Ardor Cryptocurrency (ARDR) Coin is a blockchain-as-a-service platform that will allow people to utilize the blockchain technology of NXT through the use of child chains. Since all processing will be done on the Ardor Cryptocurrency main chain, child chain creators won’t need to worry about common issues when creating a blockchain as well as securing it with enough nodes. Child chains will be able to utilize features currently seen in Nxt such as decentralized phasing, voting, and trading, as well as be able to interact with other child chains on the platform, including IGNIS, the first child chain to be launched.
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Amidst the rush of multiple clones of Bitcoin being created in 2013, Nxt was introduced as a second-generation cryptocurrency, expanding the use of blockchain beyond supporting a currency and a simple transfer of value. Nxt is the first blockchain protocol to use an entirely Proof-of-Stake instead of Proof-of-Work consen-sus mechanism, so its power consumption and hardware requirements are very low. Ever since the launch, the platform has been running securely with 100% uptime and has experienced no systematic failure. Actively used in production and in a state of constant development, the Nxt platform has been able to stand the test of time due to its advanced architecture and solid design. Being open source, it has also been subjected to multiple code reviews by independent experts from various backgrounds.
Implemented in Java, the leading industry standard language for corporate applications, the Nxt platform allows for fast prototyping and the rapid development of new features. Existing features include creating and trading assets, listing and buying of digital goods, creating polls with very flexible vote counting options, setting up conditional transaction execution, assigning properties to accounts, sending encrypted mes- sages, registering aliases, and many others. The relative ease with which such new functionality has been added regularly by the development team every few months during the last three years proves the well-designed and flexible architecture of the platform. In addition, the rich and comprehensive Nxt API which supports over 200 request types has allowed various projects to be built on top of Nxt.
Blockchain as a Service!
For the first time Ardor will make it possible to great your own child chains inside the Ardor ecosystem. Just think about all the possibilites of greating your own child chain and not just an asset or coin.
Just take a look at NXT. All the features that NXT has will also be available for the Ardor child chains:
Aliasing: Initiate transactions with easy names. All aliases will end with a period preceeding the name of the child chain.
Data Cloud: Store data securely right on the blockchain. This can be either public or private and is time stamped.
Account Control: Restrict access to an account or prohibit transactions without approval by multiple parties.
Monetary System: Create customizable monetary system tokens in addition to the child chain native token.
Secure Messaging: Send encrypted messages and files without a centralized system.
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.
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.
Summarizing Ardor: The final point
The Ardor test network is open. 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.