Ardor is a blockchain-as-a-service (BaaS) platform that provides businesses and institutions with the whole environment for setting up their own chains without having to code themselves. Fueled by a native cryptocurrency ARDR, it has a unique parent-child architecture. Ardor as a parent provides the network itself and interoperable child chains come with a rich set of features. This approach provides developers not only with the needed flexibility, but also helps to eliminate other industry issues such as single token dependency, scalability, and blockchain bloat. Ardor comes with a built-in exchange helping users easily convert tokens from different chains between each other.
Ardor offers businesses an out-of-the-box solution for deploying their own blockchain-based apps, smart contracts and other features. Similar to well-known Software as a Service (SaaS) business structure, the project takes responsibility for maintaining the whole infrastructure and all the related headaches.
Solving problems of NXT
Ardor was created on a basis of the Nxt blockchain by their parent company Jelurida based in the Netherlands. The main goal behind creating a new version of Nxt was to resolve some critical issues that Jelurida has discovered while working on the initial project:
Single token. Nxt is fueled by a native token NXT required for every transaction which creates additional inconveniences for the users. Ardor makes it possible to use the currency of the child chain to carry out transactions.
Blockchain bloat. This problem is inherent to most blockchain networks. It implies the necessity to download the entire blockchain for every new validator as every node keeps the records about all transactions that have ever occurred over time. Ardor suggests holding only those transactions that affect the balance of validating nodes. Every new node added to the chain only has to validate transactions of the parent chain.
Customization. In order to use the blockchain technologies at their fullest, businesses need some level of customization to be able to create their own blockchains with their own set of features. Nxt didn’t provide the appropriate level of customization, so Ardor came out with a solution to this problem giving companies a chance to request customized features.
Ardor key features
With the mainnet launched on January 1th, 2018, Ardor has come out with a set of features to help businesses roll out their products on the platform, such as:
Aliasing which helps to create accounts with names that are easy to remember and thus facilitates transactions.
Data cloud which allows storing data securely in a decentralized manner.
Account control with sophisticated options to control users’ actions.
The monetary system that allows creating custom tokens to be used on subsidiary chains.
Secure messaging which allows communicating in an encrypted way.
CoinShuffle which helps users to quickly and securely move funds.
Voting which allows conducting polls in a decentralized and anonymous way.
Plug-ins to customize functionality further.
Ardor coin ARDR
The Ardor network has its own native cryptocurrency ARDR. No ICO was ever conducted as the coins were distributed among NXT holders based on their balances. Next 1.0 users received and amount of ARDR tokens equal to the average NXT balance. To calculate this average balance, the first snapshot of the system was taken on July 14th, 2017 and the last one ended on the network block number 1,000,000. The new coins are released with the help of the Proof-of-stake consensus algorithm.
For those who want to purchase the ARDR tokens, this option is supported by many reputable exchange platforms, such as Bilaxy, Binane, Huobi, and HitBTC. The coins can be stored on a native Ardor wallet which is available on the web and as an Android app version.
The company Jelurida was launched in 2016 with the initial goal to develop the Nxt platform. There are three co-founders who also stand behind Ardor. They are:
Kristina Kalcheva. Having International Relations Degree from Sofia University and being a Master of Law, she’s responsible for all legal questions that Jelurida comes across. Her professional skills are mostly related to the private national, European and International law.
Lior Yaffe. Having started his career at the end of the ’90s, Lior has 20+ years of experience in design, development, and deployment of business applications for big companies.
Petko Petkov. With a Master’s degree that he received at Sofia University, Petkov has worked as a software engineer since 2006, having changed a few software companies. He started off as a mobile Java developer and later switched tot he server-side Java software.Read More