PROBLEMS WITH TODAY’S BLOCKCHAINS
Blockchain technology is still in its infancy. There are many issues preventing developers and businesses from creating widespread, decentralized blockchain applications.
FIVE-YEAR PLAN
2018
•Launch first decentralized apps built on ArcBlock with selected clients.
•Launch Open Chain Access Protocol and reference implementations for major blockchains (Ethereum, Hyperledger, etc.).
2019
•Public launch and popularization among the general public.
•First Developer Conference for ArcBlock developers and partners.
•Launch the support and Blocklet Building Blocks for digital media, publishing, and knowledge sharing.
•Design and implement support for IoT blockchain applications. (Support MQTT protocols and AWS IoT service. Consider supporting IOTA as a blockchain underlayer).
•Build the decentralized marketplace for ArcBlock decentralized applications and their tokens.
2020
•Public launch for IoT smart home and smart city application support.
•Contribute Open Chain Access Protocol and related technology to the open source community (through the Linux Foundation, Hyperledger Foundation, or a similar organization) to increase adoption and position ArcBlock as the de facto standard of open chain access.
•Extend cloud computing support for the ArcBlock platform, targeting support for all major cloud platforms including AWS, Windows Azure, Google Computing Engine, Aliyun, Tencent Yun, etc. ArcBlock is aiming for a cloud platform-independent, universal, and decentralized application platform.
2021
•Embrace the potential trend that blockchain protocols may be adopted at the OS (operating system) level by providing foundational OS-level support in the ArcBlock Platform.
•Build the token ecosystem and a new operating system with ArcBlock platform partners and developers for a truly decentralized, autonomous business environment.
2022
•ArcBlock becomes an open, foundational service of the new programmable society, supporting the DAO/DAC and their services/applications.
POOR PERFORMANCE
Performance is one of the main challenges facing current blockchain technology. The blockchain that Bitcoin uses is designed to handle seven transactions per second, and Ethereum can only handle a few more. As of December 2017, a simple CryptoKitties1 application can slow Ethereum and increase transaction fees dramatically. Today’s consumer applications must be able to handle tens of millions of active users on a daily basis. In addition, some applications will only become meaningful when critical mass is reached. The platform
itself must be able to handle a large number of concurrent users. A good user experience demands reliable feedback with only sub second delays. Longer delays frustrate users and make applications built on a blockchain less competitive with existing nonblockchain alternatives.
THE ARCBLOCK PLATFORM
ArcBlock solves these problems through its revolutionary new design. Unlike its predecessors, ArcBlock is a platform service, rather than a standalone software package or set of APIs. ArcBlock is a comprehensive solution that combines blockchain technology with Cloud Computing. ArcBlock is an incentive-driven marketplace for reusable services, components, and even applications. “Miners” in ArcBlock platform not only bring computing resources, more over they help to build the platform together by providing reusable components, new services, and even ready to deploy applications. People who contributed resources or services will be rewarded with tokens to form a positive, self-growing platform that continues to evolve on its own. The ArcBlock platform service isn’t our creation alone. It’s developed by the entire ArcBlock community—we’re just kick-starting a new blockchain revolution. ArcBlock’s introduction of the Open Chain Access Protocol enabled open connectivity over multiple blockchain protocols. Developers now have the freedom to evaluate blockchain protocols, and even switch back and forth between them. The Open Chain Access Protocol makes it easy to implement new blockchains as the technology evolves. It eliminates the platform lock-in issue and enables applications to run on multiple blockchain fabrics, vastly improving the developer and user experiences. Blocklet is another revolutionary component that takes advantage of the latest microservice architecture and serverless computing technology. Blocklet is a high-level application protocol that can be implemented with any platform or language. It leverages the full capacity of the native platform and offers the same level of performance, rather than running on a low-performing virtual machine.
Blocklet does more than access blockchains. It connects to any existing data source, and performs both on-chain and off-chain computing. Our unique design aims to provide a high-performance, user-friendly, cost efficient, and protocolagnostic platform. We believe that ArcBlock represents a major technological advance that will usher in the 3.0 generation of blockchain applications.
OVERVIEW
ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. The platform goes beyond providing the necessary foundational components for using blockchain to power complex business rules. It connects your existing system to blockchain networks, enabling you to automate business processes using the data and identities associated with existing systems. ArcBlock’s primary goal is to remove the barriers that have slowed blockchain adoption among the general public. We’re also passionate about developing unique approaches that will significantly advance blockchain development.
BUILT FOR THE NEW TOKEN ECONOMY
ArcBlock is a self-evolving ecosystem — not just a software platform built by one centralized organization. We at ArcBlock Foundation Limited and the ArcBlock Foundation are 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.
BLOCKLET
Blocklet is a serverless computing architecture component for running various types of applications. Use Blocklet for smart contracts, oracle, resource and asset handling, and off-chain business logic. Blocklet communicates with blockchains through ArcBlock’s Open Chain Access Protocol, and can be orchestrated with our Algorand-based consensus algorithm. Anyone can use Blocklet to build services and components and contribute them under the incentive system. Community members will receive tokens when others use their contributions.
BLOCKLET COMPONENTS
Blocklet Components are pre-built blocklets that form the foundation of the ArcBlock platform. Most of ArcBlock’s features (such as its token services, user identity services, etc.) are implemented with them. Blocklet Components are highly reusable and customizable. Incorporate our pre-built Blocklet Components into your applications to get up and running fast. We provide components for user identity management, utility tokens, wallets, messaging, notification services, and more. Use them out-of-the-box, or as customizable starting points for your own creations. Blocklet Components can also be built and contributed by the community. They are managed through the ArcBlock Marketplace app.
OPEN CHAIN ACCESS PROTOCOL
ArcBlock’s Open Chain Access Protocol enables your application to adapt to a variety of blockchain protocols including Bitcoin, Ethereum, Hyperledger, and more. The Open Chain Access Protocol will be open sourced with an MIT license so that everyone in the blockchain community will be able to 12 contribute, create extensions, and make improvements. We will develop the protocol in private mode, then open source it once we reach the release candidate milestone.
BLOCKLET COMPONENTS
Blocklet Building Blocks are pre-built blocklets that lay the foundation for the ArcBlock platform and most of its features, such as token and user identity services. Blocklet Building Blocks are highly reusable and customizable components.
THE ARCBLOCK TOKEN (ABT)
The ArcBlock Token (ABT) is native to the ArcBlock platform. To achieve high-performance transactions, we built an optimized blockchain dedicated to ArcBlock’s own token services and the public ledger. The design goal is to achieve >100,000 Tx/s, which is more than adequate for a wide range of applications. In the future this blockchain could be improved for broader purposes. The ARC is designed as a general purpose token that can be used in different scenarios. Within ArcBlock, the ABT’s basic utility value is to pay for the cost of using the ArcBlock system. Like a cloud computing service, the ABT is a utility token for paying the cost associated with using the service.
THE ARCBLOCK MARKETPLACE
The ArcBlock Marketplace is a decentralized blockchain application built on ArcBlock platform itself. The app serves as a marketplace for listing, searching, evaluating, using, and ranking reusable components, such as Chain Adapters, Blocklets Components, and applications. The marketplace is also responsible for maintaining public feedback about the quality of components and the reputation of their developers, as well as other information. This information will help users evaluate reusable components. All the marketplace information are recorded in the public ledger powered by ArcBlock’s blockchain technology to ensure transparency and the trust.
APPLICATION TOKENS
With ArcBlock, developers can also create their own custom tokens that inherit all of the features of our native token. ArcBlock makes it easy to build your own economy. Tokens aren’t just for cryptocurrencies, however. They can represent many different things, from user identities, certifications, and documents to realworld entities. ArcBlock enables you to tokenize everything in your application. In the near future, you’ll be able to make initial coin offers (ICOs) with ArcBlock’s application token once you’ve built and deployed your applications with ArcBlock.
OPTIMIZED FOR THE BEST EXPERIENCE
We built the ArcBlock platform using a “top-down” strategy 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.
ArcBlock also dramatically improves the developer experience. There’s no need to deal with lowlevel
blockchain protocols. With our mock blockchain adapters, engineers don’t even have to run local
blockchain test nodes to start developing and testing their applications.
CLIENT LIBRARY/FRAMEWORK
ArcBlock provides libraries and frameworks for client application development. These libraries
support web, iOS, and Android platforms. With the Electron Framework11, the web version can be
easily encapsulated and packaged as a desktop application for Windows and Mac OS. The version for the web is a simple communication library that works with HTTPS and WebSocket to provide a real-time and reactive user experience. It works with nearly all other web frameworks, allowing you to pick the framework you’d like to work with, such as Meteor, VUE, or React. This is an important advantage for application development. Engineers can spend most of their time handling the client side and user experiences, and write most of the code in this layer. Thanks to ArcBlock, however, now they can develop client applications the same way they build traditional, nonblockchain applications. Our design enables developers to work with their favorite frameworks and tools so they can draw upon community resources and support.
ALGORAND
ArcBlock is among the first blockchain startups to adopt Algorand12 in production. Algorand was founded by Silvio Micali, winner of the 2012 ACM Turing Award. Micali is a pioneer in cryptocurrency and blockchain technology. He was instrumental in the development of many of the building blocks of cryptography, published works on game theory and Byzantine Agreements, and even launched a micropayments startup. When Micali saw Bitcoin, he thought it could be improved; Algorand is the result of that quest.
Algorand involves suddenly and randomly selecting a small group of nodes to be in charge of the next block, then receiving a reward in the form of a percentage of the block transaction. This must be done in a way that can’t be manipulated by an adversary. No one selects the group; it’s selected by hash instead. Micali suggests taking a pseudo-random generator which is pre-specified and elongating as much as you need to select the committee. The group decides the next block via a redesigned Byzantine agreement in which a leader is picked randomly from the group.
Arcblock Token Contribution Event Bounty Program
Arcblock (ABT) is holding a Token Contribution Event between January 6, 2018 and February 3, 2018. We would like to provide our supporters an opportunity to be rewarded for generating awareness with the introduction of a bounty program. Participants in the bounty program will be rewarded with STAKES. 200000 STAKES (1% of marketing fee) allocated to the bounty program and will not exceed the cap. If the total number of stakes earned during the campaign exceeds the cap, we will adjust your stakes based on the below formula. If not, 1 stake=1 ABT.
(Bounty campaign pool / total number of stakes everyone earned during the campaign)* number of stakes you earned= Your final number of ABTs
MEET OUR TEAM
ADVISORS & INVESTORS
More information, please go to link below ….!
Website : https://arcblock.io/
Whitepaper : https://www.arcblock.io/file/whitepaper/WhitePaperEnV2_en-US.pdf?v=4
Facebook : https://www.facebook.com/arcblock.io/
Twetter : https://twitter.com/ArcBlock_io
Author : AshanAAM
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1495512