Ark cryptocurrency on the rise, up 122% in a week; here’s why

October 31, 2023 09:04 PM AEDT | By Invezz

Ark cryptocurrency on the rise, up 122% in a week; here’s why — Image source: Invezz

What is Ark cryptocurrency?

Ark is a blockchain-based development platform that offers a unique approach to creating customizable and interoperable blockchains.

Founded in 2016, Ark’s mission is to simplify blockchain technology and enable users to build their own blockchains with custom transactions, all without the need for smart contracts. Its innovative design and features have set it apart from many other blockchain projects.

Recent price movement

The most eye-catching aspect of Ark’s recent performance is its remarkable price movement. In just a week, the value of the Ark token has surged by 122%, reaching above the price of $1.01 USD.

This surge is a significant development for the Ark community and investors. The price has been highly volatile, with an all-time high of $10.91 USD in 2018 and a low of $0.03014 USD in 2017, showing the roller-coaster nature of the cryptocurrency market. However, the question in the minds of most crypto traders and investors is why the price of Ark token is rising this time round after the September surge that was occasioned by the launch of Ark Perpetual Futures by two major cryptocurrency exchanges.

Ark’s redesigned codebase Mainsail

The main driving force behind Ark’s recent price surge is the development of their redesigned and renamed codebase, Mainsail. This new codebase marks a significant milestone for the Ark project.

The team has been diligently working on Mainsail, and the recent progress report issued on October 27 indicates that they have made substantial headway.

Mainsail promises to take Ark to new heights. It’s a complete overhaul of the core codebase, designed to make blockchain development more accessible and user-friendly. With dynamic features like adjustable validator sizes and improvements in database configuration, Mainsail is set to transform the Ark ecosystem. The redesign is a step towards greater efficiency and performance.

As the development team continues to work on Mainsail, the Ark community eagerly anticipates the positive impact this codebase will have on the project. The surge in the price of Ark cryptocurrency is a clear indicator of the market’s confidence in this development.

The post Ark cryptocurrency on the rise, up 122% in a week; here’s why appeared first on Invezz

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