Crypto token exchanges are still centralized markets – decentralization has not yet come to exchanges. Each user must send their tokens to an exchange, and then withdraw their new crypto back into their own wallets. This creates a vulnerable point for outsiders to attack, and users have to rely on this centralized authority to allow them to access their crypto after an exchange has been made. Ark Project believes that simpler is better.
Their goal is to allow different blockchains to communicate directly with each other, without having to go through a centralized authority.
This keeps transactions simpler, so that there is less opportunity for something to go wrong, and even lowers transaction costs. However, this technology isn’t just for cryptocurrency.
Ark Project sees their platform being used in smart home features, car-sharing, Airbnb, or any other organization that matches providers with users.