Last month we announced a strategic partnership with Blockport and in this article we are going to explain some of the details.
Together with our partner Blockport, we have discussed many possibilities and have identified multiple opportunities that will benefit both projects in the short and long term.
As most of you know, Blockport will have a hybrid-decentralized architecture that allows for decentralized storage of funds on multiple blockchains. To provide different wallets access to the Blockport platform, they will need efficient protocols that allow them to listen to and transfer value between chains.
Together with our community, ARK has developed the ACES project, which connects multiple blockchains and allows for value transfers between them. Therefore, Blockport will explore the possibilities of integrating our service with theirs.
Feasibility of ACES for Blockport
The Ark Contract Execution Services (ACES) project provides them with the ability to react to transactions on a variety of blockchains by exposing an API that allows them to efficiently listen to (transaction) events.
This architecture enables them to set up transfers of value between blockchains by implementing handlers to these events. It also allows for a rather flexible integration in terms of exchange rates and interoperability between services, meaning that Blockport can adopt ACES inside of the exchange infrastructure that they are currently realising without heavy changes to their architecture.
The current state
ACES currently has a working proof of concept that they can use to further investigate their implementation of the hybrid-decentralized exchange scheduled for Q4 2018 / Q1 2019. Our partnership enables us to work together efficiently and allows for a synergy that both projects can benefit from.
A solution to a complex problem like cross chain transactions is very challenging and will require lenghty prototyping and stress testing. We believe ACES could provide them with the necessary framework needed to further develop their core product.
Listing and integration
As mentioned above, both projects will closely work together on cross chain transactions. Therefore, in line with our partnership, we want to share the exciting news that ARK will be listed as one of the first coins on the Blockport platform in Q2 2018!
Listing ARK will provide both communities with the opportunity to trade ARK against EUR pairs in the near future and you will also be able to buy ARK with EUR directly within Ark Desktop Wallet!
Additionally, with the release of ARK mobile wallet, ARK is now focusing on wallet integrations that will allow users to trade ARK directly from the wallet. As partners, we will collectively build an exchange integration for the ARK wallet. This will mean that all ARK trades that are performed within the wallet are being settled by the Blockport platform.
The ARK wallet integration is scheduled for Q3 2018, and over the upcoming year, ARK and Blockport will be working in synergy on multiple technical integrations.
We believe that both ARK and Blockport together with their communities will strengthen each other in the quest for mass adoption of blockchain technologies and cryptocurrencies.