Today, few would argue that the popularity of cryptocurrencies and the demand for them is minimal or non-existent. Electronic money is at the peak of its rise. This process became especially active after users realized that virtual money is not just an option for earning money online and is not an easy means of payment. First of all, they are modern, promising platforms for systems consisting of unique developments. This is where their special value lies.
The Ardor project (ticker ARDR) is an innovative development created by the experts who gave life to the Nextcoin system earlier. In fact, Ardor is considered its next round of development, so there are many similarities between these projects.
Ardor is a blockchain-based ecosystem that offers optimized network scaling options and has convenient options for businesses.
Let’s take a closer look at the Ardor system, its cryptocurrency and familiarize ourselves with the conclusion of experts regarding the future of this project.
The attractiveness of Nextcoin smart contracts
Work on smart contract templates for smart contracts in Nextcoin had been underway for a long time, until the team saw fit to announce the creation of a complete set of such templates, suitable for use by individuals, as well as entire organizations and businesses. If the authors are to be believed, they offer a safer alternative to ETHereum contracts.
The main goal of the development was to create low-cost templates, maximally protected from the influence of human factor, unlike the same Efirium.
Mitchell Kiko, one of the leaders of the NXT project, made a witty comment about this. He compared his templates to Lego and Aether’s templates to clay. In the sense that in ETH all parts of the contract are first created from scratch and only then it comes to realization, i.e. defects and deficiencies are revealed in the process of the contract.
In Nextcoin, the approach is different. We have already ready “cubes” for building a contract, they are tested and do not carry any danger. All that remains is to assemble them correctly to achieve the goal.
Such specific, proven and secure smart transactions will be in demand among business representatives in a wide range of fields. The Ardor project was conceived and implemented to develop this topic.
A brief about the Ardor ecosystem
Earlier it was mentioned that Ardor’s new virtual development is based on the NXT platform, so their similarities should not be surprising. Like the Nextcoin system, it uses the PoS scheme in its work, which means that there are two important nuances:
all crypto-coins are issued at the start of the project (subsequent issuance is impossible);
The complexity of block formation is recalculated each time a new link appears in the blockchain.
But despite some similarities, the Ardor system clearly stands out for its innovative structure, which includes a huge number of custom Blockchains. They all rely on a central system Blockchain. Secondary (child) Blockchains are branch chains and transactions originating from them end up at the core of the structure, where they remain only for 24 hours and then move to an archive node. As a result, the main Blockchain is not overloaded with secondary chains, which contributes to Ardor’s scalability.
In other words, the primary purpose of the central Ardor blockchain is to ensure the safety and security of the network. It is not overloaded with functions and thus makes the network fast and “light”. The main functionality is provided by the child chains. Everything is available here for effective work – voting system, crypto exchange, monetary system and so on. The system provides for the interaction of secondary chains among themselves.
The first-place subsidiary chain is called Ignis and its coins have a similar name. Participants of this subsystem have access to the full advanced functionality of Nextcoin.
In the BaaS (blockchain-as-a-service) niche, there are many competing systems besides the project in question, but the creators of Ardor are confident that many users will switch to their “creation” because of its simplicity and elegance.
History of Ardor
Work on the creation of a crypto project was started in 2021. despite its relative youth, this crypto platform has already gained serious prestige not only among users and investors, but also among analysts and crypto market experts. The main goal of the authors of Ardor is to create a universal, convenient and simple cryptoplatform that facilitates the process of implementing various innovative ideas.
The authors of the project worked not only on making programmatic and structural improvements to the blockchain, but also on creating special tools that allow each third-party developer to create their own crypto projects. For this purpose, the creators of the platform introduced smart-contract technology. It is important to note that the smart contracts used in Ardor have nothing in common with the smart contracts of Efirium.
Due to the presence of a number of similar solutions, analysts, as well as the creators of Ardor often draw parallels between Ardor and Efirium, although both platforms have a number of significant differences from each other. For example, to create a smart contract in the Ethereum cryptocurrency network, users will need to make significant efforts to develop the program code, because any errors can lead to various disastrous results.
As for the Ardor crypto platform, it offers crypto network participants a number of ready-made software tools, which greatly simplifies the process of creating and subsequently using smart contracts. All tools are templates of ready-made solutions and to use them, you only need to complete their configuration, taking into account the specifics of specific tasks solved by the user.
The functions of the crypto-network can be used not only by programmers engaged in the creation of third-party projects, but also by ordinary users, which significantly expands the scope of use of smart contracts and technologies.