ARCBLOCK TOKEN REVIEW

joppa (25)in #ico • 7 years ago

WHAT IS ARCBLOCK ?
ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain
applications. 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.

PROBLEMS WITH TODAY’S BLOCKCHAINS

Blockchain technology is still in its infancy. There are many issues preventing developers and
businesses from creating widespread, decentralized blockchain applications.

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     POOR PERFORMANCE
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Performance is one of the main challenges facing current blockchain technology. The blockchain that Bitcoin uses is designed to handle seven transactions per second, and Ethereum can only handle a few more. As of December 2017, a simple CryptoKitties1 application can slow Ethereum and increase transaction fees dramatically.

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     NOT CONSUMER FRIENDLY
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Today’s blockchain applications are built for the few tech whizzes who know how to use them, rather than mainstream consumers. Nearly all blockchain applications require users to either run a blockchain node or install a “light node.” The learning curve and effort involved has delayed adoption among the general public.

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     COST
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The extremely high cost of using blockchain technology is a major barrier to mainstream adoption. It also limits developers who need the flexibility to build free services. Just like today’s web and mobile apps, users shouldn’t have to pay for every minor action. Similar to the Internet, blockchain technology should be able to support free applications.

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     PLATFORM LOCK-IN
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As with the early days of any computing technology, blockchains have critical “platform lock-in” problems. Developers have to decide which blockchain to support, then implement platform-specific code that makes it very difficult to switch an application to a different blockchain later on.

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     LACK OF FEATURES
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People have high expectations for blockchain—the news media, evangelists, and journalists paint a bright future for decentralized applications for the public, especially with the increasingly high prices of cryptocurrencies. In reality, however, blockchain technology is still in its infancy. Most blockchain services lack rich features and don’t have a mechanism to encourage the community to contribute to the feature stacks.

THE SOLUTION

ArcBlock solves these 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.

ARCBLOCK’S ADVANTAGES

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     BUILT FOR THE NEW TOKEN ECONOMY
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ArcBlock is a self-evolving ecosystem—not just a software platform built by one centralized

organization. We at ArcBlock Foundation Limited and the ArcBlock Foundation are only jump starting the project; the platform will continue to develop and grow on its own.

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     OPTIMIZED FOR THE BEST EXPERIENCE
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We built the ArcBlock platform using a “top-down” strategy that centers on the user experience. In contrast, many existing solutions focus on the blockchain technology itself at the expense of user friendliness. Applications built with ArcBlock offer reactive, real-time experiences. Users can simply access them from a web browser (no additional plugins required), or download a mobile app directly from an app store. Either way, the process is familiar.

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     BUILT FOR THE CLOUD
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ArcBlock is designed to run natively in the cloud. It can also run on a single computer for testing and development.
This design principle makes ArcBlock fundamentally different from many other platforms in the blockchain world. In ArcBlock, a node can be a “logical computer” comprised of one or more virtual machines, or a group of cloud services working together as a computing environment. This approach marks a significant step forward that will help elevate blockchain and decentralized applications to the next level, including our patent pending technologies.

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     BUILT WITH AN OPEN STANDARD
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ArcBlock is built with an open standard. We’re trying our best not to reinvent the wheel and to build for the application developer’s wants and needs. In addition to open sourcing our core components, we will also actively contribute to a variety of blockchain technology communities.

THE TOKEN ECONOMY AND THE SERVICE

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     THE ARCBLOCK TOKEN (ABT)
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The ArcBlock Token (ABT) is native to the ArcBlock platform. To achieve high-performance
transactions, we built an optimized blockchain dedicated to ArcBlock’s own token services and the public ledger. The design goal is to achieve >100,000 Tx/s, which is more than adequate for a wide range of applications. In the future this blockchain could be improved for broader purposes.

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     THE MINERS
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     RESOURCE MINERS
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Resource Miners contribute computing resources to the system. They might provide cloud computing resources and run as a cloud node, or contribute self-hosted computing resources.

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     COMPONENT MINERS
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Component Miners contribute software components to the system, such as new Chain Adapters, Blocklet Components, or ready-to-deploy applications. The component might be packaged code that can be reused and deployed by another application, or a set of services that’s merely exposed through the Blocklet interface. For example, a deep learning-based image recognition service may have its own services running elsewhere, but offer the services as Blocklets so that other ArcBlock applications can use them.

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     THE ARCBLOCK MARKETPLACE
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The ArcBlock Marketplace is a decentralized blockchain application built on ArcBlock platform itself. The app serves as a marketplace for listing, searching, evaluating, using, and ranking reusable components, such as Chain Adapters, Blocklets Components, and applications.