Ardor, blockchain as a service
Ardor is one of the pioneers of blockchain-as-a-service even if it is still little known to users. Since its launch, it has benefited from the strong capitalization of the digital currency market and has successfully established itself in the top 100 of cryptocurrencies.
Presentation of crypto
Ardor is a decentralized computer network using the ARDR token as an exchange value. It is a blockchain specially designed for business applications. The platform has three different blockchains, each of which has its own tokens.
The Ardor courses (ARDR) is 0.031321 € approximately with a 24-hour trading volume of nearly 740,000 USD. It has a circulating supply of 999 Million coins and a max supply of 999 Million coins.
The history of this cryptocurrency
The Ardor project evolved from the NXR Foundation. It is recent, although it stems from a first crypto known by the acronym NXT. It was in 2017 that the latter became Ardor, with the aim of proposing improvements to users and correcting the negative points encountered with NXT.
There are several block chains on the Ardor platform, including:
- The main chain, also called the mother chain, which is as light as it is fast. It is designed to secure the network in the first place, which explains its lightness, speed and efficiency.
- Child chains have more complex features. Ignis is Ardor’s first child channel. It’s an open, unauthorized blockchain. It’s accessible to all.
In recent times, blockchain technology has attracted increasing interest from businesses. However, developing your own solution is complex. As NXT encountered scalability issues, the company has changed direction and wants to offer a massively scalable blockchain service. So the introduction of a blockchain-as-a-service (or blockchain-as-a-service) model for businesses makes a lot of sense.
To be one of the pioneers in Baath, the Ardor team has developed a very interesting technical approach. First, Ardor uses the single parent-child concept. This method allows companies to create and program their own products and services using the concept of child chains, with a range of different functions. At the same time, these products still enjoy the security provided by Ardor’s mother chain. In addition, Ardor’s blockchain as a service aims to be as energy efficient as possible.
How crypto works
The main feature of Ardor is a multiple and flexible chain system. To understand how this crypto works, it is essential to understand the link between block chains and NXT, Ardor coin and Ignis tokens. Indeed, Ardor and Ignis are designed to work in tandem to allow companies to create their own customizable solutions.
Creating a child blockchain
The first Ardor child channel is Ignis. It is largely a replica of NXT. It’s also the native currency needed to use and access Ardor’s features. As Ardor stems from NXT, it includes all the functionality supported by this blockchain. However, it changes the architecture of the implementation of new blockchains.
If you want to implement a new program on Ardor, you create the child chain. It has all the features and customization loaded by NXT. However, it remains linked to the parent chain and derives its security and decentralization from the use of the main chain for verification.
Add to this that Ardor is a cryptocurrency operating with “proof-of-stake” or proof of stake, characterized by the absence of mining and not “proof-of-work” or proof of work. Thanks to this system, it is much less energy-consuming, so it does not require mobilizing heavy equipment to operate.
Regarding transactions related to applications, marketplaces, smart contracts, cryptocurrency exchanges, etc., they are stored in child chains and then deleted. And like the rest of the crypto ecosystem, Ardor found that smart contracts weren’t that smart. Therefore, it offers a new system of digital contracts: Light weights contracts.
Advantages and disadvantages of this crypto
Ardor is a platform offering blockchains as a service.
Advantages of Ardor
- First, Ardor offers the simplicity of creating a child chain, available turnkey in a few hours.
- It also allows adaptability and advanced customization of these children’s channels.
- The side chains benefit from the security and speed of the main chain, without being encumbered by its data.
- The platform has low energy consumption and low node weight.
- It offers many blockchain innovations (Light weight contracts, parent-child system, etc.)
The disadvantages of Ardor
- The simplicity of the implementation and use of Ardor is not yet very certain, since there is not yet user feedback as to the veracity of this selling point.
- A plutocratic consensus system, which like all POSs favors the wealthy.
How to buy this crypto
Information on the price of the Ardor are available on their platform. Currently, it is not possible to buy this crypto in euros. You will have to go through the steps described below to buy Ardors.
Buy BTC or ETH
To do this, you must first open an account on a platform (for example EXMO or CEX.io) and identify yourself. Then choose the currency you want to buy: BTC or ETH, then the currency you will use (EUR, USD or GBP). After the different steps and a short delay to validate the transaction, you now have an account funded with BTC / ETH.
Transfer your BTC / ETH to a platform
After your purchase, you must now transfer these BTC / ETH to another platform. The latter will allow you to buy other cryptocurrencies, including the Ardor. There are several crypto exchange platforms that offer these pairs, the HitBTC for example.
Transform BTC or ETH into Ardor
When your account is credited in Bitcoin and / or Ether, you can use the latter to acquire Ardor. In the same way, you can use the Ardor to buy BTC and ETH.