There is no denying that blockchain technology has been the most disruptive technology of the last decade. Not only is it responsible for having a direct impact on the world’s financial trends, but also its application in various industries has created a lot of value. However, continued blockchain usage has revealed a number of fundamental issues in payments, customization, and scalability. First and foremost, every cryptocurrency project that utilizes another blockchain needs to pay fees in native tokens, such as Ether for all Ethereum users.
Additionally, major blockchains may experience something known as “blockchain bloat”. The problem with blockchain bloat is that every time a new node wants to operate on the blockchain, they have to download the entire history of the blockchain in order to operate. Fortunately, a relatively-new crypto-project known as Ardor is making strides to provide several fundamental advantages over other blockchains; reducing blockchain bloat and providing multiple transactional tokens. Let’s take a look at what Ardor is and how exactly it works.
What is Ardor?
Ardor is a decentralized multi-chain blockchain platform that introduces a unique architectural design element to the field. It utilizes what is known as a “parent-child” architecture whereby the parent chain is responsible for the network security and transaction processing of the entire system. On the other hand, all the customizable, business-ready functionality is presented on the child chain. The Ardor team believes that this hybrid user permission capability is key towards improving mainstream adoption of blockchain technology.
The Ardor parent-child architecture has three fundamental advantages over all other blockchains. These advantages include:
- Child chain on the parent Ardor chain have their own native tokens which can be utilized to pay for all transaction fees as well as other ready-to-use features.
- System interoperability is maintained since all child chains are interconnected and share similar source codes. Therefore, tokens operating on one child chain can be traded for tokens operating on another child chain.
- Blockchain bloating is prevented by “pruning” unnecessary child chain data once it’s included in the Ardor parent chain.
Thanks to its “parent-chain” architecture, Ardor offers users the ability to create their own subsidiary chains within the Ardor ecosystem. Some of the key features of Ardor include:
- Proof-Of-Stake Consensus
Ardor utilizes the proof-of-stake consensus algorithm that enables the platform to be very energy-efficient. Therefore, unlike Bitcoin, the Ardor network does not require any expensive hardware.
- Multi-Chain Platform
Ardor’s child chains are separate and customizable. They come pre-loaded with all the built-in features necessary for various business applications. Additionally, these child chains have their own native tokens. Therefore, just about anyone can enrich the functionality, permissions, and custom parameters of any child chain.
- Child-Chain Interoperability
All child chains on the Ardor ecosystem are interconnected. Their respective native tokens can also be traded on the built-in Ardor decentralized coin exchange. Additionally, different objects such as currencies, assets, and account properties can be accessed from any child chain, globally.
The parent-child architecture enables child chain transactions that are no longer needed to be safely removed through a process known as “pruning”. Their hashes are included in the parent chain but they are removed from the child chain.
Jelurida is a Swiss-based blockchain software firm. It has been steadily building a blockchain ecosystem solution since 2013. The team at Jelurida has been developing new technological solutions to address some of the many challenges associated with emerging technologies. At the moment, Jelurida develops and maintains that Ardor, Ignis, and Nxt blockchains, which together form the Jelurida ecosystem. Ignis is a fully-featured, low-fee child chain on Ardor while Nxt is the universal framework for the ongoing blockchain technology transformation.
The Jerulida ecosystem has demonstrated several real-world applications thanks to its interoperable platform and proof-of-stake protocol. For starters, it has been involved in several Austrian-government funded projects such as Cycle4Value, TreeCycle, and HotCity. All these three projects rely on the PoS protocol and multi-chain platform of the Jelurida ecosystem. For instance, Cycle4Value utilizes the PoS protocol to reward its users for cycling. Such innovative decentralized projects help position Jelurida as the one-stop solution for issues surrounding legacy blockchains.
How to exchange ARDR to BTC or vice versa?
If you are wondering how to exchange the ARDR coin to BTC or vice versa, then you came to the right place. You can find the Ardor crypto on almost any major crypto-to-crypto exchange platform in the market today. However, if you are looking for a platform that can help you swap from the ARDR crypto to Bitcoin without any hassles, then we recommend Swapzone. The ARDR exchange process is fairly simple and we will let you know how to do it.
Step 1. Go to the official Swapzone website.
Step 2. On the homepage, you will see the “select pair” tab.
Step 3. In the “send” section, input the kind of coin that you wish to exchange for ARDR. In this case, it should be ETH. Enter the amount as well.
Step 4. In the “get up to” section, choose ARDR as the crypto that you want to receive.
Step 5. Swapzone will then provide you with a list of exchange rate offers from several exchange partners. There is an option to filter out the results. Take your time and go through the different offers.
Step 6. Once you’ve narrowed it down to an offer that you want, select it and click “exchange”. A new window will pop up requesting you to provide a few more additional details such as your wallet address and email address (optional).
Step 7. Once you are done, simply click “proceed to exchange” to continue onto the next step.
Step 8. This will trigger the transaction process to begin. Be a little patient as the process runs in the background.
Step 9. The exchange partner will process your transaction and you will receive ARDR tokens in your wallet address. Simply take a moment to rate the exchange partner and rate the experience.