A blockchain network is preparing for the imminent hard fork to the second version of its core system on 28 Nov - with users set to benefit from flexible transaction fees and the ability to develop their own plugins with ease.
ARK has been preparing Core V2 of its platform for some time, and has stressed that its community will not be affected by the hard fork as long as they update their desktop or mobile wallets to the latest version.
Forking out for feesThe team says one of the most exciting developments from the upgrade is its Dynamic Fees system, which enables ARK users to outline the maximum fee they are prepared to pay in order for their transaction to be completed.
ARK wants to create a marketplace for transaction fees - offering flexibility to people who are prepared to wait a little longer for funds to clear in order to keep their costs down.
There is a cap in the wallets on how high fees can go - meaning users who need their funds urgently won't be facing exorbitant fees.
ARK hopes to ensure that this system is achieved "Without detracting from or confusing the seamless user experience" - and to keep its community informed, an advanced option is being made available where users can see the lowest and highest transaction fees paid over the past 30 days, in addition to the average.
Brand-new featuresOnce the hard fork has been completed to Core V2, ARK says its platform will be able to handle three times more transactions per second.
The new core is also going to help the platform build upon its goal of becoming the "WordPress of blockchains." Improvements have been made to simplify the process of developing plugins that leverage the power of blockchain - and according to ARK, it only takes users a few lines of code to remove or add plugins to the system.
As previously reported by Cointelegraph, ARK says it aims to create accessible tools which enhance understanding about blockchain technology and its potential.
An e-commerce plugin called ARK Pay is also being released soon, and this will make it simple for websites to accept ARK as a payment method.
Blockchain Network's Hard Fork to Triple TPS and Give Users Flexible Transaction Fees
Published on Nov 19, 2018
by Cointele | Published on Coinage
The five most important dates for Bitcoin until 2020
From the resolution of the New York Attorney General's injunction against Bitfinex and Tether to the final decisions of the long-awaited cryptocurrency ETFs, here's a list of some of the most relevant dates in the crypto industry to keep an eye on.
Crypto and Security Token Exchange INX to Raise $130 Million in Landmark IPO
INX Limited, a crypto exchange startup, plans to raise up to $129.5 million through an IPO, in the first security token sale registered with the U.S. Securities and Exchange Commission.
Judge Rejects Multimillion Dollar Asset Plea in Crypto Fraud Case
A Supreme Court judge in British Columbia, Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case.
Israeli Regulator to Fast Track 2,000 Fintech License Applications
Israel's Fintech regulator is rearranging its licensing regime to encourage competition in the field.