Cryptocurrency attracted a lot of investors last year. However the blockchain is still new technology with many problems with stops many businesses and developers from using it.
Slow and expensive: One of the primary objects of blockchain is for it to be fast and cheap. However during the past year with many more users beggining to use blockchain even the most popular platforms have become unusable at times. Bitcoin's fees have gone up to as high as $30 per transaction making it useless for any low-medium value purchases. Ethereum also faces problems any time there's a hyped ICO released or a new game on the platform.
Too complicated: Most blockchain projects are developed by skilled developers, to them it may seem simple to use these apps, however for the general public this is far from the case.
Too few features: With the cryptocurrency market attracting so much attention users have a high expectation. However when they begin to use the apps they quickly find out that they tend to be fairly basic. The new games being released are a perfect example, most of them look like they were designed in 1999.
The new project hopes to solve many of these problems. Their new platform will be a full service combining blockchain technology with cloud computing.
The new platform will offer incentives to miners on their platform, not only will they be rewarded for providing computing power, they'll also be able to receive rewards for helping to build the platform.
Blocklet: This will be a new application protocol that can be implemented with different platforms and languages. It will be able to connect to any data source and perform on and off chain computing.
The new ABT token will be used on the platform and run on it's own blockchain. The goal for the blockchain is for it to be able to process an impressive 100,000 transactions per second, this is compared to Bitcoin which can only process 7 per second. This will allow the new blockchain to be able to have many apps running on it.
The main purpose of the token is for it to be the utility token that is used on the platform. However it can also be used for any transactions made outside of the platform.
Decentralized app platforms have done very well so far this year. This one seems to offer many advantages over their competitors. If they can meet their goal of having a blockchain capable of processing 100k transactions per second then they'll also have one of the strongest blockchains in the crypto world.
The team behind the platform also looks strong with a lot of experience. It may be hard to purchase tokens during this ICO with so much interest already.
Check out further details in their whitepaper and website:
Whitepaper:https://www.arcblock.io/file/whitepaper/WhitePaperEnV2_en-US.pdf?v=4
Website: https://www.arcblock.io
