Ardor

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Discover Ardor's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ardor?

Ardor (ARDR) is a decentralized multi-chain blockchain platform that utilizes a unique "parent-child" architecture. The parent chain ensures network security, while child chains provide customizable, business-ready functionality. This hybrid design allows for the creation of multiple transactional tokens and offers energy efficiency through its proof-of-stake consensus algorithm. Ardor aims to provide a scalable and customizable solution for businesses and institutions to leverage blockchain technology without requiring extensive technical expertise.

How is Ardor used?

Ardor (ARDR) is a multichain blockchain platform that uses a unique parent-child chain architecture. The security of the whole network is provided by the parent Ardor chain, while the interoperable child chains have all the rich functionality. This design allows for flexibility and scalability, making it suitable for various use cases and mainstream adoption of blockchain technology.

Key Features and Uses
  • Child Chains: Ardor allows users to create their own customizable child chains, which are separate blockchains within the Ardor ecosystem. These child chains have their own native tokens and built-in features necessary for their specific use cases.
  • Token Usage: The ARDR token is used in the proof-of-stake (PoS) consensus algorithm, providing security for all child chains. Child chain tokens are used as transactional units of value within their respective chains.
  • Interoperability: All child chains are interconnected, enabling the trading of child chain tokens with each other and with the parent chain coin (ARDR) on a fully decentralized coin exchange.
  • Scalability: Ardor solves the problem of blockchain bloat by pruning off unnecessary child chain data once they are included in the permissionless Ardor parent chain, ensuring the network remains efficient.
  • Smart Contracts: Ardor supports safe smart contracts, allowing for a variety of use cases and applications.
  • Customization: Child chains can be customized with enriched functionality, permissioning, or custom parameters as needed.
Practical Applications
  • Business Use: Ardor provides a convenient setup for businesses, offering network scaling options and a complete ecosystem where multiple players can interact without leaving the platform.
  • Decentralized Applications: Child chains can be used to build decentralized applications without downtime, censorship, or interference, making them suitable for both personal and public use cases.
  • Token Trading: ARDR tokens can be traded on various exchanges, such as Bittrex, HitBTC, and Poloniex, against currencies like BTC and KRW.

Overall, Ardor (ARDR) is designed to provide a flexible and scalable blockchain platform that supports a wide range of applications and use cases, making it a versatile tool for both businesses and individuals.

How do I store Ardor?

To store Ardor (ARDR) tokens, you can use the NXTWallet, as Ardor is an asset of the Nextcoin cryptocurrency. If you already have NXTWallet set up, the address for receiving ARDR tokens will be the same as your NXTWallet address.

How to buy Ardor?

To buy Ardor (ARDR) tokens, you can follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports Ardor (ARDR) purchases, such as Binance, Huobi Global, or Poloniex.
    • Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.
  2. Create an Account:

    • Enter the required information and set a secure password.
    • Enable two-factor authentication (2FA) using Google Authenticator and other security settings to add an extra layer of security to your account.
  3. Verify Your Identity:

  • Complete the Know-Your-Customer (KYC) verification process, which may vary based on your nationality and region.
  1. Add a Payment Method:

    • Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method.
  2. Buy Ardor (ARDR):

    • If the exchange supports fiat-to-ARDR purchases, you can buy Ardor directly using your local currency.
    • Alternatively, you can first purchase a popular cryptocurrency like USDT and then exchange it for Ardor (ARDR).
  3. Transfer and Store:

  • Transfer your purchased Ardor (ARDR) tokens to a secure wallet, such as a non-custodial wallet like KuCoin Wallet or MetaMask, to store and manage your assets.
Alternative Methods
  • Crypto Wallets:

    • You can also buy Ardor (ARDR) directly through a crypto wallet that supports Ardor purchases, such as Kriptomat.
    • Download the wallet application, create a new wallet address, and purchase Ardor using a supported payment method.
  • Decentralized Exchanges (DEXs):

    • Use a DEX like Uniswap to buy and trade Ardor (ARDR) tokens using self-executing smart contracts.

Remember to always follow security best practices and use reputable platforms to ensure the safety of your assets.

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History of Ardor

Ardor (ARDR) is a cryptocurrency developed by Jelurida, a private company founded in 2016. The project is often referred to as "Nxt 2.0" due to its roots in the Nxt blockchain, which was created in 2013. Nxt was one of the first blockchain platforms to use Proof-of-Stake (PoS) as its consensus mechanism and was known for its open-source nature and ability to support various functions such as blockchain voting, trading, and asset creation.

Ardor was designed to build upon the successes of Nxt, addressing issues like security, speed, scalability, and bloat. It achieves this through its unique parent-child chain architecture, where the main Ardor chain secures and processes transactions for multiple child chains. This design allows for scalability and prevents blockchain bloat by pruning off unnecessary data from the child chains.

The ARDR token is the consensus token that secures the entire Ardor network and is used for transactions on the main chain. It operates on a Proof-of-Stake mechanism, where users can "forge" new blocks and earn transaction fees based on their ARDR balance.

Ardor has been listed on several major exchanges, including Binance, Bittrex, and Huobi, and has seen significant price fluctuations over time, including a notable spike in January 2018. The project has also launched its first child chain, Ignis, which serves as a proof of concept and demonstrates the capabilities of the Ardor platform.

Despite its promising features, Ardor faces stiff competition from other blockchain development platforms and needs to generate more buzz and excitement to gain widespread adoption and partnerships.

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How Ardor works

Ardor (ARDR) is a cryptocurrency that operates on a multichain blockchain platform. Here's how it works:

Consensus Algorithm

Ardor uses a 100% proof-of-stake (PoS) consensus algorithm, which makes it energy-efficient and not dependent on expensive hardware. This protocol allows the platform to be suitable for both public and private implementations, making it accessible on any desktop or mobile device.

Parent-Child Chain Architecture

Ardor's unique architecture separates security from functionality by creating multiple chains. The main Ardor chain is a slimmed-down blockchain built for speed and security, while child chains hold all the functionality and customizability supported on Nxt. Child chains are separate, customizable "blockchains" within the Ardor ecosystem, each with its own native tokens and built-in features necessary for their specific use case.

Child Chain Transactions

Child chain transactions are safely removed ("pruned") from the system once they are no longer needed, and their hashes are included in the parent chain. This architecture allows child chains to be implemented quickly, in a matter of minutes or hours, as they derive their security and decentralization from the main chain.

Bundlers and Transaction Fees

Ardor solves the native token problem by using a system of bundlers. These are network nodes that accept fees paid in the child chain token and then convert the payments to ARDR to pay the Ardor forgers. This means that end users can initiate transactions in a child token and pay transaction fees in the child token, making it more user-friendly.

Interoperability and Decentralized Exchange

All child chains are interconnected, and their native tokens can be traded on the built-in fully decentralized coin exchange. Additionally, many objects such as assets, account properties, currencies, and more are "global" for the whole ecosystem and can be accessed from any child chain.

Security and Scalability

Ardor's architecture is designed to be scalable and solves many existing industry problems such as blockchain bloat, single token dependency, and the need for easily customizable-yet-compatible blockchain solutions. The security of the whole network is provided by the parent Ardor chain, ensuring that the platform is secure and reliable.

Overall, Ardor's innovative architecture and features make it a robust and scalable blockchain platform that can support a wide range of applications and use cases.

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Ardor's strengths

The token Ardor (ARDR) has several strengths:

  1. Energy Efficiency: Ardor uses a 100% pure proof-of-stake consensus algorithm, which significantly reduces the hardware requirements for securing the network, making it energy efficient.

  2. Scalability: Ardor's unique parent-child chain architecture allows for scalability by pruning off unnecessary child chain data once they are included in the permissionless Ardor parent chain, preventing the "bloat" of the network.

  3. Customizability: Ardor offers customizable child chains that come ready to use for various business applications, making it a great option for companies looking to leverage blockchain without the resources to dedicate to custom development.

  1. Interoperability: All child chains are connected and share the same source code, ensuring ecosystem interoperability that allows child chain token trading to one another in a fully decentralized way and transactions on one child chain to access data or entities on another.

  2. Security: The Ardor main chain provides transaction security and proof-of-stake consensus validation, ensuring the integrity of the network.

  3. No New Tokens Created: Since Ardor uses proof of stake, no new ARDR tokens are created, which theoretically increases the value of ARDR.

These strengths make Ardor a robust and versatile blockchain platform suitable for various applications.

Ardor's risks

Ardor (ARDR) is considered a relatively low-risk investment, with a risk score indicating that it is a moderate risk investment. This assessment is based on various market trends and indicators, including historical data, market sentiment, and regulatory news. While the potential for high returns exists, there is also the potential for significant losses. Factors such as overall demand and supply, news and developments related to Ardor and the wider crypto market, market sentiment, regulatory news, technological advancements, and macroeconomic trends all influence Ardor's price and contribute to its financial risks.

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Did Ardor raise funds?

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Ardor’s team

  • Lior Yaffe: Co-founder and Lead Developer of Ardor, also the dev lead on other Jelurida projects, including NXT. He is a key figure in the technical development of Ardor and its broader vision.
  • Jelurida Team: The private company behind Ardor, Nxt, and Ignis, comprising experienced software engineers and a legal expert. They have been working on blockchain technology since 2013 and are responsible for the development and maintenance of Ardor.
  • Steve: A writer for Coin Bureau, providing reviews and insights on cryptocurrencies like Ardor. He highlights the importance of the Ardor team's work in solving problems of security, speed, scalability, and bloat.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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