$ 0.05619 right now
Trade name: ARDR
Year of Foundation: 2016
What is Ardor coin?
Blockchain technology has become increasingly in demand as the business world has fully embraced it. Businesses, however, are a force to go through other investment in developing custom blockchain technology.
Ardor offers a solution by providing the blockchain infrastructure for businesses and institution so to leverage on their strengths in this regard. It is a growing field of contenders and the scalable blockchain-as-a-service for businesses.
In simple terms, it is a public platform based on blockchain that allows people to use the blockchain technology of Nxt using child chains.
Ardor users can create customizable, lighter versions or normal blockchain which are referred to as child chains. It has its crypto-coin known as ardor coin (ADR)
How does it work?
The coin works through the main blockchain as well as a child chain. Just like any other crypto platform, it is designed to be financed by transactions which are made at the child chain. After user finds the complete blockchain, they are rewarded from the transaction fees.
Ardor works in partnership with Nxt and all coins exist via Nxt when you start on the platform. The steps for working with ardor are;
– You purchase bitcoins on a trusted exchange.
– Create an account with Nxt and Purchase Nxt.
– Create an account with ardor, after logging into Nxt; transfer your coins into the Ardor system. A minimum of 1400coins is required.
– Start mining by completing all instructions by Ardor such as receiving the public keys.
Ardor mining uses proof-of-stake and mining pools is your best shot.
History of Ardor
To understand the history of Ardor and how it works, one needs to know Nxt because they are tied. Nxt started in 2013 and was among the very first ICOs to lounge a cryptocurrency token. It was created for experimentation to allow companies and other entities to implement there own blockchain solutions. This was to happen using API, creating new coins on top of Nxt blockchain, and copying/ editing the source code.
There were problems however which needed to be solved. These included use of native tokens for transaction fees, blockchain bloat, and customization issues.
Ardor was lounged to handle and solve these issues. It has the same feature as Nxt, but it changes how new blockchains get implemented. If you want to implement a new project, you must first create a child chain.
Ardor research phase was started in early 2016 which ended with its testnet lounging at the beginning of 2017. Ignis ICO lounged in the third quarter of 2017 followed by Ardor main net lounging in Q4
How to use Ardor
You are not required to buy Ardor with fiat currency. This means that you will first have to buy another currency like bitcoin or Ethereum which are the easiest. After this, you can trade those coins with ARDR on any trusted exchange.
Price chart for Ardor today
You can buy and sell ARDR on several platforms. The current price for one ARDR and ist history cost you can see on the graph below.