Review on Ardor by Benaiah A. Akinlade
Ardor is gradually fulfilling its Roadmap pledges on the backbone of the Jelurida software company
Ardor was launched in 2018 by Jelurida blockchain software company that develops and maintains several platforms as a decentralized open-sourced multi chain platform. This platform was uniquely designed to solve the incessant problems associated with existing blockchain technology in order to ensure scalability. It utilises a 100 percent pure PoS consensus algorithm on the Nxt blockchain. This algorithm makes the Ardor platform energy efficient and thereby reducing the hardware requirements to secure the network.
Ardor’s uses a hierarchical structured design of a parent-child chain system relationship, which includes Ignis, AEUR, Bitswift, Ardorgate, Max Property Group, and TRIFFIC. Ardor’s network security and transaction processing is provided by the parent chain while the business functionality is present on the child chains. All child chains have the same source code and this makes the Ardor platform interoperable with a bundling system on the Ardor parent chain that allows the inclusion of all the transactions of the child chains
The Ardor parent chain token is ARDR, which is a token used for creation of new blocks and network consensus. This creation of new blocks is known as forging. ARDR forgers are paid their transaction fees from the blocks they successfully forged.
Ardor token currently trades at USD 0.04684234 with a circulating supply of 1,000,000,000 coins and a maximum supply of 999,000,000 coins. The most active market currently trading ARDR is Upbit. The Ardor token can be securely held on Ledger Wallet.
Ardor is still relatively unknown, but I am encouraged by the platform's efforts in ensuring that all the dictates of its Roadmap is achieved. This is an encouraging feat as far as I am concerned.
Pros
- Ardor’s child chain has its own native tokens that can be used for paying transaction fees.
- Ardor has well detailed Roadmap which has been followed and satisfied to the letter till date
- There is an encouraging news of new child chains to be added to the Ardor platform
- There is an encouraging reward for forgers of new blocks
Cons
- The Ardor token has a low trading value
- Ardor has not gained enough popularity to be a big game player in the cryptospace
