On which platforms can Ardor (ARDR) be bought and sold?
Ardor is a platform that offers blockchains as a service. This is called a “Blockchain-as-a-Service” platform.
Creating a “blockchain-as-a-service” model is one thing, but making it attractive to companies is another. To do this, the Ardor team has developed an interesting approach from a technical point of view. First, Ardour uses a unique parent-child architecture that allows companies to build their own products and services using the concept of children’s channels. At the same time, these products will still benefit from the security provided by Ardor’s parent chain. The use of side chains (sidechains) has become a subject of great interest in the Blockchain world recently. This is indeed very relevant.
In addition, Ardor’s “blockchain-as-a-service” aims to be as energy efficient as possible. Even if the exploitation of a blockchain is not at the same level as the extraction of cryptocurrency, there are energy needs to be taken into account. With Ardor, mining competition is completely eliminated and consensus is reached through a distributed system. Running a network node to secure the Ardor infrastructure requires very little electricity, and the equipment used to do so does not need to be too expensive either.
Ardor also aims to reduce blockchain bloat as much as possible. This is where side chains are useful. Children’s transactions can be removed from the blockchain once they are confirmed. This allows the Ardor blockchain to be both light and efficient. The use of sidechain chains for this specific purpose makes a lot of sense, as there will be no unnecessary information on the parent chain.
As is always the case with any blockchain solution, Ardor will remain stable or drop depending on its reliability. This platform was built on the NXT infrastructure. Cryptocurrency enthusiasts know NXT because it has been used all over the world for the past four years. In addition, Ardor was developed using Java, which is one of the most popular programming languages in the world today. The development of commercial applications becomes much easier when the development language is already familiar to most coders.
How it works: for what purposes can we buy Ardor (ARDR)?
Thanks to NXT, a crypto-currency with its program code, the company can offer what are called “children’s channels” (as opposed to parent channels). Unlike Bitcoin, all parts exist via NXT from the beginning (NXT uses the forging principle). Ardor Coin (ARDR) is the cryptocurrency associated with the platform.
Users who have “solved” a block through forging receive a transaction fee. The chains collect transaction fees and pay them through the Ardor Coin at the main blockchain. This also applies to Childchain tokens: they are first collected on the Childchain and then paid to the main chain (in Ardor Coin). All Childchains are connected to the Ardor main chain.
On the one hand, the main channel processes all transactions of all children’s channels. Through the main chain, it is also possible to exchange ARDR transactions.
However, other features are only available on child chains, as they would unnecessarily overload the main chain otherwise. This ensures the performance of the main chain.
Ardor is developed by Jelurida, NXT’s main development team. Creating a child chain allows users to use Blockchain technology for their own business. This way, users can have their blockchain. They may hold and exchange assets on the latter.
Our review: should we buy Ardor (ARDR)?
At this stage, it is too early to say whether Ardour can succeed or not. It is true that the project has received a lot of attention recently. In addition, the native ARDR token has appreciated in value, which seems to confirm that there is at least some interest in what this project has to offer. Some interesting developments are still on the agenda, including the launch of additional children’s channels, support for specific types of transactions, etc. The project is very promising but we are waiting to know more before positioning ourselves!