Ardor is a “full blockchain-as-a-service” (Full BaaS) multi-chain platform that evolved from the time-tested Nxt blockchain. The mainnet went live on 01 January 2018. The unique parent-child chain architecture of Ardor, with a single security chain providing energy-efficient proof of stake consensus for multiple transactional “child chains,” enables three fundamental advantages – reduced blockchain bloat, increased scalability, and the ability to launch and host ready-to-use interconnected blockchains.
ARDR tokens are used to secure the network through a process called, “forging.” Since all tokens have been distributed and the supply will never increase, “forging” nodes are rewarded from the transaction fees in each block of transactions.
The advanced features and functionality available on Nxt were implemented on the public and permissionless Ignis child chain – along with new features such as lightweight smart contracts, account and asset controls, and composite phased transactions. Businesses can launch dApps and services using the features available on Ignis such as issuing and trading digital assets and nonfungible tokens (NFTs), launching voting systems, and leveraging distributed cloud storage.
Alternatively, businesses and developers use the built-in KYC/AML features to run a complaint Security Token Offering (STO), pick from the features on Ignis, launch their own child chain, and simply plug in to the security provided by the decentralized Ardor parent chain’s network using the innovative “bundler” system.
Bundlers are nodes that collect transaction fees in the native child chain token, while paying with ARDR tokens to send the child chain transactions for validation on the parent chain. Five custom bundler templates are built-in to the platform to enable app and child chain owners to sponsor the transaction fees for only their intended end-users, eliminating the need for users to directly interface with the blockchain.