Ardor’s latest release V2.4, has made the Ardor platform into a major decentralized asset exchange that offers its users with an unlimited number of blockchain networks to trade between, while at the same time removing the requirement of keeping their funds on exchanges by implementing the world’s first BFT (Byzantine Fault Tolerance) consensus algorithm, known as the Ardor main chain based on the original Proof-of-Stake (PoS) consensus algorithm called NXT.
What is Ardor?
Ardor is a scalable blockchain-as-a-service platform that allows people to utilize Nxt’s blockchain technology through the use of child chains. With Ardor, users can create their own blockchains, known as child chains, that will act as separate ledgers for their specific projects and tokens while still benefitting from all of Nxt’s core features. These features include asset issuance, voting and governance systems; decentralized trading; a built-in marketplace; and other blockchain conveniences.
What are child chains?
Ardor is unique in how it approaches blockchain bloat. Whereas some platforms attempt to avoid bloat by limiting their features, blockchains like Ardor embrace it. The platform uses child chains smaller blockchains with limited functionality and specific purposes to handle transactions. This approach solves two problems: First, it allows Ardor to stay lean and efficient; second, it gives users access to advanced blockchain technology without forcing them to use a more complicated platform. In other words, child chains make an asset exchange on Ardor possible without making its users jump through hoops or learn new skills or protocols. As long as you have enough ARDR (the token of the main chain), you can create your own child chain and make any kind of transaction you want!
What are bundlers and why should we care?
The bundler is responsible for assembling transactions into blocks, each with a single hash. Bundlers are selected based on their overall Ardor balance, age of their account and how many coins they've bonded (wrapped) to make transactions faster and cheaper than those without bonds. Each block in an asset exchange has a certain fee associated with it. If you'd like your transaction included in one of these blocks, you can pay that fee by bonding your ARDR or child chain tokens to a special address designated as a bundler address. This will cause your transaction to be included in any block created by that particular bundler at no additional cost. Note: all assets have their own unique bundle addresses, so there's no way for one asset's bundled transactions to steal fees from another's!
What's new in this release?
Ardor release v2.4 includes some major changes to both Nxt and Ardor, including important updates to: Customizable asset exchange, decentralized trading, blockchain pruning of old transactions, built-in encrypted messaging system, voting system for blockchain control and much more!
Flexible asset control
A centralized exchange is often criticized for having to play middleman and controlling assets after they are issued, as well as for being subject to regulatory intervention. Ardor’s new release takes out both these issues by giving users control over issued assets from start to finish, from initial distribution through trading and settlement. This functionality is available in Ardor on testnet now and will be released shortly on mainnet, opening up a new world of possibilities for decentralization enthusiasts and businesses alike.
Asset Royalties
One of Ardor’s major features is to enable businesses to use and create their own assets royalty-free, without paying any fees for doing so. Unlike other blockchain platforms, Ardor doesn’t tax users for using its platform or require third-party intermediaries to provide asset creation services. In fact, as an open source system, anyone can create an asset on Ardor free of charge. The only cost associated with creating an asset is in running a node to secure and maintain the network.
Conclusion
Ardor release v2.4 will be released in Q3 2018 and brings with it major decentralized asset exchange features that make Ardor one of if not THE major decentralized exchanges! With Local Markets, you can create unlimited pairings between any coin, using either BTC or ARDR as intermediary to avoid exchanging crypto before purchasing goods or services. You can even trade assets for digital tokens representing fiat currencies!
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2022-03-28 17:53:26
