Blockchain Service Providing Infrastructures for the Creation of Child Blockchains.
Ardor is a Java-based ‘blockchain-as-a-service’ platform that is run by Jelurida and operates on the Nxt blockchain. The premise is that it allows for other platforms to launch their own transactional blockchain platforms off of their blockchain. In this way, it adopts the role of a ‘parent’ blockchain and acts as an intermediary for the blockchains that are interconnected with it, thereby rendering these platforms ‘child’ blockchains. Each child blockchain will be imprinted with a template that will allow the businesses to easily structure their blockchain to meet their specific requirements, such as creating their own tokens that are distinct from the parent chain’s token, performing transactions on their network, and the transfer of encrypted information.
However, all transactions that are carried out are implemented with the Ardor parent chain as an intermediary, in exchange for a minimal transaction fee. They have already launched an ICO for their first one child chain on their platform, IGNIS. The platform is designed to be accessible to both major institutions such as consortiums and financial institutions, as well as Small-to-Medium Enterprises (SMEs).
Ardor chose to operate on the NXT blockchain, due to its application of a purely on proof-of-stake mechanism that decreases the amount of electrical and hardware resources that would otherwise be required for implementation. For security purposes, all transactions on the child chains will be authenticated by all the nodes that are connected to the platform. Due to the inherent tendency of blockchains to become bloated as more and more data is created and stored on the chain, Ardor has developed a system whereby the parent chain will intermittently prune child chains, retaining only the data that is transaction-based while removing any extraneous data. However, if child chains or nodes wish to store all data, they do have the option to use child chain specific nodes to record and maintain all data. Furthermore, Ardor user accounts are valid across all child chains, while still allowing for the user to adopt a new alias on each child chain, thereby saving users time on data entry. Currently, child chains cannot be built without the assistance of Jelurida’s development team, although they do plan on changing this at a later stage.
Customizations offered include, but are not limited to:
- User account and alias creation,
- Transacting and storing trade assets,
- Creating custom tokens and assets with independent market value,
- Poll creation,
- Storing, encrypting and authenticating data,
- Crowdfunding, and
- Transferal of encrypted messages.
Token use and functionality
In order to ensure the integrity and security of the system, Ardor’s ARDR token is the only one that can be used for POS consensus, but is not required for transaction on the child chains. Rather, child chains are able to create and carry out transactions with their own tokens within the framework of their own platforms., although they do have the option to permit the exchange of fiat and crypto currencies, as well as tokens from other child chains, on their platforms. Additionally, if child chains would rather price their tokens according to inflation/deflation model, as opposed to a stand-pricing model, they will have the freedom to do so.
Ardor primary revenue sources:
- Child blockchains – In addition to transaction fees, platforms will also be charged for the use of Ardor’s infrastructure to create their blockchains. Further services after implementation, such as heavy customizations, maintenance and support will also incur charges.
- Consultation and creation fees: Businesses that are unsure of how to apply modifications and customizations can apply to Jerulida either for advice on how to do so, or can employ their services to build their platform on their behalf.
- Private Licensing: While generally open-sourced, there is an option to purchase a license that will allow for companies to privatize their blockchains. This will allow them to both take advantage of the infrastructure provided by Ardor, while being able to retain the autonomy and privacy over their source codes.
Ardor Platform’s Links & Social Channels
(as of May 2, 2018)
August 5 – November 4, 2017
1 JLDR = $0.0391 USD
Over $15 Mill USD
$21.6 Mill USD
1 ARDR = ~$0.41 USD
Current Market Cap
~$405.5 Million USD