Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain.
Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. The first child chain on the Ardor platform will be Ignis for which an ongoing crowdsale has been launched.
These are some of the key features of Ardor which are note worthy:
- One parent chain with multiple child chains
- ARDR token is the pos token that is used in the proof-of-stake consensus, and thus provides security for all child chains. Child chain tokens are used as transactional units of value in the child chains.
- Asset Exchange, Monetary System, Aliases, Messaging, Digital Goods, Store, Voting System, Shuffling, Data, Cloud, Phasing, Account Control, Account Properties are all available on child chains with the option to restrict some features.
- Accounts are global across all child chains, and an account can have balances in each of the existing child chain coins, as well as in Ardor.
- Assets and MS currencies can be issued on any child chain, and are available for trading globally. Assets or MS currencies can optionally be restricted. And Asset dividends can be paid in any of the child chain coins.
- Coin Exchange, allows trading of child chain coins to each other, and also to the parent chain coin (ARDR).
- A transaction type to perform stock split or capital increase corporate actions.
- Crowdfunding & pruning feature is available on all child chains
- 256-bit transaction hashes (sha256 digests) are used instead as transaction identifiers.
- A new process, “bundling”, is used to group child chain transactions into a parent chain transaction (“child chain block”), which is then included in the parent chain.
- The new “Smart Phasing” feature allows the conditions for the execution of a phased transaction to be combined using AND, OR, and NOT Boolean operators, in a composite voting model.
- While the Ardor platform can have multiple child chains with similar features, only the Ignis child chain will be created with no restrictions.
Ardor Coin – Features
With NXT, Childchain users can have the following features. On the one hand, aliasing, which means that transactions can be carried out with names.
They replace wallet addresses. Each name has an expiration date. Furthermore, all data is saved in the blockchain. Users can decide whether this should be done publicly or privately. Data has a time stamp. Childchains users also have full control over their accounts. No approval from other parties is required. A messaging system is also available to users. Of course, it’s encrypted. This enables data and messages to be sent on a decentralised basis.
Furthermore, Coins can be mixed quickly and efficiently by CoinShuffling, i. e. the mixing of Coins to increase the private sphere. Decentralized polling for secure and anonymous voting can be held. This is the basis of the proof-of-stakes. Plug-ins can be integrated to enhance and customise functionality.