One major future use-case of SmartBridge and interconnected blockchains will be the ability for a decentralized exchange in a trustless environment.
September 11, 2017
The team behind the ARK Blockchain Ecosystem has hit another major milestone, marking the first Delegated-Proof-of-Stake (DPoS) token to be integrated into a cryptocurrency hardware wallet. This addition of the ARK token to Ledger hardware wallets is one of many accomplishments, and is a major step toward solidifying the ARK Ecosystem as a market leader in the space.
Hardware wallets are an additional level of security for cryptocurrencies, like bitcoin. These physical devices can store your cryptocurrency offline and securely. In addition to being able to secure the ARK token within the Ledger hardware wallet, users can also utilize the Ledger Nano S to cast votes within the ARK DPoS governance system.
Unlike Bitcoin, in ARK’s DPoS hybrid blockchain, it isn’t the largest mining power that determines who creates blocks and validates transactions, but instead, it is the token holders who cast votes for which node operators should be responsible for securing the blockchain.
Now that the Ledger Nano S is directly compatible with the ARK desktop wallet, users no longer need to enter their 12 to 24 word passphrases. Instead, they can use their Ledger hardware wallets as a means of authentication for casting votes or signing transactions, all without the need to re-enter a passphrase, making ARK more streamlined and easier to use.
ARK and Ledger are also offering limited edition ARK branded Ledger Nano S devices which can be found at https://shop.ark.io. Only 1000 units will ever be made.
ARK is a relatively new technology, but is quickly becoming one of the most trusted names in the industry. It continues to move forward with a strong development team and several major new features.
The ARK team recently sponsored the Fintech Week conference in New York. In addition to the Ledger partnership, they unveiled several key pieces of their roadmap for their complete ecosystem. This includes ArkVM (ARK Virtual Machine), and a community project known as ACES (ARK Contract Execution Services), which demonstrates the first application of the ARK SmartBridge between the ARK and Ethereum blockchains.