Ardor

What is Ardor (ARDR)?

ARDR is the native token of Ardor, an open-source multi-chain blockchain platform. If you are interested in the current price of ARDR, check out the Ardor price chart above.

In fact, Ardor is a blockchain platform as a service (BaaS).. It offers an entire ecosystem for businesses that want to build blockchains without having to write code.

This ecosystem is created through Parent-child chain architecture. The main Ardor network, the so-called parent chainprovides all the necessary security and transaction processing functions. Child chainswhich can be either permissionless or permissioned, are separate, custom chains that companies can use to develop their own networks.

Child chains are equipped with all the capabilities needed for their specific use case, as well as their own tokens. In addition, all child chains are interconnected and have the same source code. Thus, numerous elements can be accessed from any child chain, including assets, account properties, currencies, etc.

Because of picking system used by Ardor, all child chain transactions are stored on the main Ardor chain. The merging system combines many transactions of a child chain into blocks of a parent chain. Once a child chain transaction is no longer required and its hashes are added to the parent chain, they can be safely removed from the system.

To protect the system, Ardor uses fake Proof-of-Stake consensus mechanism. Users must stake ARDR tokens to become forgers (validators). Forgers have to check and create new blocks. For this, they receive rewards in the form of transaction fees from the blocks they create. However, no new ARDR coins are created.

The project was launched on January 1, 2018. On that day, the price of Ardor was announced at around $1.60. The asset grew rapidly in the first month, peaking at $2.55 within two weeks. However, this was followed by a period of steady decline. The ARDR token has completed its first year with its value dropping to $0.05.

Ardor saw a slight recovery in 2021, especially when sentiment in the crypto market was generally bullish. However, the ARDR price did not rise above the $1 threshold that year, peaking at $0.50 in April.

Founders of Ardor

Ardor was developed by Jerulida, which develops software for blockchains. The company’s goal is to help various businesses integrate blockchain technology into their initiatives. Designing, building, and deploying private, permissioned, or hybrid applications on open platforms is made easier with Jerulinda. Other Jerulida initiatives related to the Ardor project include: Nxt and Ignis.

NXT Network

Nxt is open source blockchain platform developed using Java. The network is powered by NXT tokens, which are used to pay transaction fees. Nxt has been one of the pioneering blockchain platforms since its launch in 2013. It is the first blockchain platform to use pure blockchain. PoS Consensus Mechanism and launch a fully decentralized crypto exchange. Nxt software serves as the comprehensive foundation for the evolving distributed ledger technology. Its modular design greatly simplifies blockchain adoption as it can be extended to any public or private use case.

Ignis Network

Ignis, Ardor main child chain, is an important component of the Ardor network. It is fully featured, permissionless, and suitable for regular transactions at a reasonable price. Although the security of the entire network is ensured by the parent chain, all child chains are actually developed on Ignis.

Fully decentralized asset exchange, marketplace, data cloud, conditional transaction execution, voting, monetary system and other functions are among the features of Ignis.

Additionally, any operations (such as issuing assets or controlling accounts and assets) that affect global objects (such as accounts or assets) of the entire Ardor network are performed on the Ignis child chain by default.

Purpose of ARDR coins

ARDR coin is basically PoS consensus token, which is necessary to participate in the consensus mechanism. It is used to reward counterfeiters for their participation. However, Ardor tokens can also be used for payment processing fee Ardor child chains.

If you are thinking about purchasing Ardor tokens, keep in mind that the price of ARDR is subject to change. This is due to broader cryptocurrency market trends affecting altcoins such as Ardor.

Tokenomics of ARDR coins

The maximum supply of Ardor coins is 998,999,495 ARDR. No new ARDR coin will ever be created. Therefore, this asset is deflationary. As supply becomes increasingly scarce, traders can expect Ardor’s price to rise.

There have been no ICOs or other types of offerings for ARDR coins as they have been distributed among NXT token holders. The amount of ARDR tokens they received depended on the NXT balance they held during a three-month period in 2016.