ArcBlock is poised to become the next generation blockchain. It is a revolutionary cloud-based ecosystem for creating decentralized applications that aims to solve current issues with blockchain technology, which includes: poor performance, high cost, complexity and lack of simplicity.
ArcBlock also uses a ground-breaking Open Chain Access Protocol that enables connectivity over multiple blockchains, meaning your applications can work on different blockchains.
Watch my video introduction on ArcBlock below:
What is the next generation blockchain?
The next generation blockchain is the Blockchain 3.0.
Bitcoin is blockchain 1.0 comprising mainly simple ledgers that records transactions. It can process about 7 transactions per second (TPS). Ethereum pioneered the blockchain 2.0, which in addition to recording transaction, uses smart contracts — that is self-executing contractual agreements, stored on the blockchain, which nobody controls and therefore everyone can trust, and currently supports around 15 TPS.
But the Blockchain 3.0 led by ArcBlock is revolutionary. It has all features of blockchain 1.0 & 2.0, plus it is cloud based, adopts open chain access which allows applications to run on multiple blockchains at the same time, can support thousands and millions of transactions per second and highly scalable, and thus, its is the blockchain for massive mainstream adoption.
Benefits Of Arcblock over other blockchains?
ArcBlock solves the problems with today’s blockchains:
ArcBlock will solve the problems of existing blockchains, such as: poor performance which has affected the abilities of these blockchains to support large transactions resulting in slow network speeds and high transaction fees. Also, today’s blockchain applications are built for the few tech whizzes who know how to use them, rather than mainstream consumers. This issue is addressed by ArcBlock’s proprietary design that aims to provide a high-performance, user-friendly, cost efficient, and open chain access protocol system that allows connectivity with multiple blockchains.
ArcBlock is designed to run natively in the cloud. It can also run on a single computer for testing and development. This design principle makes ArcBlock fundamentally different from many other platforms in the blockchain world. Cloud based means the applications, services or resources on ArcBlock will be made available to users on demand via the Internet from a cloud computing provider’s servers. It must not be run on a single computer, and yet it be will secured with stringent parameters to ensure safety of users’ activities on the chain. Using the cloud node won’t compromise the decentralization and security of the system. It will rather take decentralization and security to the next level — on the cloud. Interesting, I must say!
Created for the new crypto economy
ArcBlock is a self-evolving ecosystem — not just a software platform built by one centralized organization. This means that ArcBlock as an organization is only jump starting the project; the platform will continue to develop and grow on its own. The entire ArcBlock service is driven by the token economy. Rather than a basic service platform. ArcBlock is an economy driven by incentives that encourage the blockchain community to work together to build a better ecosystem.
Enhanced for best user experience
The ArcBlock platform is built with a philosophy that centers on the user experience. In contrast, many existing solutions focus on the blockchain technology itself at the expense of user friendliness. Applications built with ArcBlock offer reactive, real-time experiences. Users can simply access them from a web browser (no additional plugins required), or download a mobile app directly from an app store. Either way, the process is familiar. Also, ArcBlock aims to improve the developer experience.
Uses Open Chain Access Protocol that works with multiple blockchains
The ArcBlock’s Open Chain Access Protocol enables application to work on different blockchains. There’s no need to try to adopt business logic to work with multiple chain technologies. ArcBlock’s inbuilt Chain Adapters that are built by the community and encouraged by the incentive mechanism, will enable ArcBlock to support many blockchain protocols.
Open source and open standard
ArcBlock is built with an open standard and open source philosophy. This means that its continuous development is driven by the community via an incentive system, not just a central development office. It is built for the application developer’s wants and needs. The ArcBlock’s team members are actively involved with a range of standards organizations, non-profit foundations, and committees. These currently include the W3C Blockchain Community Group Community Group, IEEE Standard Association’s Blockchain Community, Enterprise Ethereum Alliance, Linux Foundation, and Hyperledger Foundation, and many more to come in the future.