Ardor (ARDR)
The foundation of Ardor
The role of Nxt
Ardor is built upon the foundation laid by Nxt, a well-established blockchain technology known for its longevity and experienced development team. Nxt employs a proof of stake (PoS) system, which is characterized by its approach to transaction fees and token supply. Unlike systems that generate new tokens with each block, Nxt has a fixed token supply, with forgers earning transaction fees for block verification. This model necessitates the use of NXT tokens for transaction fees, even when new currencies are created on the platform, which historically presented challenges related to currency valuation.
| Ticker | ARDR |
| Category | Infrastructure |
| Website | https://www.ardorplatform.org/ |
| @ArdorPlatform | |
| https://www.reddit.com/r/Ardor/ |
Addressing blockchain challenges
Ardor advances beyond Nxt by addressing critical issues such as blockchain bloat, scalability, and customization. As blockchain adoption continues to grow, these issues become increasingly significant for all blockchain technologies. Ardor's architecture is designed to overcome these challenges, providing a scalable and adaptable solution for future blockchain applications.
The architecture of Ardor
Main chain and child chains
Ardor's architecture features a main chain responsible for the overall security and decentralization of the blockchain network. This main chain is complemented by child chains, which are fully customizable and ready for deployment. The use of child chains allows businesses to tailor blockchain applications to their specific needs without compromising the security provided by the main chain.
The significance of Java
One of Ardor's key architectural advantages is its development in Java, one of the most widely used programming languages globally. This choice enhances Ardor's accessibility and potential for commercial success, as Java's prevalence means more developers can easily work with and understand the platform.
Ignis: A proof of concept
Ignis serves as Ardor's primary example of a functioning child chain, implementing all customizable features derived from the Nxt code base. It acts as a proof of concept, demonstrating the capabilities of Ardor's child chain model. The Ignis initial coin offering (ICO) successfully raised $15 million to support its development, highlighting its potential as the first of many innovative child chains on the Ardor platform.
Potential applications of Ardor
Ardor's strengths in quick setup time and customization make it an attractive option for companies seeking to implement blockchain technology. Potential applications for Ardor's child chains include equity trading platforms, digital file transfer services, and private enterprise blockchain solutions. This flexibility positions Ardor as a versatile tool for a wide range of blockchain use cases.