A new kind of cryptocurrency is coming on line that the company claims is easier to use than ethereum. It is brought out by Jelurida, the developers behind Nxt and will use technologies already online from Nxt cryptocurrency and blockchain.
This multi chain solution with a parent-child chain architecture is called Ardor
Nxt is undergoing a dramatic evolution. Research by Jelurida has led to Ardor, a platform that uses child chains and incorporates all of Nxt’s latest blockchain innovations while being backed by the core developers of Nxt.
The Ardor child chain created blockchain available to anyone including single users and complex fintech startups. Anyone can build a child chain and talk to the entirety of blockchain. Anyone can use blockchain easily and efficiently.
According to Nxt:
Ardor will open blockchain development to organizations and individuals across the world. The high barriers to getting started with blockchain are about to vanish.
Ardor will solve the problem of scalability by separating transactions and data that do not affect security from those that do, and moving all of those that don’t affect security onto child chains. The Ardor team will create the first child chain to house many Nxt 1.0 tools as well as future features. This small size also comes with short transaction times so processes need only a fraction of time compared to Bitcoin to execute functions.
Building off of the Asset Exchange on Nxt, Ardor will enable the ability to trade assets on any child chain for any of the child chain tokens. This allows child chains to interact with each other and opens up numerous opportunities for collaboration as well as allow cross chain asset trading, a long-requested feature within the Nxt ecosystem.
Ardor will be at the core of decentralized consensus in the future. Secure and anonymous voting will be an available feature on all child chains as it is on the Nxt platform.
Users can set multiple conditions before a transaction is executed, such as a minimum number of votes and a set amount of time. Like Nxt, Ardor will use Smart Transactions. With this, users will only need to submit the parameters necessary for the transaction and the ID of the functionality they want to use. The transaction process is also completely decentralized. No centralized server, service, or application, like Ethereum’s Oracle, is needed.
The tokens were distributed in October last year, though just as placeholder assets on Nxt. ARDR as an asset on Nxt will become ARDR as a coin on its own blockchain in early Q4 this year.
There is also more information available on the voting protocol found in the video here;
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