16.10.2018 | 10:52
The Ardor Coin, also called ARDR for short, offers some novel blockchain technologies. The biggest achievement is the possibility to create several individual Childblockchains based on the main blockchain of Ardor. On these subchains you can also create your own childblockchains. Due to NxT technology and infinite scalability, the forecast looks pretty good.
Wikipedia describes Ardor for Bitcoin trader
Ardor is an open source platform and not a Bitcoin trader scam for blockchain-as-a-service written in Java and launched on 1 January 2018 by Amsterdam-based Jelurida . It represents the second iteration of the company NXT , a crypto currency that is widely respected as it is the first to secure its Bitcoin trader blockchain with Proof of Stake – eliminating the need for energy-intensive “mining”.
The crypto currency is the coin of the platform of the same name. This coin is used within the platform as a transaction fee and is passed on to the developers. Another function of the ARDR coin is “forging”. Forging serves a similar purpose to mining blockchains, which use the proof-of-work process to verify transactions. Instead of the PoW, Ar/dor uses the proof-of-stake method. Here a user only has to hold coins in his Ad/or Wallet so that the platform can generate new blocks. In return, the user will be credited a few fees. No new coins will be distributed, instead a fixed amount of 998,999,495 ARDR coins will circulate.
The main focus of the development are the blockchains. The programming is very different from most crypto currencies, because ARDR is based on the NxT software. This software makes it possible to create potentially infinite secondary blockchains, so-called “childchains”, in addition to a main blockchain. These can be created by anyone, the source code is open-source. On the childchains you can create your own coins, which then serve as sub currency for the Ardor crypto currency.
Ethereum code – What is this crypto currency?
The application spectrum of the Ethereum code is broad: they can be a decentralized asset exchange on which digital assets are traded. Marketplaces for all kinds of goods are conceivable. They can also be used as Ethereum code data storage, working in a similar way to a cloud.
The advantage of this system is that the Childblockchains do not load the main blockchain. Theoretically an infinite number of childchains can be created and used, the main chain does not become slower and more unstable. At the same time this system is also very safe, because the safety precautions of the childchain are integrated into the mainchain. This is guaranteed by the fact that the childchains have their own way of forging.
The “bundlers” collect all new transactions in the secondary chain and pass them on to the main chain after a certain period of time. This ensures that the computing power consumed by all the different chains does not degenerate. The “Pruning” also helps here. Only the last 1,440 blocks of a secondary chain are checked by the main chain. The rest is declared unchangeable and does not have to be processed further.
A childchain has already been created by the developers for testing purposes. It is called IGNIS and allows not only trading with assets but also voting on internal matters, multi-signature accounts, time-stamping of documents, a marketplace, aliases and encrypted messages.