ARK: worth more than Hive?
With the Hive price continuing to flounder, I'm starting to wonder if I'm missing something in terms of other cryptos that are maybe worth more, so I thought I'd take a look at some of the other alt coins which are sitting alongside Hive in terms of market cap to see what they've got to offer in comparison.
I'm mainly interested in utility value - what you can currently, mainly currently, but also potentially DO with the token/ on the chain.
At time of writing Hive was sitting 178th in terms of market cap, and the coin right above it was ARK, ranked 177th with a value of $53M ($0.41 and a supply of 130M).
(Of course by the time this publishes these rankings may well have changed!).
What is 'ARK'? (ark.io)
It's a unique delegated proof of stake blockchain, and (ironically/ fatedly?) it's not that dissimilar to Hive.
Ark's main focus is 'blockchain interoperability', and apparently one of the project's strap-lines is that 'Ark has no competitors, only potential partners.
More specifically, the project seems have three main aims:
- Acting as a bridge between blockchains
- Issuing smart contracts and
- Enabling new users to deploy their own, new blockchains at the push of a button.
Planned developments
Besides a desktop and mobile wallet you can download, it doesn't appear that you can do anything with ARK ATM - there are only two maybe soon to be functional applications linked on its main .io site - Marketsquare, which seems to be a website where you can access various different applications from blockchain partners, most of which are Hive based, and 'deployer.io' which allows you to 'deploy a blockchain', but both are mooted for Q1 2021.
However, so far there is zero functionality.....
Partnerships, Partnerships and more Partnerships and Arks' Partnership with Hive
A lot of recent news is about 'Partnerships' - many of which seem to be with Hive - they had a stint at the recent virtual Hive Fest that many of us couldn't access.
.
TBH I'm not sure what being in partnership with ARK really means, I'm not exactly sure, other than seeing Hive projects being publicised on Ark websites, which I guess can't be a bad thing!
However, there doesn't seem to be much else going for the blockchain at this point!
The Ark Community
Supposedly it's quite strong - they do have 60K odd followers on Twitter, which isn't bad for a project which isn't even functional yet!
Ark - Worth more than Hive?
The Ark project seems to be more ambitious than Hive - linking blockchains, Smart Contracts and allowing people to deploy their own blockchains - I mean if they get it right it could be a competitor for ETH.
The problem is that nothing besides the wallet is working yet, and a lot of recent promotion is just about partnerships with other working projects such as Hive.
Personally ATM I don't understand why this is valued anywhere close to Hive which already has many functional dapps working it.
However if Ark does see successful development this could potentially benefit Hive as it would give it more publicity and make its dapps more accessible, there is overlap between the two chains.
**Find out more... **
Hackernoon: Why Ark Deserves Your Attention
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There is so many coins doing nothing, pure speculations only, HIVE actually should have much more value as it's a community project engaging in many more ways other then just speculation
I agree for sure!
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@revisesociology, Sometimes project shows potential but practical progress lacks. Let's hope that this project will do good because every successful project in this space will going to add value to whole space. Stay blessed.
Hive need a few prominent leaders to market it like Leofinance is doing.... We shoukd start marketing it as a social media and peakd/ecency looks like to take lead as they are more developed UIs on Hive. If these apps start marketing about their use case and benefits, people will start joining them ultimately they are on hive. There is already discussion going in world towards censorship and centeralization, we can take some advantage and promote ourselves better their. We need to market apps.
Regards
I agree we do need more coherent marketing and to pay people for it too.
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Started at 2017 and still not having functional product as such is the issue with ARK.
Since ICO price is around 1200 Satoshi, so may be user just hanging there in some hoppes.
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Yes that might well be it! There does seem to have been very little accomplished since 2017.
Most of the recent news is about partnerships!
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I've made it a rule for me to only interact with tokens/chains that I personally understand the value off.
These are BTC and ETH simply as the obvious way of profiting from blockchain developement and Hive/LEO for the myriad of dAPPs I interact with. Just recently WAX joined the list as well because of how uniquely focused they are on NFTs.
Everything else I just accumulate passively and see if anything moons eventually.
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I think you've got a sound strategy, I do much the same, but i've got some RUNE, AVA and BAT too, also a fair bit of litecoin - the poor man's Bitcoin.
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It is crazy you should mention Ark Karl as it was the first altcoin I ever bough back in early 2017. It was also the subject of my first steem post which was a real shitpost if I'm honest.
The complete post read:
😂
To be fair I had 10x my initial investment on that coin and was shilling ark despite having got rid of 50% of my bag at that point in sept 2017 😂 If I remember right I sold the rest around $3.
All I can really say is that ark had nothing but a wallet then, and it has nothing but a wallet now. I don't think we're ever gonna see those $4.50 days for ark. But, speculation can make crazy things happen.
Well 10 times is pretty good, I think you did well taking it when you did, it does seem that little has been done since then!
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Yeah, I did good on that coin both in avoiding fomo and timing my sells. It was a rare win 😂
Excellent article! We should have one for the next 50 crypots over HIVE in maketcap. If you don’t mind, I would send out a Call for Content to potential Guest-authors for the spinvest-leo account to cover a cryptocurrency listed over hive and do an introduction like you did here for Arc. That would be a good promotion for HIVE as well as increase the knowledge of projects out there. I think it is really a great way to explain it in comparison to HIVE.
Be my guest, I'm going to carry on plugging away at a few myself anyway!
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