Ardor (ARDR) Turns Out To Be Dark Horse Of 2018
The current state of the cryptocurrency market doesn’t make it any easier for would-be new investors. Even though the top two coins offer an appealing incentive to buy, good practice means that finding a decent coin with a low price entry level is better.
One such coin you can consider is Ardor (ARDR). You may have glanced at the market rankings and realized that it is one of the best-performing coins this week. It is an attractive investment.
Ardor is posting big gains for the second day in a row Wednesday even though the crypto market tumbled into the red yet again. As at the time of this writing, the ARDR coin is trading at $0.308965 apiece with a 19.4% growth.
A total of $54 million worth of ARDR was traded in the last 24 hours. It is ranked 44 with a market cap of $310 million USD.
Sometimes referred to as NXT 2.0, Ardor has one of the best blockchain-based solutions. Tipped to rise to be one of the top platforms, its performance over the last few days suggest you’d be making the right choice if you added it to your portfolio.
Yet you may want to know what it is that makes Ardor a unique project. Here is a glimpse of Ardor and its most important feature.
Ardor – what sets it apart from other BaaS projects?
Ardor (ARDR) is one of the projects run by the Jelurida Foundation, incidentally the first group to introduce proof of stake algorithm on the NXT project.
Ardor is a Blockchain-as-a-Service (BaaS) platform, designed to accommodate several use cases. Among its foremost applications is the building of other blockchain solutions on top of its network.
However, the platform also provides one of the easiest ways to create and run an ICO. With Ardor, a developer or investor can easily create a token and roll out an ICO. The use of Java also makes it accessible and simpler to code, as opposed to, let’s say Ethereum.
While not being able to compete with the EVM at the moment, Ardor unique technology puts it in prime position to be a fierce challenger in coming days. It’s that robust architecture that makes ARDR a good prospect going forward.
Ardor’s Child Chains
It’s Ardor’s technology and model of blockchain solutions that set it apart from other BaaS projects. The child chain architecture means that Ardor works as the main chain in a design called parent-child model.
What this essentially means is that anyone is able to build their own blockchain-based products, choosing between private and public solutions.
The difference between child chains and sidechains is that a child chain is a blockchain on its own, complete with its own native token while a side chain isn’t. For instance, Ignis was the first child chain to be launched on the Ardor platform.
The child chain is linked to the main chain via an interoperable model. This allows the parent chain (Ardor) to continue providing computational and security protocols.
One advantage that Ardor (ARDR), by way of the child chain, brings to your business involves ease of use. By providing out-of-the-box features, all a developer has to do is put the set together via an easy to follow interface.
Child Chains also play a big role in eliminating instances of network bloat. Whenever a transaction on the child chain gets validated, it is moved off the blockchain. This leaves the network decongested and thus faster.
Apart from that, the system is extremely energy efficient as they employ the use of proof-of-Stake consensus. Unlike Ethereum (still figuring out how to make PoS successful), Ardor already employs this mechanism. For system validators, running nodes becomes less demanding in terms of hardware and electricity.
Perhaps the biggest advantage this unique model has over other platforms that operate as BaaS revolves around the issue of fees. When you build your own blockchain on the Ardor platform, you and users on that chain can pay transaction fees using any of the tokens on the platform.
You don’t get restricted to one token currency like it is the case with Ethereum. This flexibility makes it suitable for the adoption of any number of ICOs and tokens, increasing usability.
There you have it, one factor that makes Ardor stand out and probably a good project with a great future. The parent/child model is a unique feature in the cryptocurrency industry and one I believe makes Ardor (ARDR) a better investment.