What is Arcblock (ABT)?
Arcblock is an ecosystem for building and deploying decentralized applications. Though it also provides tools that connect existing businesses to blockchain networks. This helps businesses automate their processes faster, using the current data they have.
The platform combines blockchain technology with cloud computing, rather than providing a standalone software package or just a set of APIs. It is also an incentive-driven marketplace for reusable components, services, and applications.
The Arcblock ecosystem is comprised of miners who, in addition to providing computing resources, help build the ecosystem by providing reusable components, new services, and ready-to-deploy applications. These miners are rewarded for their services in ABT tokens – the platform’s native utility token.
Miners on the platform are divided into two - resource miners and component miners. Resource miners provide computing resources to the service, such as cloud nodes and self-hosted computing resources. Component miners, on the other hand, contribute new software components to the system, such as Blocklet components, ready-to-deploy apps, and new chain adapters.
If you are interested in becoming a miner and would like to know how valuable these rewards could be, you can check the current ABT price on the Arcblock price chart featured above.
The Blocklet component allows builders in the ecosystem to take advantage of the latest microservice architectures and serverless computing technology. It is a high-level application protocol that can be implemented without any platform or programming language. Asides from accessing blockchains, Blocklet performs on-chain and off-chain computing. Besides, it can connect to any existing data source.
Use Cases of ABT Tokens
Firstly, the ABT token is used within the Arcblock ecosystem as the basic mode of payment.
Moreover, ABT coins must be staked by developers when they need to provide critical services.
Furthermore, the ABT token is also used in the Arcblock marketplace. The marketplace serves as a hub for listing, searching, evaluating, ranking, and using reusable components.
Lastly, as mentioned before, ABT tokens are used to reward Arcblock miners.
Planning to acquire Arcblock coins? Before doing that, make sure to check the Arcblock price chart. Knowing the main trends in the ABT price changes will help you make better purchasing decisions.
Who Founded Arcblock?
Arcblock was founded by Robert Mao in 2017. The team also comprises Flavien Charlon, Ximen Liu Shang, and Violin Wang. Together they have dedicated their time, knowledge, and experience to create and improve the ArcBlock ecosystem.
ABT Tokenomics
There are 186 million ABT tokens available as a maximum supply. The allocations of these tokens within the ecosystem have not been made public, but it is expected that a portion of these tokens is reserved as mining rewards for miners contributing to the ecosystem.
