Learn more about Ardor, Ignis and Nxt
Ardor is a blockchain designed specifically for business applications.
The defining feature of Ardor is a uniquely flexible multiple blockchain system consisting of parent and child chains. It’s designed to let any business create and program its own blockchain solutions with a range of different functions.
To understand how it all works, the first thing to know is how the Nxt (NXT), Ardor (ARDR) and Ignis (IGNIS) blockchains and tokens tie together.
How to buy ARDR and NXT in India
All of the following exchanges let you buy or trade for both ARDR and NXT in India.
Both IGNIS and ARDR are needed to participate fully. Unless you bought into the ICO, the only way you could have got IGNIS before it began public trading was to buy NXT before the airdrop.
ARDR and NXT follow extremely similar price movements and are valued at almost identical amounts.
Ardor and Nxt went their own separate ways at the start of 2018.
The three blockchains
The platform has three different blockchains to know about, each of which has its own tokens.
|The blockchain||How it works||About the coin|
|Nxt (NXT)||Nxt is a system that aims to let individuals and organisations develop their own blockchains and tokens. It’s primarily designed to be a blockchain creation platform. The Ardor blockchain was held as a test platform on the Nxt blockchain, but on 1 January 2018 it was migrated to its own system.||NXT tokens are the native token of ARDR. Users who held NXT tokens at the time of the Ignis chain creation (on 28 December 2017) were credited 0.5 IGNIS per NXT.|
|Ardor (ARDR)||Ardor is a flexible blockchain based on Nxt but with a range of new features. The main feature is its ability to support a number of child chains, each of which can have its own distinct features. Its aim is to handle the network security and processing power for these child chains. Essentially it maintains and powers them.||ARDR is the native currency of Ardor. It’s a proof-of-stake token that handles security and processing on child chains and can also be traded with child chain tokens.|
|Ignis (IGNIS)||The first Ardor child chain. It’s designed to serve as the main entry point for Ardor. The Ignis chain is largely a replica of NXT. It’s designed to be the platform on which organisations create their own blockchain solutions to be serviced by the Ardor network. It’s mostly designed to offer unlimited possibilities and flexibility.||IGNIS is the native currency of Ignis.|
It’s required to use and access the features of Ardor.
Learn more about Ardor and Ignis
Ardor and Ignis are designed to work in tandem in order to allow businesses to create their own customisable blockchain solutions.
Essentially, an organisation can create an Ardor child blockchain that comes preloaded with a range of features, which can individually be disabled as needed.
It can also be easily added to through Java programming, letting organisations customise their own blockchains as desired.
Each child blockchain can create and use its own tokens. These might be kept inside that child blockchain for internal use only, such as if a company wants to create an employee rewards systems for internal use or can be pegged to fiat currencies or other tokens in order to give them weight.
Applications of this include the following:
- Making cross-border payments and money transfers
- Providing low-cost digital payment solutions
- Offering a more secure way of managing assets of all kinds
- Allowing for secure voting systems with flexible counting options
- Anything else an organisation can program into the blockchain
For security, power and ease of use, the Ardor blockchain aims to handle the security and processing on child blockchains.
What to consider before buying ARDR/IGNIS?
Traders may want to investigate Ardor to see if it is a simple, cost-effective way for a business to get a flexible blockchain solution that works for them.
Traders may find it difficult to predict the eventual value of the tokens since it’s largely dependent on what kind of uptake Ardor sees and what kinds of applications it ends up being used for.
It’s worth noting that many aspects of the Ardor blockchain are already proven. Nxt is now old by cryptocurrency standards – it was created back in 2013. It has proven its functionality and reliability since then, but traders should still investigate whether the Ardor and Ignis blockchains are likely to operate with similar reliability.