As we already know that 100000+ KYC people submit their KYC to particpate in public sale round and hard cap is 12500 ETH+ 6M CMT and max per participant is 3 ETH +7500 CMT so people gonna rush on it on 3rd february to get their ABT.This is exactly what gonna happen

Private sale was sold out with success.For public sale , 100000+ people submit their KYC to participate. public sale will start from 3rd of the february.Arcblock team find that number of interested people for public sale are more than they expected so they reduce the maximum contribution for public sale to 3 ETH + 7500CMT (cybermiles token) so that most of people can get tokens.

For more detail go through my last article or visit their website and read whitepaper. https://steemit.com/cryptocurrency/@hunnykaushal/arcblock-blockchain-ecosystem-for-building-and-deploying-decentralized-applications

ArcBlock is a type of platform and ecosystem which gives room for decentralized blockchain applications to be built and deployed. The platform provides more than just important background components such as powering complex business rules by using blockchain. It also connects an existing system to blockchain networks, which enables business processes to be automated by making use of data and identities from the existing system. The main aim for the creation of ArcBlock is to correct and remove every barrierwhich 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.

I read it on reddit and telegram group that there were many people at the beginning who were calling this project as scam because of following reason's

Arcblock claims to have partnerships with big companies like IBM and SAP - meanwhile there is no evidence of this anywhere to be found; the community admins on their telegram refuse to answer the question that is continuously asked of them: 'Arcblock claims to have partnership with IBM and SAP but there is no reference to these partnerships or any other on the net, please clarify.' Arcblock has no code on Github Lack of technical development roadmanp Whitepaper keeps telling you to refer to something else which is non-existent how will they prevent SIBIL attacks if the devs pay the “gas fee”? No mention of a lockup period for their coins.

They want $40mill for a project that has 0 foundations

Justin Tomboulian - is not the Microsoft CIO of Japan; if he were ever, his career there ended in 2013.

The team all have a track record for starting businesses that do not go far; this is not necessarily a bad thing - but are they just jumping on the bandwagon?

Here is what CEO answers on this

"Hi, ArcBlock founder and CEO here. Sorry for my English and typo, :) I am answering from mobile phone without proof reading help since I think it's important to clarify those asap.

First of all, thanks for all those questions, this actually helped us to understand better what need to be clarified. We, as a group of software nerds , are far better on dealing with computer science problems than writing a great white paper to cover every part of a complex system. :)

We are building our partnership with corporates and organizations progressively, and what appears on our website are just a beginning. There are all kind of partnerships we are trying to establish, but the most important one is you -- our future developer who considering to build apps on our platform.

ArcBlock is NOT an open source project, and nor is it developed by volunteers, we build it with commercial software development process which I have many years experiences. We will open source Open Chain Access Protocol and its reference implementation code once we reach RC (Release Candidate) milestone. We might consider open source more components in the future. ArcBlock is essentially like a Amazon AWS but for blockchains, you won't find any core AWS source code anywhere from the github, but Amazon release code samples, some frameworks, APIs etc. in open source license to help developers understand the system better. This is common practice in the industry, and we choose to do it in a similar way. We do have a simple version of roadmap and long term plan posted on the website, and we use Scrum process for our development, it's an agile software development process which means we embrace changes rather than have a fixed plan. We have started to build this platform almost 12 months before we start to write the white paper and we have decided to keep our team away from the distraction... it's a nightmare to have recruiters email and call your team all the time. We are actively hiring and we strictly need everyone keep silence on what we are working on. Hope the community will understand we will keep this in stealth mode even in the future.

Our platform is a pretty challenging one: we are not building a new blockchain, instead we are building a new computing platform for developing blockchain apps. Our white paper is far from comprehensive to cover every details of the system, it's just a high level overview of our design and how it will work. If you find there are anything in the paper that are not accurate or need clarify, please feel free to let us know and we will try our best to improve it. SIBIL attack is unlikely our major concerns since our system use a very different approach, the end users will not be able to broadcast transactions like they can do with Etherem or Bitcoin. As I mentioned, ArcBlock is not building a new blockchain, it's an application platform that works with existing blockchain technologies and we focus on provide a computing platform to deploy apps. There are many security problems we will have to face in the future, and the white paper didn't address this part.

Our team's incentive plan and locking period are yet to be finalized, since it's also a new concept for us to move away from Restricted Stock and Stock Option Plan to a token based incentive system. I think we will adopt some restrictions that will be similar to typical Stock Options/Restricted Stock: 48 months vesting period and 12 months cliff. We didn't announce this yet since it's some legal paper works in progress, we treat this seriously.

Our team and advisors all have proven track records, yes, there are success and failure in the past for all of us, who doesn't? Almost all my key team members and advisors have years relationship with me. e.g. Flavien was my peer back in Microsoft Europe. Justin was my Microsoft colleague and my co-author for one of the best Bill Gate's Think Week Paper, ... Long last relationship is the key to success, esp. for the challenging project like this.

I hope I answered some of the questions, and pls. feel free to add more questions that need to be clarified. "

Link to reddit post

https://www.reddit.com/r/arcblock/comments/7px6qy/why_arcblock_is_potentially_a_scam_they_kicked_me/

For more detail about project visit

Website

Whitepaper

Telegram

Twitter

Written by : https://bitcointalk.org/index.php?action=profile;u=1091429