Known as ARDOR or ARDR, this innovative technology has represented a real hit in the market in terms of Blockchain technology. Its development has created an area of incredible opportunity for companies allowing the growth of these data chains easily.
ARDOR works through the concept of Childchain, which is basically a parallel Blockchain which connects to the main Blockchain. This allows you to develop your own data strings without the need to start from scratch. Also, this helps the development of additional chains linked to the main ones.
▶ What is ARDOR?
ARDR is not a technology as such, rather It is a cryptocurrency developed by Jelurida in 2016. Its development was done through Next, a reference token which has an exclusive technology on which ARDOR was based for its development.
This cryptocurrency has a unique platform which is known as the parent-child chain, that is, parent-child chains, which allow the development of parallel Blockchain chains connected to the main one. This in a much simpler way, without the need to start from scratch with programming and development.
By developing complementary parallel chains, it is possible to outsource different processes of the main chain. This has a lot of benefits for both the operator and the user, such as strengthening the main chain. It also has the benefit of being able to reduce the cost of operations by reducing energy consumption.
Each of the child chains are independent from the parent chain in terms of function and operation, which strengthens the chain's security. ARDOR has also added complementary functions and tools such as integration with Exchange AEUR and exchange for assets in the ARDOR network with 1 to 1 equivalence with EUR.
▶ What is the difference between ARDOR and BITCOIN?
It is common for users to confuse Bitcoin, the most famous cryptocurrency, with ARDOR and its Child Chain technology. Here we will tell you the 5 main differences between one and another cryptocurrency.
- The objective: Bitcoin's main objective is to act as a currency, that is, to serve as a form or means of payment. Instead, ARDOR is not only a payment method, it also has another, more ambitious goal. And is that seeks to bring companies and developers closer to Blockchain technology making it easier to develop your own chains.
- Scalability: One of the most significant problems of Bitcoin is the problem of scalability and size control that it has. Instead, ARDOR solves scalability and size issues by separating transactions creating the first Childchain with a reduced size.
- Asset Exchange: Thanks to its decentralized asset market, ARDOR allows you to easily trade assets from any other child chain. This is achieved by integrating Next's Asset Exchange technology using the software from this Nxt-based Peer to Peer exchange.
- Decentralized and government voting: In order to better regulate value, as well as reduce volatility and provide more confidence, Ardor involves a decentralized voting system. This anonymous and secure voting system is integrated into the Childchains which makes it a unique system in the world of cryptocurrencies.
- Conditional transactions: Finally, Ardor gives you the option to control transactions by setting conditions. For example, you can set the number of votes to carry out a transaction or you can determine a time period. This allows you to make the childchain adapt to your conditions.
▶ Technology behind
The main feature of the technology behind ARDOR is the way in which the Childchain chains are linked with the main Blockchain. This through NXT technology which guarantees the security of transactions and their speed.
The algorithm used by ARDOR is PoS which has its own Open Source code which is used to create the parallel data strings. In the same way, it works with a structure of intelligent transactions similar to the smart contracts used in Ethereum.
▶ Advantages of technology
- Low energy consumption: Thanks to the construction of chains parallel to the main Blockchain, the process of development, mining and management of transactions is simplified. This translates into lower energy consumption which makes ARDOR a much cleaner and greener cryptocurrency, as well as more accessible.
- More accessible development: Another advantage offered by the use of ARDOR technology in the development of Childchain parallel chains it is in the cost and complexity of developments. This is because, by creating bases to make chains, the cost is reduced, since you do not start from 0.
- Storage requirements: Being smaller in size and with a simplified code, the size of the Childchain chains is much more compact. This makes the storage requirements much lower. For businesses, this translates into less storage infrastructure.
- Security and control: Thanks to the fact that this ARDOR technology system incorporates a new voting democratization system, as well as nodes parallel to the main nodes, security becomes a plus. In this way, the risks of hacks are reduced, as well as greater stability is created.
▶ ARDOR Mining
Unlike Bitcoin and other cryptocurrencies, ARDOR cannot be mined, as the maximum number of units of this cryptocurrency have been released. This is an advantage and a disadvantage, a disadvantage because new units can no longer be generated and an advantage that becomes more exclusive.
▶ Where are the ARDOR units stored?
Because of its technology, ARDOR works slightly differently. Exclusive Wallets have been created to store ARDOR units which work both in the platform's own way and with collaborations. The most common are: ardor blockchain wallet, ardor lite wallet and Ardor freewallet App.