlock, the ABT token will be the basic utility value to pay for the cost of using the ArcBlock system. Like a cloud computing service, the ABT is a utility token for paying the cost associated with using the service.

Unlike Ethereum or Bitcoin, where users typically pay a fee for each transaction they make, ArcBlock is designed to let application providers pay the transaction fees for their end users. This approach vastly improves the user experience. Developers pay on a monthly basis, enabling them to add up small units and save money. ArcBlock also request developers to lock in a number of ARC token as a stake when they need to provide mission critical services.

ROADMAP

The roadmap started last year with concept development and proof of concept and prototype development of blocklet with Ethereum.

During the fourth quarter of 2017, they developed the architecture for token design functionality and the Token Economy Service.They also implement the Ethereum adapter with Open Access Protocol and complete the prototype for the first end-to end application built on top of ArcBlock.

This first quarter of 2018, they will focus on it's token sale event. Private sale already started last January 12 and the public sale will begins this February 3, 7pm CST to Feb 10, 2018. All tokens sold will be distributed within 4 weeks of the end of the public sale.

Conclusion

Becoming involved with cryptocurrencies will be a smart move but for me I'm very optimistic about the market of blockchain technology for the future. I would consider a blockchain platform like ArcBlock especially it introduces new features and it aims to solve the current problems of blockchain technology such as poor performance, high transaction fees, not consumer friendly and lack of features.

Source : ArcBlock Whitepaper

For more info:

Website: https://arcblock.io/  [ANN] thread: http://bit.ly/ABTANN  Twitter https://twitter.com/ArcBlock_io  Instgram https://www.instagram.com/arcblock/  Facebook https://www.facebook.com/arcblock.io/  Telegram https://t.me/ArcBlock  LinkedIn https://www.linkedin.com/company/18355951/  Reddit https://www.reddit.com/r/arcblock/  Medium https://medium.com/arcblock

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Disclaimer: I am not a financial advisor. It is not intended to be investment advice. I do research and reference the sources that I use within my writing. This is my personal views and opinions and is for information purposes only.