Ardor is a blockchain-as-a-service platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. Since all processing will be done on the Ardor main chain, child chain creators won’t need to worry about common issues when creating a blockchain as well as securing it with enough nodes. Child chains will be able to utilize features currently seen in Nxt such as decentralized phasing, voting, and trading, as well as be able to interact with other child chains on the platform, including IGNIS, the first child chain to be launched.
Bas Wisselink, a founding member of The Nxt Foundation wrote this about a few of the features coming with the new Ardor release:
1. Offering Blockchain as a Service – Ardor will open blockchain development to organizations and individuals across the world. The high barriers to getting started with blockchain are about to vanish.
2. Manageable Blockchain Size – 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.
3. A Decentralized Asset Exchange – 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.
4. Decentralized Voting and Governance Systems – 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.
5. Phased Transactions – 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.