Ardor (ARDR) Review – Crypto Coin Judge
Trust is important for businesses. Today, banks are trusted to hold the money; similarly, e-commerce companies are believed to deliver the ordered merchandise on time; payment platforms are also trusted to protect the transactions from misappropriation or fraud. Now, what if this trust comes embedded in the sophisticated technology that supports complex transactions and disrupts every aspect of a business?
Well, that is what the blockchain is all about. This new technology is exciting, fresh, and ready to completely reinvent a number of industries and business processes. Now, what is blockchain? Put simply, it is a decentralized or distributed digital network that simplifies and streamlines the exchange of different values or confidential data including contracts or other financial assets.
This is why many businesses are embracing the blockchain technology. But businesses have even found blockchain management costly because the technology faces multiple issues related to scalability, bloat, and versatility. So, basically, a blockchain is needed to reduce the bloat and other scalability and versatility issues—that is when Ardor was born.
Ardor: The rise of futuristic blockchain solutions and the team behind them
Taking the key points from the rich heritage and history of Ardor
Ardor has been evolved from the NXT Foundation. As per Ardor, this brand-new solution is designed to solve all the scalability and customization issues faced by many traditional blockchains. NXT Foundation’s Ardor—the blockchain of the future—solves these issues with a range of proven, tested improvements.
These improvements not only handle the scalability issues but also come with four additional advantages that include bringing down the block size, reducing the blockchain bloat, offering multiple transactions, and hosting ready-to-deploy interrelated blockchains.
This series of improvements is planned to be introduced with the NXT 2.0’s release; that is what is known as the Ardor blockchain. Developed from the time-tested NXT’s blockchain, Ardor, quite like many other coins, such as Basic Attention Token (BAT), Augur (REP), Binance (BNB), Bitconnect (BTC) and many more is all set to cater to the rapidly evolving blockchain market. This all-new blockchain platform will seamlessly bundle and prune the data for making the NXT network more capable, scalable, and efficient with time.
The team that brought Ardor to the world
The core development team, which brought the revolutionary NXT blockchain to the world, is working hard to deploy the future of blockchain for forward-thinking businesses; this transformative blockchain force is none other than Ardor. Known as Jelurida, the development team of Ardor includes not only software engineers but also a legal expert.
Together, the team members work with great confidence, passion, and dedication to making sure that this blockchain delivers the right results at the right time every time. The team has the best experience to fine-tune the entire blockchain with regard to its legal, engineering, scientific frameworks.
Ardor’s development team has taken the most notable features from NXT so that an advanced blockchain platform can be evolved—a blockchain that can handle the customization and scalability requirements of a business with great ease. The team, further, will continue working on developing the best blockchain technology in the coming time.
Analyzing Ardor—bringing scalability, security, and customization to blockchains
Explaining Ardor and its matured architecture
Jelurida has put real technical expertise and rich blockchain-centric experience to create a unique parent-child chain architecture that is known as Ardor. This Ardor platform has multiple transaction chains and a single security chain for making sure that the blockchain bloat is brought down and multiple transactional tokens are offered. Apart from these advantages, Ardor will even simplify the process of hosting ready-to-use interconnected blockchains.
Ignis will be the first-ever Ardor child chain; the development team, here, has even planned to introduce the best-selling features of NXT into Ardor’s different child chains. This move will sure help in the evolution of the child-chain blocks and will even help in bundling the entire transactions from different child chains into the major Ardor chain block.
Because of this, the pruning of older transactions will be simpler and quicker than ever. Since there will be multiple backup nodes available, Ardor will hopefully evolve into a highly matured architecture of the future. The Ardor platform provides the most innovative blockchain-as-a-service (BaaS) solutions, and it even has its own cryptocurrency known as Ardor Coin or ARDR.
The Ardor blockchain architecture
Dissimilar to other cypto coins, such as MaidSafeCoin (Maid), MonaCoin (Mona), NEM (XEM), OmiseGo (OMG) and a lot more, the Ardor platform is divided into two specific parts—the main, or parent, chain and the child chain. Each of these parts is available in distinct blockchains that are engineered for businesses having use-specific applications and features. Now, let us explain the two chains.
Child chain and parent chain
Ardor is doubtlessly the next-gen blockchain enabling the addition of many child chains. Here, Ardor will act as a parent chain processing multiple transactions via the proof-of-stake (PoS) consensus mechanism. This mechanism is engineered to provide the most robust scalability and security to all the underlying child chains. Plus, the child chain transactional fees are paid in only native tokens.
A child chain is exactly how the NXT software will provide the magnificent ability to take the network performance to the next level. This improvement will be done by maintaining all the transactional history without ever verifying all the individual transactions.
In the whole Ardor ecosystem, different child chains will seamlessly exist for carrying all or only a few of the parent chain’s characteristics. This enables the users to simply manage one single account but claim the balances of multiple child chains simultaneously. (It is interesting to note that the Ardor child chain will never represent the sidechain approaches.)
Ardor’s Ignis will be one child chain that will be completely permissionless and will not include any restrictions. Through the parent-child environment, assets and tokens can be traded throughout the chains that will enable users to directly use all the IGNIS tokens for child chain tokens or the ARDR.
How Ardor develops and delivers tomorrow’s innovative blockchain today
Ardor, like many other cryptcurrenices, such as BitShares (BTS), Cardano (ADA), Dent (DENT), Decred (DCR) , is big on the idea of introducing cutting-edge innovations to the world of blockchains. The first inventive thing that Ardor does is the adoption of the time-tested PoS mechanism. Since it is working on the PoS consensus mechanism, the Ardor platform does not involve resource-heavy mining ever. Instead of this, with this blockchain, the coins are minted or forged seamlessly. And that is why Ardor is more cost effective and efficient than a blockchain working on PoW at any given time.
Ardor’s PoS approach makes the blockchain and its associated coin resistant to censorship; that is because the PoS algorithm never relies on mining factories. (The factories involved in mining cryptos make the process pretty lucrative and a centralized target that can be censored anytime, anywhere.) Because of the PoS-algorithm implementation, the Ardor seamlessly fixes the issues of blockchain bloat and scalability without any hassles whatsoever.
The Ardor’s BaaS platform was developed for using proven features of reliable, solid NXT blockchain technology. Ardor extends the reach of NXT and makes it fit to be used in a number of applications that need scalability and that should avoid mining. Another innovation that Ardor has introduced is in its architecture is the creation of two chains, which include the parent chain and the child chain.
The blockchain problems Ardor is engineered to solve head on
The biggest problem, faced by any user of a decentralized blockchain, will be the maintenance of the complete transactional history. The simple science behind this is that the more the blockchain is used, the bigger and more cumbersome it becomes to manage it. In a way, the network here has to carry all the burden of its own sweet success.
But that is exactly where Ardor comes in. Ardor solves three basic issues that are faced by everyday blockchains; these issues include bloat problems, single-token dependency ones, and customization roadblocks. In this section, the explanation is given as to how this revolutionary blockchain can seamlessly solve all of these issues.
To manage the bloat issues, the Ardor parent chain will only store all the transactions affecting every single balance of the forger. All the other transactions done by the child chains are properly pruned; this leaves just simple cryptographic proof that authenticates a transaction’s previous existence.
Single-token dependency solution
The users of all the Ardor child chains will only deal with the child-chain tokens that are meant for both transaction fee payments and transfer of values.
The customization is very important for a business; a company needing its own individual blockchain will need to maintain its own bank of servers. But that will never be the case with the Ardor blockchain. So if a business has invested in Ardor, it will never have to worry about the system’s security and about managing a whole network of servers.
Setting Ardor apart from the rest
Ardor’s features have made this platform a very powerful upgrade when compared with other blockchains. Nevertheless, the fact that Ardor has the capability to share different encrypted messages with other parties is, in itself, a game-changing advancement.
With the Ardor platform comes the following features.
- The subordinate transactions are completed in 60 seconds.
- 40k data storage is available
- Phasing done with the help of Ardor’s addition of +logic
- Restricted tokens
- Voting made possible
- Marketplace access made simpler
- Coin shuffling anonymity is delivered
- Parent-child architecture
- Transaction pruning
- Separating the security token from all the operational tokens
Doubtlessly, the Ethereum platform is very similar—but it is not at all close to all the tech abilities that Ardor brings to the table. And one last big Ardor feature, which has proven to be truly revolutionary, has been the implementation of the child chains. These child chains have the impressive potential and stop the blockchain to suddenly disrupt an entire industrial landscape.
This program does not rely on mining whatsoever—and that is the biggest advantage in terms of cost and time. And the security of this blockchain comes from the hierarchy that is established with the help of the parent-child token ARDR. Each of the child-chain tokens are meant to be used as the transactional value.
A quick overview of Ardor coins
Unlike bitcoins, every single Ardor coin exists via the NXT from the get-go. This cryptocurrency is programmed to be financed while doing any kind of transaction. Since the entire Ardor blockchain platform works on PoS, the coin is not mined but forged. The users who found a complete block via forging will be awarded a specific transactional fee.
The Ardor crypto coin will come into action whenever the transaction fee has to be charged within the child chains. The chains will collect the entire transactional fee and will pay them using Ardor coins to the chief blockchain. This concept even applies to the entire childchain tokens. Now, let us check out the existing price of the Ardor coins.
Ardor coins—the details lie in their pricing
At the time of writing this, Ardor coins have touched USD 1.08. The market cap of this digital coin is USD $1,081,596,773 that is equal to 59,695 BTC—which is quite a lot. Now, here is the six-month list showing all the different values of Ardor.
As it is clearly visible from the table, the Ardor coins are mercurial yet boast a bullish nature. That is precisely why investing in this crypto like bitcoin will give you decent returns in the coming time.
Ardor blockchain: The launch date is coming soon
Absolutely not like other coins, such as DigiByte (DGB), Digital Cash (DASH), Dogecoin (DOGE), etc., the Ardor platform will launch on January 1, 2018. During this phase, the blockchain platform will be fully operational for consumers because the brand zones are on complete stabilization. In the first quarter, every single effort was gone toward fixing the post-launch issues. This has created a lot of different positions for developers, support, and quality assurance.
While in the second quarter, nearly all the child-chain transactions are pruned because the data is shared through Testnet nodes. Further, more and more child chains are present on the Mainnet. However, the development team had already integrated the top features that are not dependent on the correlation in the entire parent-child architectural chain.
During the third quarter, the results of all the data collections and pruning are revealed. Importantly, here the founder’s goal is to emerge as an exclusive source for the blockchain applications. Being a functionally rich system, Ardor’s chief goal is to seamlessly release on time keeping the platform’s quality intact.
Summarizing Ardor: The final point
At the time of writing this, the Ardor test network is open to all and sundry. The key purpose of this is to enable users to test all the features of this blockchain so that the development team can simply optimize the entire platform. This optimization will go from the mainnet launch that took place in the third quarter of 2017—these optimizations and final tweaking will add to the platform’s robustness. Further, by establishing the child chains, the users will be able to leverage the true potential of this blockchain.