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Ardor Overview: What is the Ardor token, and why add ARDR to your portfolio?

By 7b Crypto Trading Wallet | 7b | 1 Dec 2022


Ardor is an open-source “blockchain-as-a-service” (BaaS) platform developed and maintained by Jelurida. Ardor’s unique architecture was designed from the beginning to overcome existing blockchain technology problems and ensure scalability.

According to its whitepaper, the advantages of Ardor over existing blockchain options are: “Reducing blockchain bloat, providing multiple transactional tokens, and hosting ready-to-use interconnected blockchains.”

But exactly how does Ardor work, and what is Ardor used for?

What is the ARDR token?

At the heart of this unique blockchain ecosystem is the Ardor cryptocurrency (ARDR), a Proof-of-Stake (PoS) token with a total supply of one billion.

The Ardor blockchain operates on a PoS (“Proof-of-Stake”) consensus mechanism, which does not require huge power consumption to validate transactions. Besides, no tokens are forged (mined) and new ARDR tokens will never be generated. Which would theoretically increase the value of ARDR.

At the time of writing, ARDR is valued at $0.073. Circulating supply of 998.9 billion gives a market capitalization of $74.1m The latest 24-hour trading volume was $1,689,188.

Now let’s look further into the technology that it powers.

The multi-chain system

Ardor’s “parent-child” architecture is one of the protocol’s unique elements. Ardor is the main chain of the whole network providing transaction security and PoS consensus validation.Ignis is an essential part of the Ardor platform – the main Ardor’s child chain - fully featured and permissionless, responsible for everyday transactions with low fees, as well as dApps and other child chains in the Ardor ecosystem. This multi-chain architecture is the key to Ardor’s scalability and flexibility in customization, through many build-in business-ready functionality.

This architecture has three fundamental advantages:

  • All child chains have their own native tokens, used as a unit of value, paying transaction fees, and a variety of ready-to-use features.
  • Scalability is achieved by pruning the unnecessary child chains data once they are included in the permissionless Ardor parent chain, preventing the “bloat” of the network.
  • All child chains are connected and share the same source code, ensuring the ecosystem interoperability, which allows child chain token trading to one another in a fully decentralized way and transactions on one child chain to access data or entities on another.

The Ardor blockchain platform was launched in January 2018, and it has been running without problems ever since. Ardor’s predecessor was NXT, the first blockchain to use a pure PoS consensus, launched in November 2013.
Anyone from individual developers to small and large businesses can use the Ardor blockchain platform to build permissionless or permissioned decentralized applications.

What’s next?

According to Ardor and Ignis Roadmap, work is underway on the following processes:

Q3 – Q4 2022

  • Ardor 3.0 mainnet
  • Continue the development/maintenance of gateway contracts for wrapping Ardor assets with EVM based tokens
  • Continuing Bridge Champ development and integration
  • Continue the development/maintenance of IPFS integration contract
  • Feature development as needed to support the end user application ecosystem

Research Projects Ideas we are exploring

  • Child-chain Subnets
  • Decentralized Pegged Tokens
  • Decentralized Liquidity Pools
  • Integration of HD account functionallity with contract runner and shuffling
  • Enhance contract runner security
  • Configurable market making contracts

ardor_for_your_project.jpg

FAQs

How many Ardor coins are there?

There are 998.9 billion ARDR in circulation, equal to the maximum supply. New ARDR will not be created through forging. That should theoretically increase the value of ARDR.

Is Ardor legit?

Ardor was created by experienced developers with previous expertise in the NXT blockchain. In Ardor whitepaper you can find all legal and technical specifics. 

Where can I buy Ardor coin?

You can buy Ardor with 0,0% crypto deposit right in the 7b Crypto Trading app. No hidden fees – only 0,1% per trade. Buy, sell and store ARDR with 7b.

How do you rate this article?

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