CoinInterview with the Ark Crew – 14th April 2017

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CoinInterview Summary

The interview consisted of Mike & DJ Selery (Ark Crew) and the CoinInterview team (Alex, Christian & Evan).  The link to the CoinInterview video.

The key subjects discussed were: –

DPOS

  • 1 vote per account.
  • 51 Delegates.
  • Delegates are a mix of Pool, Community and Individuals.
  • 51 active forging nodes – Get paid 2 Ark for each block forged.
  • Relay nodes will be paid a transaction fee in the future for helping to secure the blockchain.
  • Much more energy efficient than Proof of Work (POW) coins
  • 8 second blocktime

Mike summarised, “Stable and simple core that other blockchains bridge to.”

“A push button public testnet to be released in the near future”

  • Enables deployment of developers own blockchains
  • Support Academic projects
  • Internet of Things (IOT)
  • Pre-loaded payment cards.

“Lean, fast blockchain, that’s simple, the complexity is built around the edges”

What is the Smartbridge?

“Smartbridge is a way to connect a side chain or an independent chain to be able to communicate, with users and other bridged chains using the main chain of Ark.  It’s encoded listeners can listen and watch for a vendor field that has data that is intended for it.  It can also send and make a transaction to write data to that vendor field, so every bridged chain can look for data that was meant for it.  So in a way it’s sort of like Bit messaging but meant really for blockchains to send messages to each other.

What would happen in the event of a “Code Fork”?

CoinInterview asked, “How does it play out with the 51 delegates?  What happens if the delegates are split on a code change decision?”

Mike responded with: –

  • That’s why Ark has an odd number of delegates, 51.
  • A split would only really be possible if one of the forging 51 wasn’t forging.
  • A majority will outvote a minority.

To avoid code forks Mike responded with, “Developers make sure that any changes that they are proposing are agreed and bought into by the community/forging delegates.”

How does voting work with Ark?

  • “Ark is different to other DPOS blockchains, the other ones allow voters to vote for more than delegate per token.  Other DPOS tokens can be used for upto 101 votes for different delegates.”
  • “Bitshare, Crypti, Lisk and Shift all have the 101 delegate voting system.”
  • “The downside to this type of delegated system is vote swapping, they can vote for more than one and in some cases vote for each other to gain the majority voting share.”

Mike continued with, “Ark took that out and limited it to one vote per Ark!”  It avoids the formation of voting cartels and alliances.”

“With Ark to vote for more than one delegate you need to split your ark across multiple accounts.  When voters do this it also splits their voting weight.”

“The delegates offer shares in their forged rewards to encourage Ark holders to vote for them”.

Physical Ark Card

Mike confirmed, “It’s in the plans, we have spoken to a vendor who can build it for us a has quoted us a price of $300K to $500K.  If out current price holds and we continue to do well that we could move that up sooner.”

“The card itself has an NFC/wi-fi transceiver, so the cards can communicate to each other.  They store a wallet address so they can its essentially a very thin wallet, it’s more along the lines of smart phone app, but specifically designed to run on that card using its touch screen display”.

I hope you enjoyed reading, I thank you for your time!

@jamiec79 – Delegate

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