This is a copy of the ARK ACES blog found here: https://medium.com/@arkaces/aces-completes-integration-of-ethereum-channels-for-two-way-transfers-and-contract-deployment-297b66ae1d5c
The ACES team has completed integration of services for Ethereum to the updated ACES protocol. This means users can conduct two-way transfer services and contract deployments and gain the benefits of our API implementation and in the near future conform to a global marketplace standard for listing and consuming services.
Now that we have several types of services available, the ACES team will now focus our efforts on building out user-interfaces to the marketplace. We encourage communities to reference our repositories to modify the open source code to work for your favorite coins. With ARK, Bitcoin and Ethereum protocols complete and available as reference, a wide variety of alt coins should be much easier to integrate.
We encourage users to implement services to connect to ARK, because doing so will allow ARK to serve as the hub for services, and additional connections will gain the benefits of all existing connections. As shown in a prior post, ETH to BTC services are now available by connecting to services together.
Using ACES + ARK Push Button Blockchains for ICOs
It is apparent that using ACES alongside ARK’s Push Button Blockchains is a powerful idea.
New projects looking for use ARK’s push button clonable blockchains are encouraged to launch an ACES service alongside with their chain as part of their ICO. Doing so instantly connects your coin to the rest of the crypto-ecosystem because of the service-linking concept described in the previous post. In this way, you would be able to receive funding in any connected coin without directly knowing it, as all steps in the chain convert to ARK in the final step.
Additionally, if you are launching a new blockchain and own 100% of the supply, you can launch an ACES service to provide all of that capacity and effectively start an instant ICO. Users would go to your ACES service to receive your new coin, depleting the services capacity towards zero for the duration of the ICO. This means you would not need to use an intermediate coin for your ICO as coins like EOS and VeChain have done with Ether.
This approach also provides great protection to your community members. We have seen many new coins unable to list on more reputable exchanges, subjecting their community to increased theft and loss of coins. The ACES protocol will lead to quicker integration of new coins to the global cryptosphere, reduced risk to users and investors, and dramatically improved cryptocurrency utility.
What’s next
We are working on the first iteration of the marketplace UI, which will demonstrate peoples ability to register service applications to the directory. Over time we will expand this to include service execution, registration, management and reviews.
We are also actively seeking other communities to get involved building services that are compatible, getting their feedback on what works and what doesn’t, and improving the software in iterative steps.
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