What Is ARDOR CryptoCurrency?
Ardor is an open-source, permissioned blockchain-as-a-service platform written in Java and launched by Amsterdam-based Jelurida on 01 January 2018. It represents the company’s second iteration of NXT, a cryptocurrency widely respected for being the first to secure its blockchain through Proof of Stake – eliminating the need for energy intensive “mining.” Ardor continues NXT’s 5-year legacy by tackling “blockchain bloat,” an issue that has brought early cryptocurrency projects to a near standstill during times of high activity.
Jelurida decided to separate the functionalities of NXT into two separate buckets – security and advanced functions. From there, they restructured the blockchain almost as a key ring. Ardor sits at the center as the “parent chain” – and it is responsible solely for the security and validation of all transactions across the “child chains” beneath it. The advanced functionalities and built-in smart transactions (akin to pre-tested, securely coded, and instantly deployable smart contracts) of NXT were cloned into Ardor’s first child chain, Ignis. Public users can now put together transactions on the Ignis child chain, and then submit data for validation by the Ardor parent chain. At the end of 2018, pruning of child chain transactions will begin to occur. The ongoing development of this ecosystem is funded by the more than $15 million of funds raised by Jelurida in their 2017 ICO.
Cloning and customization of the Ignis source code is an option for businesses and developers after paying licensing fees to Jelurida. For example, the launch of the AEUR child chain, a euro-pegged asset provided through ArdorGate and Mistertango Bank, occurred in February 2018.
What Is ARDOR CryptoCurrency Conclusion
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