Ark Core v2

The Ark blockchain platform is set to receive a major upgrade on November 28 in the form of Ark Core v2. The hard fork will not be compatible with previous versions of Ark software, and Ark users will have to update their wallets – Ark will also be releasing a new desktop wallet to go along with Ark Core v2.

Ark is a blockchain platform that employs a delegated proof-of-stake (DPoS) consensus algorithm. At all times, the network is maintained by 51 validators, but the list of active validators changes depending on the amount of votes each validator is able to secure. The system is similar to EOS and Steemit (Dan Larimer invented the DPoS consensus mechanism).

After the Ark Core v2 upgrade, the Ark network will triple its maximum throughput from 6.25 to 18.75 transactions per second. According to the Ark team, the limit can be increased if necessary. Another feature is support for “plugins” that can be used to customize Ark-powered blockchains.

Ark delegates will also be able to set separate fees for different transactions types, giving users more options.

Ark Pay

An exciting development for the Ark ecosystem is also Ark Pay, which is slated for release before the end of the year. Ark Pay will enable simple integration of ARK as a means of payments at merchants. Although Ark is not really a project focused on the currency use-case, this should provide some useful utility for ARK holders.

The ARK token has not been spared by the recent price drops that have affected practically the entire cryptocurrency market. After falling as low as $0.34 on Tuesday, the token has recovered considerably and is currently trading at $0.48. ARK’s monthly performance is not looking pretty, however, as the token is down by 36.4% in the last 30 days.