CHICAGO, Jan. 12, 2018 /PRNewswire/ — Robert Mao, former researcher with Microsoft Research, serial entrepreneur, and technology innovator, together with Flavien Charlon, the creator of Colored Coins, Open Assets Protocol, and Openchain, today announced the launch of ArcBlock, the world’s first blockchain ecosystem for building and deploying decentralized applications. ArcBlock is aiming to seamlessly connect between the existing system and services, and blockchain networks, throughout dynamic industries.
Looking back on 2017, Bitcoin and the ICO (Initial Coin Offering), which have been considered as “killer applications” separately in both Blockchain 1.0 as well as Blockchain 2.0 generations, have ushered in explosive growth. The price of Bitcoin surged 20 times, from $1,000 at the beginning of the year to $20,000 at its highest point. The total market value of the top 100 cryptocurrencies have exceeded $600 billion, with ICOs raising more than $6.133 billion in the past 11 months, accounting for 96 percent of total financing over the past four years.
The sizzling Bitcoin and ICO markets caused a surge in attention within the global community about blockchain technology, as it is now widely believed to be a game changer. However, this also brings certain uncertainties when upgrading to Blockchain 3.0, because it lacks the power of penetration into the real business world; numerous difficulties and obstacles prevent its real-world application; and its “infancy” stage on the development of decentralized application.
The birth of ArcBlock is exactly the right time to further empower the blockchain technology to be implemented into the real world, and has an extraordinary epoch-making significance in the long run.
Revolutionary New Design Is Leading the Blockchain 3.0 Trend
“ArcBlock is a comprehensive solution that combines blockchain technology with cloud computing, rather than a standalone software package or set of APIs,” Mao says. “In addition, it’s a marketplace driven by token economy. ArcBlock’s ‘miners’ will contribute not only computing resources to the system, but also reusable components, new services, or ready-to-deploy applications to get token rewards. This is a Blockchain 3.0 application ecosystem developed by the entire ArcBlock community-we’re just jump-starting the project.”
ArcBlock’s Open Chain Access Protocol enables the application to adapt to a variety of blockchain protocols including Bitcoin, Ethereum, Hyperledger, and more. It eliminates the platform lock-in issue and enables applications to run on multiple blockchain fabrics, vastly improving the developer and user experiences. Blocklet is another revolutionary component that takes advantage of the latest micro-service architecture and server-less computing technology. Blocklet is a high-level application protocol