Author: Kaloyan Roussev
Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.
It is 27 August 2017 today. This review takes into consideration investing in ARK at its current price at $1.83
ARK – Utility value – provides blockchain as a service for anyone who needs it
How do I rate an investment in this project at the current price?
Although there have been very good steady gains in the past, looking at the quality of the work done, in combination with the utility value and the planned roadmap features, I don’t think I can go wrong if I invest in ARK, which I will definitely do when I get the chance. Not a high-risk, high-reward investment, probably, but a profitable one – I am almost certain of it.
Ark is a cryptocurrency on steriods. Everything about it beautiful, clean, well implemented. They have thought long and hard about how to take blockchain to the people, and make it useful, and they’ve come up with a plethora of great ideas, delivering them at a fast pace. Lots of people behind the project. Steady growth in price. They might be spreading themselves too thin, though. It is okay to do so, if you can physically deliver it, but in order to occupy a box in the human mind, one needs to stand for something concrete. They should pick a laser-focused motto to use for their marketing/communications and stick to it. It is never good to explain what you do for more than 30 seconds. Too ambitious. So many things they wanna do. If I was their marketing/branding manager or strategist I’d cut loose most of those features (especially the ones being provided by other cryptos) and just laser-focus on one or two things that only ARK does, and do it damn well, and market the heck out of it.
- Website: does it look good/presentable – it is beautiful, perfectly structured, informative and fresh.
- Website: Does it have a roadmap for the cryptocurrency development – oh yeah https://ark.io/roadmap/ I really like how they named all their roadmap milestones/features after mythological creatures/gods all starting with A. Adds to the mystery and is good for the branding of the coin. There are two more milestones on the map, and this means at least two more bullish events to look out for. They mention a gaming platform with a code name A***** I bet it’s either Arkada or Arkade 😀
- Website: Does it have a whitepaper – oh yeah https://ark.io/whitepaper/ its a textbook crypto 😀 Has a nice website, a whitepaper and a roadmap – I’m taking out my checkbook 😀 Reading the whitepaper I get a good sense of the consumer-centric and practical approach they are taking and they have a lot of stuff going on, they are not just there to exist, they are there to move things.
- Website: Is the domain name and TLD good – I guess they couldn’t cough up the money to buy from whoever holds the .com but since .io is a crypto standard, I guess I’m gonna have to be fine with it.
- Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – Might be a very fancy WordPress template, or might be a custom job. Not very good with this web stuff but the important thing is, it doesn’t look cheap
- What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for– it allows you to create a blockchain for your needs with a great ease. It also interconnects all other blockchains in a huge web. It’s kinda like a virus that spreads, but a good one. It is also one of several cryptocurrencies that offer file storage (I guess in the end it will be down to 1 or 2 that will have the significant market share – according to the laws of branding, it is always a two horse race in the long run (others being ECC, SIA, FileCoin (and maybe more))). In their whitepaper they claim to be end-user oriented. I can already imagine mass adoption and people fighting over who is gonna get to use their Practical Byzantine Fault Tolerance. I for once, always needed this. (jk)
- How does the cryptocurrency name sound (does it sound legit and like a good brand name) – I like it, it is very pretentious and sci-fi and epic. Reminds me of the Ark from The 100 series. Nice, short, easy to remember, to spell, to pronounce – all very important from branding standpoint.
- How does the logo look – it looks both like a rocket (which is crypto traders’ favorite thing cuz it goes to the moon) and Darth Vader, I mean c’mon who doesn’t like him. I hate Star Wars and even I like Darth Vader (with the mask on). So far everything seems too perfect, without a doubt all the goodness is already priced in. I need some flaws or undeveloped potential in order to know that I am buying something now, that is worth more (and the price will catch up) – so let’s keep digging
- Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – DPoS (Delegated Proof of Stake) Supposed to be a better, more fancy version of PoS with special attention toward voting. They have a moderate inflation plan with decreasing issuance of tokens.
- Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – a team of 30 people, professionals in many fields, some of them are behind the Lisk project. Reading each team member’s short summary, I am astounded at how diverse their background is. This explains the various nature of their endeavors to some extent. Upon inception, they all divided 15% of the overall token supply from the genesis block (125 million minted) among themselves. So no centralization here, this is good. https://ark.io/#team
- What is the limit on supply of coins in circulation – 130 million, good enough. I am not a fan of anything in the billions (ECC is an exception because of its ridiculously low price)
- Is there a link to the source code – https://github.com/arkecosystem
- When was the last commit made, and how frequent are commit – 2 hours ago. 22 repos, a few of them updated very recently, 16 contributors participated in one of the repos I clicked on. Heavy development – very good sign.
- How many developers participate in the coding process – 16 in one of the repositories I opened
- What the project survival relies on – looks like a pretty agile project, it is a crypto on its own so it doesnt need the Ethereum network. Doesn’t seem to be involved in anything cheeky, so legality issues might not be a first-hand concern.
Exchanges and trading
- Which exchanges (and how reputable they are) is the coin traded on, what is the daily trading volume and market cap we have Bittrex – it is what most cryptos dream of. And some other exchanges as well (two of them I’d never heard of so far) and Cryptopia, which is alright I guess. Better than liqui or hitbtc for sure. Daily trading volume of $1.5 million. Market cap $163 million.
- Are there buy (support) or sell (resistance) walls – some support at 30 000 satoshi (30+ bitcoin) but at 360 BTC daily volume at bittrex it wouldn’t be easy to eat through. Small resistence at 50 000 satoshi (11 btc) and 65000 (27 btc) nothing out of the ordinary. I wish there was a better way to visualize the market depth at Bittrex other than reading the order book and imagining it.
- How does the chart look – steady rise with 3 surges (possibly roadmap milestones reached?)
- Does the chart contain patterns that look like pump and dump actions or trading by bots – a small pump at 15 August. Might have been a PnD group or something.
- Has the coin spiked on one exchange after being added on another exchange – N/A
- Is there a Bitcointalk forum Announcement thread – Yes https://bitcointalk.org/index.php?topic=1649695.0
- How many pages is it – a monstrosity of a thread – close to 500 pages since October
- History of the coin according to the forum and general public impression of the coin throughout – Unfortunately I can’t afford to read the whole thing, so as with IOTA, I am going to read each 50th page. Almost everyone is being very positive about the project on this thread.
- Do they have a blog, anything interesting on it? – https://blog.ark.io/ news every 3-4 days. Mobile wallets release and setting up a legal entity in France is expected soon, from what I gather.
- Is there a slack channel – https://ark.io/join-ark-slack/
- How many members in the slack channel – 5000+
- What is the public sentiment in the slack channel – random chit-chat, currently about something called Mayweather
- Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers https://twitter.com/ArkEcosystem 10k followers. Tweets news several times per week
- Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – https://www.facebook.com/ArkEcosystem/ 4k likes. Much more active (and with an obviously bigger following) than other cryptos on FB.
- Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – not that I am aware of
- Is there an active development for fixes on the way – active development on all ARK aspects is currently ongoing
- Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – no.
Popularity and perception
- What does a quick google search tell us about the coin – the usual links that one finds when looking for a particular crypto and some generic articles about ARK. Nothing bullish, bearish or extraordinary
- Are there youtube videos about the coin – lots of videos, half of them explaining what Ark does/is and the other half are analysis from traders, overwhelmingly positive
- What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – optimism, “long-term hold”, frustration caused by inability to understand all the features, one person saying it is too ambitious and they can’t pull it off.
- Is the coin associated with illegal/criminal activity or the dark web – no
- Similar cryptocurrencies/projects – Lisk
I am sure I might’ve made some mistakes in this post or in my research. Please, forgive me, if I have, and contact me to tell me where I went wrong. It takes about 4-5 hours of my time to do a full research on a cryptocurrency, and I try to do at least 4 per week.
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