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The ARK blockchain network released Core V2, the second version of its main system. "ARK has been forked seamlessly in the background and the code is now fresh," says the boot. The company emphasizes that ARK has become "the first and only" pole-based testing service (DPoS) with dynamic tariffs. Users decide how much they want to pay for transactions using the ARK wallet.
Mainnet as a milestone
The company calls the migration to Core V2 – which has already been successfully completed on its mainnet – the start of a new era for ARK. The team now hopes their updated ecosystem will allow developers to create new features and modular customizations.
The launch promises that at the 6.6 million block (6,600,000), the network transaction limit will be increased from 50 to 150 transactions per block. ARK has announced that it has already reached 150 transactions per block at a rate of 19 transactions per second (TPS): in comparison, Ethereum currently has 15 TPS and Bitcoin has 7 TPS.
Recently, ARK has also collaborated with Bugcrowd, a crowdsourcing security testing platform, which will protect the renewed ARK ecosystem. This means that ARK will have access to a global community of over 100,000 experienced researchers. Using different techniques, they monitor and identify critical issues quickly and effectively. Bugcrowd is also famous for its customers, such as Netflix, Tesla, Pinterest, Motorola, Western Union, etc. ARK will use all the services of Bugcrowd, including its private and public programs.
At the same time, the community-based development team, called Ark Labs, successfully integrated the intelligent contracting skills into the ARK blockchain using HyperLedger Fabric technology. Its SmartBridge functionality allows you to create, start and manage smart contracts between two different blockchains. HyperLedger provides support for ARK for intelligent contracts written in Javascript, Go and Solidity.
Changes for users
ARK users can get Core V2 by downloading the new Wallet V2. This completely rewritten service allows the use of the new system of dynamic commissions. Now, users can set how much they want to pay for each transaction they send. This system will be set up as a "paid market", where delegates can set their rates and users can choose the offer they like best.
The ARK team also added a new option to encrypt users' passphrases with a custom password. Wallet V2 allows users to save the encrypted passphrase on their computer. It is decrypted by the chosen password that the owner of the digital wallet uses to sign the transactions. All transaction details are now easy to see inside the service. Beyond that, the ARK team also has other new features, such as a market table and the ability for users to create different profiles. The startup promised to add more updates in 2019, along with the new version of the main ARK V2.1 system, on which the team is now working.
Plans for the future
The new version of the ARK basic system will be V2.1, which will include even more new features and improvements. For example, the transaction protocol (AIP 11) and the multisignature protocol (AIP 18) will be updated. The former will enable new types of transactions such as multiplication, IPFS and timelock. The team will also try to solve some of the limitations of the current multisign implementation. The ARK team will continue to send frequent updates on the entire ARK ecosystem, as announced in their roadmap.
In the coming weeks, the launch will also release an open source library called ARK Pay. It is supposed to help traders to accept ARK as payment. For example, a QR code will be easily scanned by mobile and the user will only have to sign the transaction.
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