Ardor is a blockchain platform that aims to address key challenges faced by existing cryptocurrencies, such as scalability and customization. It operates as a parent-child chain system, where the main Ardor chain (the parent chain) validates the transactions on multiple interconnected child chains. This design allows for increased transaction throughput and reduced bloat on the main chain, making the network more scalable.
The project was founded by Lior Yaffe and the Jelurida team, a group of blockchain developers well-versed in the NXT blockchain (which Ardor is built on). The initiation of the Ignis child chain marked the beginning of Ardor's live operations. Each child chain on the Ardor platform can have its own features, tokens, and rules, catering to a wide range of use cases without compromising the security and decentralization of the main chain.
Ardor is not the only project in the landscape striving to tackle the scalability issue, yet its design, focused on achieving a balance between scalability and security, makes it stand out on its uniqueness. This parent-child chain architecture significantly enhances the platform's scalability by allowing different services to have their dedicated child chains, interlinking back to the parent chain for security. Moreover, the platform supports the interoperability of child chains, fostering a modular and flexible approach to blockchain development.
Use Cases of the Ardor Blockchain
Ardor adopts a proof-of-stake (PoS) consensus mechanism, where holders of Ardor tokens (ARDR) can participate in the network's operation and earn rewards for securing the blockchain. Stakeholders can lease their Ardor balances to forging nodes, which are responsible for creating new blocks and reaching consensus on valid transactions. The light client architecture makes Ardor's blockchain more accessible, as users don't need to download the full blockchain to interact with the network. They can access the necessary information through lightweight, wallet-like applications.
It is particularly beneficial when creating and trading different child chains, each with various features while still relying on the security of the parent chain. By making the process of blockchain creation more accessible, Ardor opens up opportunities for businesses, organizations, and developers to experiment with blockchain technology in a cost-effective manner. They can focus on building the features and services that truly matter to them, leaving the underlying blockchain infrastructure to Ardor, which manages security and consensus for all interconnected chains.
Ardor introduced a concept called "Bundlers" that allows users to bundle multiple child chain transactions into a single transaction, improving efficiency and reducing blockchain bloat. This feature can be particularly useful in scenarios where a high volume of transactions needs to be executed. It provides an energy-efficient alternative to proof-of-work systems found in many other blockchains and has a more democratic distribution of block rewards since they are proportional to the amount of Ardor tokens staked.
Average fees on the Ardor network
The average fees on the Ardor Network are around 0.005 ARDR per transaction which is approximately $0.01. However, the transaction fee amount can vary depending on the network's load.
ARDR Token Wallets
Some of the most popular wallets for storing ARDR include:
- Official Ardor Wallet: The official Ardor wallet provided by Jelurida is a secure way to store ARDR tokens and interact with the Ardor platform.
- Ledger Nano S/X: The Ledger hardware wallets support ARDR, providing a secure offline storage option.
- Freewallet: Freewallet offers a mobile and desktop wallet for ARDR, making it easy to manage your tokens on the go.
- MyEtherWallet (MEW): While primarily an Ethereum wallet, MEW also supports ARDR tokens via the ERC-20 bridge, allowing users to store ARDR alongside their Ethereum tokens.
- Ardor Lite Wallet: A lightweight wallet solution that enables easy access to the Ardor network from any web-connected device.
