ArcBlock

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Discover ArcBlock's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is ArcBlock?

ArcBlock (ABT) is a blockchain 3.0 platform that simplifies decentralized application (dApp) and blockchain development. It provides foundational components, such as flexible SDKs and developer tools, to build and deploy dApps and custom blockchains. The platform aims to remove barriers to blockchain adoption by making development faster and easier, and finished products more usable by the general public and businesses.

How is ArcBlock used?

ArcBlock (ABT) is a blockchain 3.0 platform designed to simplify decentralized application (dApp) and blockchain development. It provides foundational components such as flexible SDKs, code packages, developer tools, and services to make development faster and easier. The platform allows developers to create enterprise-level dApps and custom blockchains based on complex business rules and connect to any blockchain to achieve the desired results.

Key Features
  • Blocklets: These are reusable and customizable microservices that use server-less architecture to build services and applications. They can be used for smart contracts, resource handling, off-chain business logic, and more.
  • Abstract Layer: This is an open chain access protocol that enables layers for access on different blockchain networks, allowing for efficient usage and better data access.
  • Pub/Sub API Gateway and Chain Adapters: These components facilitate connections between user applications and the blockchain network, enabling high transaction speeds of approximately 100,000 transactions per second.
Use Cases
  • Decentralized Applications: ArcBlock is suitable for building and customizing dApps on blockchain networks, utilizing cloud computing and a decentralized network of nodes.
  • Data Processing and Storage: Users can use logical or virtual machines instead of physical hardware to process data, and the platform allows mining with incentives in the form of smart contract-issued ABT token rewards.
  • Blockchain Development: ArcBlock aims to make blockchain development more accessible and user-friendly, allowing developers to focus on writing code rather than building the underlying infrastructure.
ABT Token
  • Token Details: The ABT token is an ERC-20 token based on the Ethereum blockchain, with a total supply of 186,000,000 and a current circulating supply of around 98.5 million.
  • Token Usage: The ABT token can be used to pay for services on the platform and participate in governance.

How do I store ArcBlock?

To store ArcBlock (ABT) tokens, you can use various wallets that support ERC-20 tokens. Here are some options:

  • MetaMask: MetaMask supports ArcBlock, allowing you to manage your ABT funds directly within your web browser.
  • MyEtherWallet: As an ERC-20 token, ABT can be stored in MyEtherWallet.
  • ArcBlock's Official Wallet: The ArcBlock team has released its own ABT wallet, which includes a decentralized identity solution.
  • Hardware Wallets: For the safest offline storage, consider using hardware wallets, which keep your private keys in a "cold storage" environment.
  • Other Wallets: Additional options include Trust Wallet, Ledger, imToken, Torus, Coinbase, TokenPocket, and iToken Wallet.

How to buy ArcBlock?

To buy ArcBlock (ABT) tokens, you can follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports ArcBlock (ABT) purchases. Consider factors such as ease of use, fee structure, and supported payment methods.
    • Create an account on the chosen exchange, set a secure password, and enable two-factor authentication (2FA) for added security.
    • Complete Know-Your-Customer (KYC) verification to access more features and services on the platform.
    • Add a payment method, such as a credit/debit card or bank account, following the exchange's instructions.
  2. Buy ArcBlock (ABT):

    • Use fiat currency to buy ArcBlock (ABT) if supported by the exchange. Alternatively, you can first purchase a popular cryptocurrency like USDT and then exchange it for ArcBlock (ABT).
  3. Alternative Method: Decentralized Exchange (DEX):

  • Download a crypto wallet like Trust Wallet and set it up.
  • Buy Ethereum (ETH) as your base currency on a centralized exchange like Binance.
  • Send the ETH from Binance to your crypto wallet.
  • Connect your wallet to a DEX like 1inch and swap your ETH for ArcBlock (ABT).
  1. Other Exchanges:
    • You can also find ArcBlock listed on other exchanges like Coinbase, gate.io, Bitvavo, Bitget, and Cofinex, where you can buy, sell, and trade ABT for other cryptocurrencies and fiat currencies.

Remember to research and compare fees, security, and user experience before choosing an exchange or method to buy ArcBlock (ABT) tokens.

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History of ArcBlock

ArcBlock, a blockchain ecosystem for building and deploying decentralized applications, was founded in early 2018. The ideas behind the platform and ecosystem, however, date back much earlier than its official founding.

ArcBlock conducted its token sale from January 1, 1970, to February 12, 2018. During this sale, the price of ABT was $0.50 per token. Compared to its initial token sale price, ABT has shown a return on investment (ROI) of 6.80%.

The price history of ArcBlock has been erratic, with significant highs and lows. As of May 2024, ABT reached an all-time high (ATH) of $4.72. The current price of ABT is $4.02, with a change of -4.63% in the last 24 hours. The price is predicted to decrease by -6.91% by the end of 2024.

In a recent update, the price of ArcBlock has risen by 23.96% in the past 7 days, with a 5.63% increase in the last 24 hours and a 1.05% growth in the past hour. The current price is $0.25 per ABT, which is 85.08% below the all-time high of $1.66. The circulating supply of ABT is 98,554,305.44 tokens.

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How ArcBlock works

ArcBlock (ABT) is a blockchain 3.0 platform designed to simplify the development and deployment of decentralized applications (dApps) and custom blockchains. It aims to remove barriers to blockchain adoption by making development faster and easier, and by creating more user-friendly products for both the general public and businesses.

Key Components
  1. Blocklet:

    • A server-less architecture component that allows for the creation of reusable and customizable services and applications.
    • Enables the use of any language, providing flexibility and the ability to leverage native platform capabilities.
    • Used for developing smart contracts, resources, asset handling, and off-chain business logic.
  2. Staking and Slashing:

    • Users can stake a small amount of ABT to gain gas-free privileges.
    • Applications can also stake ABT to provide gas-free services.
  3. Cloud Computing Integration:

  • Combines blockchain technology with cloud computing to enhance scalability and performance.
  • Allows for both on-chain and off-chain computations, making the platform more cost-efficient and user-friendly.
Technical Overview

ArcBlock is an incentive-driven marketplace that leverages blockchain technology and cloud computing. It is designed to be protocol-agnostic, allowing for the development of any blockchain 3.0 dApps. The platform provides foundational components such as flexible SDKs, code packages, developer tools, and services to facilitate easy development and deployment of blockchain applications.

Token (ABT)
  • ERC-20 Token:

    • Based on the Ethereum blockchain.
    • Total supply: 186,000,000 ABT.
    • Current circulating supply: Over 98.5 million ABT.
  • Utility:

    • The ABT token is used to pay for the costs associated with using the ArcBlock system.
    • Provides gas-free privileges for users and applications that stake ABT.
Development and Roadmap
  • Initial Coin Offering (ICO):

    • Held in February 2018, raising $45 million.
    • Token price initially doubled but later declined, reaching an all-time low in January 2019.
    • Price has since recovered and fluctuated.
  • Roadmap:

    • The platform continues to evolve, with recent milestones including the release of ABT Node, which combines cloud computing and decentralized blockchains.
    • The roadmap outlines plans for further development and adoption.
Team and Leadership
  • Founder and CEO:

    • Robert Mao, a veteran software engineer, aims to build the "Amazon Web Services of the blockchain age."
    • He believes blockchain technology has significant potential but is currently in a technological purgatory.
  • Other Key Team Members:

    • Tyr Chen (Vice President of Engineering)
    • Jean Chen (Vice President of Public Relations)
    • Matt McKinney (Marketing & BD Director)
Market and Adoption
  • Exchanges:

    • ABT trades on several exchanges, with the top trade volume coming from OKEx.
  • Market Cap:

    • Despite recent price increases, the market cap remains relatively low, indicating potential for growth.
  • Adoption:

  • ArcBlock is working to increase adoption by making blockchain development more accessible and user-friendly.

  • The platform's unique approach and technology have the potential to drive significant growth and adoption in the future.

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ArcBlock's strengths

ArcBlock (ABT) has several strengths that make it an attractive platform for building and deploying decentralized applications (dApps). Some of its key strengths include:

  • Abstract Layer: ArcBlock's open chain access protocol, known as the Abstract Layer, allows for seamless access to different blockchain networks, making it a versatile platform for developers.
  • Blocklets: ArcBlock's microservice applications, called Blocklets, enable systematic adjustments without relying on central servers, leading to more efficient usage and better access to data and on-chain or off-chain transactions.
  • High Transaction Capacity: ArcBlock's design allows for approximately 100,000 transactions per second, making it a scalable solution for high-volume applications.
  • Decentralized Identity Solution: ArcBlock's wallet includes a decentralized identity solution, allowing users to take back control of their digital identity.
  • Simplified Development: ArcBlock aims to simplify the process of dApp and blockchain development by providing foundational components such as flexible SDKs, code packages, developer tools, and services, making it easier for developers to build and deploy applications.
  • Enterprise-Level dApps: ArcBlock enables the creation of enterprise-level dApps and custom blockchains based on complex business rules, making it suitable for large-scale applications.

These strengths position ArcBlock as a robust platform for developers and businesses looking to leverage blockchain technology.

ArcBlock's risks

ArcBlock (ABT) carries several risks that investors should be aware of:

  1. High Risk Rating: According to InvestorsObserver, ArcBlock has received a high risk rating due to the potential for limited trading activity to significantly impact its price. This is based on the proprietary scoring system that analyzes changes in volume and market capitalization over the past 24 hours.

  2. Moderate Risk Assessment: In a more recent analysis, InvestorsObserver gave ArcBlock a medium risk assessment, indicating that it is a relatively moderate risk investment. This assessment is based on the amount of money required to move the price over the past 24 hours, considering changes in volume and market capitalization.

  3. Price Volatility: ArcBlock's price has been highly volatile in the past. After its ICO in 2018, the token price more than doubled but then fell significantly. It reached an all-time high of $1.66 in May 2018 but later dropped to an all-time low of $0.054302 in January 2019. This volatility can make it difficult for investors to predict future price movements.

  1. Staking and Slashing Risks: ArcBlock's staking mechanism carries the risk of slashing, where users can lose part or all of their staked assets if they do not follow the protocol's rules. This risk is often overlooked by users who focus solely on the benefits of staking.

  2. High-Risk Play: Some analysts consider ArcBlock a high-risk play due to its proof-of-stake cryptocurrency nature and poor track record. While it has the potential for significant upside, investors must acknowledge these risks before investing.

Overall, ArcBlock's risks are multifaceted and should be carefully considered by investors before making a decision.

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Did ArcBlock raise funds?

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ArcBlock’s team

  • Robert Mao: Founder, Chief Architect, and CEO of ArcBlock. He is a veteran software engineer and entrepreneur with over 20 years of experience, including time at Microsoft. He is also a member of the Forbes Technology Council.
  • Tyr Chen: Vice President of Engineering, overseeing software engineering for ArcBlock. He has over 10 years of experience in software engineering, having worked at firms like Juniper Networks and Tubi TV.
  • Jean Chen: Vice President of Public Relations, handling marketing and branding for ArcBlock. He has a background in journalism, having spent 14 years as a reporter in Shanghai, and later transitioned into marketing roles.
  • Matt McKinney: Marketing & BD Director, responsible for marketing and business development at ArcBlock.

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