Ardor is a brand new innovation from Jelurida; the team behind the Nxt blockchain. It will allow people to have a greater level of control over their cryptocurrency transactions and is an exciting development within the growing world of online currencies.
According to the Jelurida website, “Ardor is an evolution of the Nxt software that addresses issues of blockchain bloat, scalability and versatility. Ardor is being designed as a complete ecosystem where multiple players can interact with each other without needing to go outside the platform.”
The technology that is being developed will allow its users to create their very own blockchains. This “Child-Chain” platform allows its users to create their own blockchains, with the security element still being handled by the main blockchain.
So how does Ardor work? When you create a child-chain, you will have access to the Nxt blockchain technology. Allowing safe and fast online transactions, whether you are an organisation, a business or an independent project; Ardor can work for you. When using your child-chain, any fees accrued from transactions will use the token that is native to the child-chain. Some of the other features that will be available when you create a child-chain will be data storage. You will be able to securely store data via the blockchain; you can also choose whether it is private or public.
On top of this you will also be able to send encrypted messages and files, so there is no need for a centralised system. It will also allow you to create a marketplace for your business, where anyone can buy or sell digital or physical products. With Ardor you’ll gave greater control over your entire account, with the ability to restrict access or even prohibit transactions. With the security of the internet forever in question, Ardor allows you to have a higher level of control over your digital financial actions.
According to their website, “The Ardor Main Chain will be where all Ardor tokens (ARDR) will reside. It will serve as the system that secures all child chains and processes their transactions. While some transactions will be possible on the Main Chain, such as exchanging ARDR from one account to the other, most features will be unavailable on the chain itself in order to improve its performance and reduce blockchain bloat. Because it is 100% Proof-of-Stake, no additional processing will be needed for mining as no new tokens will be created.”
As the financial world moves more and more online, solutions for secure digital currencies will become even more necessary. Ardor is an innovative leap forward with their new technological advances and eyes to the future. By having the security of the Ardor main blockchain; creating a child-chain to work for your needs is surely the step forward for many people looking for new ways of securing their online financial activities.
Take a look for yourself and visit their website and see what Ardor can do for you.