Updated: Dec 20, 2019
Ardor is a cryptocurrency, which uses blockchain as a service (BaaS) project based on the open-source NXT blockchain platform. It is the latest contender in a growing list of BaaS providers, which aims to compete with enterprise solutions such as Microsoft Azure. ARDR token is the PoS token used on the Ardor platform.
This guide will talk about the purpose for which Ardor is designed, the team behind it, the way it works and various uses and applications.
What Is Ardor Designed For?
The Ardor blockchain is designed to enable easy aliasing, secure messaging, account control, plugin support, and marketplace transactions, among numerous other features. It is intended to provide the blockchain infrastructure that shall be used by businesses and institutions, to leverage the many strengths of blockchain technology. These benefits are expected to be offered, without having to limit a business’s potential, by investing in the development of custom blockchain solutions.
Ardor goes beyond the usual blockchain issues to offer solutions for critical issues of blockchain bloat, scalability, and customization. Because Ardor relies pretty heavily on the NXT platform’s core programming, it has earned itself the nickname of NXT 2.0. The team designed this platform to contain all the features available in NXT, in addition to some other unique advanced capabilities.
Who Is the Team Behind Ardor?
The Ardor developers are the same team behind the open-source NXT project and Ignis - a private company called Jelurida. Jelurida team dates back to 2013 and is one of the industry’s most experienced blockchain development teams
The team comprises of respected, experienced and notable developers, with over six years of experience in creating and maintaining blockchain code.
How Does Ardor Work?
Ardor works on the main chain and child chain principle. The main chain handles all matters related to security and decentralization, while the customizable child chains manages a broad range of business applications.
Ardor does not suffer from the seemingly numerous problems faced by users on the NXT platform, such as the forceful holding of native NXT token, blockchain bloat with an increasing need for more storage, and customization issues in terms of asset creation and trading platforms.
The Ardor platform effectively changes the NXT architecture to support all NXT features, without its needless limitations. It revolutionizes the way blockchains get implemented. The Ardor main chain is slimmed down to a skeletal frame, ensuring security and speed. This way Ardor effectively separates functionality from security.
Child chains are the new projects on Ardor and hold all the functionality and customizability, originally supported on NXT. These child chains are linked with the main chain and derive all their decentralization and security from there. Child chains can also quickly adapt to user customizations, as the blockchain infrastructure is already set in place.
What are Current and Future Applications of Ardor?
The first use case of Ardor was implemented by the developing team when they created Ignis. This proof of concept was designed as an example of an operating child chain, with intentions to be the first of many more child chains on the platform.
Other projects launched on the Ardor mainnet include Triffic, which is a tokenized customer loyalty program platform, Max Crowdfund, a property financing project, and a proof of concept for the popular decentralized exchange, Binance.
Ardor child chains can also be used by digital file transfer services, equity trading platforms, and private enterprise blockchain applications, among many others. The inherent benefits of Ardor, in terms of quick set up time and wide customizability, makes it a fantastic option for companies, looking towards leveraging blockchain without the need for dedicating resources in custom development.
Currently, there are a little under a billion ARDR coins in circulation. New coins are not expected to be issued since Ardor uses a proof of stake, instead of proof of work consensus algorithm.
Market projections for the ARDR coin depict that it could be a profitable investment option for traders and crypto investors. Because of the coin’s significant growth and relatively stable trends in the past, the coin has grabbed investor attention from all corners of the world. The crypto coin shows a lot of promise with many notable industry enthusiasts, placing bets on the coin’s growth.
Further, the platform recently enabled the use of the simplistic Java language for programming, which makes it extremely easy to create and run an ICO. This has enabled Ardor to become more accessible and simpler for the masses, compared to other traditional decentralized application providers, such as Ethereum.
Such improvements and upgrades are sure to take Ardor to new heights in the future.