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What Is Ardor ?
Ardor is decentralized cryptocurrency network built on NXT 1.0 crypto that offers blockchain as a service in other to get everybody on board on the use of blockchain. This is to remove the barrier on how to get started with blockchain. Ardor is known for working with two blockchains namely the main blockchain and the child blockchain. Ardor is also being known for its’ ability to solve scalability problem by separating transactions and data based on the ones that affect security and the ones that do not. Those that do not affect security are moved to child chains.
Anonymous and secure voting is now a feature in Ardor just as it is NXT platform. Another interesting feature of Ardor network is the phased transactions, which means, users can set numerous conditions before a transaction is executed.
Ardor uses Proof of Stake(PoS) consensus mechanism exactly like NXT. With PoS, there is no heavy and time-consuming mining involved; rather coins are forged.
Ardor was launched in April 2017. Telluride BV developed Ardor NXT Apps and its’ blockchain technology.
Ardor is founded by two seasoned developers namely Jean-Luc and Lior Yaffe.
We still have other people who are working on the scene.
Practical Uses of Ardor
It offers both blockchain and child chain services to users.
It offers a trading platform for businesses, start-ups, banks, and governments.
It offers exchange services within its’ ecosystem.
Due to its’ scalability, various Apps can be developed from its’ blockchain.
Mining of Ardor
If you have the required hardware, you can mine bitcoin even if you are not a miner, but in Ardor, mining is virtual and can also be forged. Anywhere you go, you can mine with the lesser computer. There are different ways one can mine Ardor such as cloud mining, mining pool, etc. For cloud mining, all you need to do is to connect to the data center and start mining. The good thing about this is that you can mine from anywhere and you don’t need a physical hardware to mine.
For mining pool, all you need to do is to join a mining group, and if that team solves a computational problem, blocks are added to the blockchain, they get the reward, and you get a share of it based on your contribution.
PoW algorithm-SHA-256 is used for mining. Which utilizes a lot of computational power.
For mining, run software, get your wallet ready and be the first to solve a cryptographic problem and you get your reward after the new blocks have been added to the blockchain.Mining is said to be successful when all the transactions are recorded in the blockchain, and the new blocks are added to the blockchain.
For forging, click on forging at the official website and follow the instructions.
Notes For Investors
Ardor proves to be a good investment considering its’ superlative performance in the market cap for both ADR and NXT. It is still below one dollar and a volume cap $15m.
Analysts believe it is a cryptocurrency for the future.
Invest no matter, how little, and you will not regret it.
Cryptocurrency investment is speculative, and it involves unquantifiable risks – the market is full of uncertainty, susceptible to attack and capital loss, and sensitive to secondary issues, time may do not permit to mention here.
Seek advice before investing.