Arcblock (ABT) Price, Charts, Market Capitalization
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What is Arcblock (ABT)?
Arcblock (ABT): A Comprehensive Overview of the Blockchain Platform
Arcblock (ABT) is a decentralized, open-source blockchain platform that allows users to create and deploy decentralized applications (dApps). Launched in 2018, Arcblock’s mission is to make blockchain accessible to everyone by providing a user-friendly platform with a wide range of tools and resources.
History and Founders
Arcblock was founded by Robert Mao, a former researcher at Microsoft Research, in 2017. The platform was launched in January 2018, after a successful initial coin offering (ICO) that raised over $45 million.
The platform’s development team is made up of experienced professionals from top companies such as Microsoft, IBM, and Amazon Web Services (AWS). These experts bring a wealth of knowledge and expertise to the platform, ensuring that it remains at the forefront of blockchain innovation.
Technology and Architecture
Arcblock is designed to be a flexible, modular platform that can be customized to suit the needs of individual users and organizations. It uses a unique “blocklet” architecture that allows developers to create and deploy microservices quickly and easily.
The platform is blockchain-agnostic, meaning it can integrate with a wide range of different blockchains, including Ethereum, Bitcoin, and Hyperledger Fabric. This flexibility ensures that developers can use the platform to create dApps that are compatible with different blockchain ecosystems.
One of Arcblock’s unique features is its ability to use cloud-based resources to power blockchain applications. This allows the platform to scale quickly and efficiently, ensuring that it can handle a large number of transactions without compromising performance.
Arcblock also uses a consensus mechanism called “delegated proof of stake” (DPoS), which is designed to be more energy-efficient than traditional proof-of-work (PoW) mechanisms. DPoS allows users to “stake” their ABT tokens to become validators, who are responsible for verifying transactions on the network.
Tokenomics and Market Value
ABT is the native utility token of the Arcblock platform, used to pay for transaction fees, access platform features, and incentivize developers and validators. The total supply of ABT tokens is capped at 186 million, with around 100 million currently in circulation.
As of May 8th, 2023, the price of ABT is $0.89 USD, with a market capitalization of over $166 million USD. The token has seen significant price fluctuations in the past, reaching an all-time high of $3.80 USD in January 2018 and a low of $0.15 USD in March 2020.
Strengths and Weaknesses
Arcblock has several strengths that make it an attractive platform for developers and businesses looking to create and deploy blockchain applications. These include:
- Flexibility and modularity: Arcblock’s blocklet architecture allows developers to create and deploy microservices quickly and easily, making the platform highly customizable and adaptable.
- Scalability: Arcblock’s use of cloud-based resources allows it to scale quickly and efficiently, ensuring that it can handle a large number of transactions without compromising performance.
- Energy efficiency: Arcblock’s use of DPoS consensus mechanism is designed to be more energy-efficient than traditional PoW mechanisms.
However, there are also some weaknesses to consider, such as:
- Competition: Arcblock operates in a highly competitive market, with many other blockchain platforms offering similar features and services.
- Limited adoption: Despite its strong technology and features, Arcblock has yet to achieve widespread adoption, with many dApps still being developed on other platforms.
- Regulatory uncertainty: Like many blockchain platforms, Arcblock operates in a regulatory grey area, with uncertain and potentially restrictive regulations posing a risk to
ArcBlock’s key features include:
- Open Chain Access Protocol (OCAP): ArcBlock utilizes a unique design pattern called OCAP, which enables the platform to communicate and work with various blockchains without being limited to a specific blockchain. This means that developers can build blockchain applications on any blockchain platform and then deploy them on the ArcBlock platform.
- Blocklets: Blocklets are reusable and modular components that allow developers to build blockchain applications quickly. They are designed to be used in various types of applications and can be shared with other developers on the ArcBlock marketplace.
- Cloud-First Design: ArcBlock is designed to be cloud-first, meaning it’s designed to be deployed and run on various cloud platforms like Amazon Web Services (AWS), Google Cloud, and Microsoft Azure. This makes it easy for developers to deploy their applications on the cloud and scale them as necessary.
- Decentralized Identity (DID): ArcBlock features a DID system that allows users to own their digital identities. DID enables users to control and manage their personal data and ensures that their data is not controlled by any central authority.
- Cross-Chain Communication: ArcBlock enables cross-chain communication, allowing developers to create blockchain applications that can communicate and work with different blockchains. This makes it easy for developers to build blockchain applications that can work with various blockchain platforms.
ArcBlock’s team is composed of experienced blockchain developers, software engineers, and executives. CEO Robert Mao, for example, has over 15 years of experience in the software industry and has been involved in several successful startups.
In terms of market value, the current price of ABT is around $0.22 USD as of May 2023, with a market cap of approximately $150 million USD. While the project has had some success and has a strong team, it faces competition from other blockchain platforms that offer similar features and capabilities.
Overall, ArcBlock is an interesting project that aims to make it easy for developers to build and deploy blockchain applications. With its unique features and cloud-first design, it could prove to be a useful platform for developers looking to build blockchain-based solutions. However, as with any blockchain project, there are risks and challenges associated with it, and investors and developers should carefully evaluate the project’s potential before investing time or money into it.
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About Arcblock (ABT)
| Contract |  0xb98d4c97425d9908e66e53a6fdf673acca0be986  |
| Website | https://www.arcblock.io/en/ |
| Explorers | Etherscan,ethplorer |
| Community | Twitter Facebook |
| API idd | arcblock |
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