Other than the cold staking to obtain a share of forging rewards from the chosen delegate, the ARK token may also be used to show the tokenholders’ commitment to a transparent decision-making and their strong desire to implement the decisions made from said process.

In other words, it is a leaning for good governance, a framework that is:

a. participatory,

b. consensus oriented,

c. accountable,

d. transparent,

e. responsive,

f. equitable and inclusive, and

g. effective and efficient.

Using the above-mentioned on-chain voting, the Ark Community must practice regularly and periodically a world-wide electoral exercise of choosing its “chief” delegate. It will show how the Ark community could be in an agreement eventhough it is composed of anonymous members spread all over the world, and in theory, in a matter of minutes. It is not only cutting-edge because of the theoretical

speed, but the process’ immutability, transparency, fairness and auditability will make any decisions credible and binding.

The chief delegate position does not make the holder as the most important or most powerful. The holder only attain a ceremonial title of “Primus inter pares” or the First among equals. It does not change the consensus model. Decisions of the chosen delegates will always be made “enbanc” which the majority rules. The term “chief” will mean an added responsibility of being accountable to the other delegates. Moreover, the chief delegate will act as the most high profile member and mouthpiece of the Ark community.

Bear in mind that ARK utilizes a modified Delegated-Proof-Of-Stake (DPoS) consensus mechanism featuring 51 delegates.

These delegates are responsible for running the public network and are rewarded with block rewards.

The chief delegate, having a community-wide mandate, has the moral suasion powers that could influence the network operators and users to act in an efficient, effective and ethical manner.