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ArcBlock
About ArcBlock
The ArcBlock Token (ABT) is a general-purpose token native to the ArcBlock platform. The platform has its own optimized blockchain to achieve high-performance transactions, with a goal of >100,000 Tx/s. The ABT is primarily used to pay for the cost of using the ArcBlock system, similar to a utility token. Developers can pay transaction fees for their end-users, which improves the user experience. The ABT maps to ERC20 tokens 1:1, which simplifies token exchanges and allows developers to tie into the Ethereum community. However, the ABT may become obsolete as the platform matures and the community grows.
ArcBlock is a blockchain development platform and ecosystem designed to simplify the process of building and deploying decentralised applications (dApps). It combines blockchain technology with cloud computing to deliver a service-oriented platform where developers can access reusable services, components, and application infrastructure.
The platform introduces a number of core technologies:
- Open Chain Access Protocol: An abstraction layer that allows applications to work with multiple blockchains without changing business logic.
- Blocklet: A serverless, microservice-based application protocol for managing both on-chain and off-chain logic.
- Cloud Nodes: Cloud-based service nodes that support scalability, security, and decentralisation.
ArcBlock aims to solve performance, usability, cost, and interoperability issues faced by earlier blockchain platforms. Its architecture allows for off-chain computation, seamless user experiences, and the reuse and sharing of application components via the ArcBlock Marketplace.
ABT is the native utility token of the ArcBlock platform. It is used within the ecosystem for various operational and incentive purposes, including:
- Paying for services: ABT is used to cover the cost of using ArcBlock’s platform services, similar to how cloud service subscriptions operate.
- Developer staking: Developers may be required to lock ABT tokens when deploying mission-critical services.
- Ecosystem incentives: Contributors such as miners (both resource and component miners) receive ABT as rewards for supplying compute resources or developing reusable components like Chain Adapters and Blocklets.
- Marketplace transactions: ABT facilitates exchanges within the ArcBlock Marketplace, where users can obtain and contribute components, services, and applications.
- Token economy support: Applications developed on ArcBlock can issue their own tokens, which inherit ArcBlock’s features and can interact with ABT where needed.
ArcBlock also enables developers to map ABT to ERC-20 tokens for compatibility with Ethereum infrastructure.