Ardor Review: Coin Analysis
Ardor is a new blockchain-based platform. It was launched on 24th November 2017 by Jean-Luc and Lior Yaffe. This cryptocurrency is a Blockchain-as-a-Service (BaaS) platform. Its purpose is to develop the system technology of Nxt using child chains.
The Ardor blockchain is the first platform that implemented such an innovative concept as Child Chains.
What are child chains and Nxt?
Nxt is an open-source blockchain platform and a child chain. You can use the Nxt platform as a payment intermediate where everything is possible. You can create marketing listing or advanced applications through the Nxt Application Program Interface (API). Ardor became the successor of Nxt and is called the main parent chain.
As a user, all your transactions will be proceeded by the main parent chain. This gives the opportunity for cross-chain transactions to be possible. This means that the percentage of getting the blockchain bloat is reduced.
Child chain is like an intermediate for transactions between parent chain and child architecture. The Ardor system which is considered to be a parent chain has a stronger security and a lot of forging power to protect the child chains.
How does Ardor platform work?
Ardor works with Proof-of-Stake (PoS) mechanism. That means the mining activity isn’t involved. Also, the Ardor platform is a Blockchain-as-a-Service (BaaS) model. It allows developers create their own applications using the usual programming languages, such as C# or Java. The high security is guaranteed.
Anyone can create its own digital currency using the Ardor platform. This makes the blockchain be more accessible than Ethereum, for example.
The platform was designed to also solve the existing blockchain problems related to scalability and bloating process. To solve the dilemmas with the high size of files, Jelurida (the team behind the Nxt and Ardor blockchains) implemented a new architecture, called Child Chains.
That’s how Ardor became the main chain or the parent chain. Its functionality is to assure a strong security to the whole network.
Does Ardor have child chains?
The first child of Ardor is still in the developing process and is called Ignis. This will be an open-source and permissive blockchain, that anyone can use for free. Companies can buy the official licenses from the Jelurida platform and create their own child chain.
The Advantages of the Ardor blockchain
– It’s the first platform that introduced the concept of Child Chains;
– The parent chain Ardor provides a strong security for all child chains;
– The platform is scalable. This means you can realize transactions at a high speed;
– The platform was built on Nxt algorithm puzzles;
– The creators assure users the blockchain bloating is reduced.
The Disadvantages of Ardor blockchain
Ardor is still very young and needs high promotion to become a good opportunity for its users, developers, and companies. It will take some time to prove that the platform is worth our investments.
To stay updated with news, follow the Ardor’s official website.