Ana Sullivan

The Ardor Project is Impossible to Understand

by Ana Sullivan February 5, 2018

Ardor (ARDR) is a blockchain-as-a-service platform which gives people the opportunity to utіlіѕе the blосkсhаіn tесhnоlоgу оf Nxt thrоugh thе use of сhіld сhаіnѕ. A child chain is a “light” blockchain that can be customized to a certain extent and it is designed to allow easy self-deploy for your own blockchain. Ardor was created by Jelurida, the company of the core development team of Nxt, with the main idea to provide low-cost, low-risk, fast platform which, in turn, enables organizations to work together. In other words, Ardor offers to build blockchains for other companies as a service.

The NXT technology is one of the first that were created after Bitcoin and Ardor is its main chain, aka parent chain, which is responsible for providing security in a global level for the child chains as well as processing their transactions and processing power for them. Ardor`s first child chain is Ignis which relies on its IGNIS tokens for its operations. The Ignis initial coin offering was conducted from August 5th, 2017 until November 4th, 2017 and it was able to generate 167 million NXT, which were converted to Bitcoin, Ardor, and fiat.

The current price of ARDR is $0.389079 after a huge decrease (on January 12th, the price of the coin was $2.03 USD). There are 998,999,495 ARDR coins which are all in circulation which gives Ardor a market cap of $388,689,725 USD.

A lot of people find this project very confusing, which, let`s be fair, it is. Basically, Ardor is the offshoot of Nxt, and Ignis is a child chain of Ardor. All over the forums where Ardor is discussed, people are asking someone to explain everything to them as if they are five years old. This, of course, doesn’t say anything in particular about the project but it should say something to you. If you are not quite aware of how all of this works and you don’t understand it completely, experts` advice is to stay away from it. This is a simple rule and yet, many fail to follow it.

Also, one of the main problems with Ardor is the warning Jelurida make, namely that the Nxt system features allow for the creation of fake coin, which is very surprising since it is general knowledge that cryptocurrencies cannot be forged. But in the case of the Nxt network, fake tokens can mimic legitimate ones and confuse the user. In addition, one of the big concerns when it comes to investing in tokens is how convenient and easy these tokens are for holding and controlling. In this case, storing and holdings Ardor or Ignis tokens is a technologically involved process. First, you need a Nxt wallet and then you need to wait for the Ardor snapshot to move into another holding structure. As a result, Ardor strikes us as inconvenient. Of course, there is always a possibility for you to store your tokens of Bittrex or Poloniex, provided that you accept all the potential risks, which are many.

Trading with cryptocurrencies of all kinds is an extremely dangerous business not only because of the lack of clarifying information and the volatility of the prices but also because scam coins and fake projects are not something made up by skeptics. There are plenty of real cases to back this statement up. There is a high chance that you invest your money and then not only don’t make a profit but also lose everything you invested in the first place.



Comments 13

1. Guest
February 14, 2018, 04:34PM

Quotes I'm a builder with no IT back ground what so ever and I easily purchased my Ardor through bittrex and sent them to my ardor wallet no problem. Now I am forging with a PI through a lease wallet which was easy to set up and is safe for my precious Ardors.

I don't find this project confusing at all so If you do
that it slightly worrying given you a trying to write about it.

2. Guest
February 09, 2018, 02:05AM

Quotes This is a very poorly written article, misconceived and clearly, not much research has gone into this. In fact, the Ardor wallet and platform is one of the most sophisticated and simple wallets available, and is completely functional. The emphasis on Nxt is unnecessary, as Ardor is a token in its own right, independent of Nxt. The snapshot was a one off event to distribute the Ardor asset held on the Nxt blockchain into the respective Ardor wallet on the Ardor mainnet. Pretty simple really. Sorry mate you're out of your depth writing these sorts of articles.

3. Guest
February 08, 2018, 03:00AM

Quotes Great! If Ardor is difficult to understand then Ethereum and Erc20 Tokens are almost impossible to be used. Token, assets and monetary system are integrated in the NXT and ARDOR official wallets from the very beginning.

4. Guest
February 06, 2018, 05:12PM

Quotes Sorry Sullivan, but do you know where you are writing about? Maybe you should choose another subject to write about, or stop writing at all...

5. Guest
February 06, 2018, 11:02AM

Quotes I have never seen any article like this. Plenty of nonsenses.. Are you really convinced of it? Incredible...
Read (only) a bit after write, and don't be troll...
RubenBC

6. Guest
February 06, 2018, 10:56AM

Quotes This article should not have been published ...

7. Guest
February 06, 2018, 10:45AM

Quotes THIS ARTICLE IS IMPOSSIBLE TO UNDERSTAND ;) Actually, this is a big lie > "...First, you need a Nxt wallet and then you need to wait for the Ardor snapshot to move into another holding structure..."

8. Guest
February 06, 2018, 10:18AM

Quotes This is a very very confusing article, I must say.

Fake-coins? Haha, what's that?

Storing and holding is a... "technologically involved process"?
You download the software, you click an icon on your desktop and it opens. There's your wallet.

Over the years, this strange and potentially dangerous phenomenon, cryptocurrency, like Bitcoin, has evolved into more than just being digital coins. The blockchain has features now. Use cases. You can send NXT and IGNIS to others, sure. But no, NXT is not a child chain of Ardor. You can also send messages. Set up polls. Vote in them. You can issue crowdfunding tokens, and tokens representing shares. Anyone can trade them - unless you chose to only let KYC-tagged accounts trade them. You can pay a dividend to all of your shareholders with 1 click. This has never been impossible for me to understand or use, and I am not some developer-type, I just use the downloaded software.

But your article confuses me a lot.

9. Guest
February 06, 2018, 07:04AM

Quotes Incredibly bad article: no research has been done - this information is misleading!
The snapshot has been done and Ardor has been up and running for over a month now!

10. Guest
February 05, 2018, 02:39PM

Quotes poor article, sorry Sullivan
All pertinent information about Ardor platform is available at www.jelurida.com

11. Guest
February 05, 2018, 09:06AM

Quotes I’m sorry, but this is really out of track. The solution is complex but from this article it looks like something to stay away from when in the end it’s one of the most advanced and legit products in a space of scammers.
Please review your article, it is really bad information.

12. Guest
February 05, 2018, 08:35AM

Quotes Its not possible to create "fake-coins". You propably mean the possibility that two Assets can have the same name. This is unfortunately necessary to prevent Asset-Spams which lock all common names. There is an Asset-ID with which an asset can be uniquely identified.

Your article could be interpreted as meaning that NXT coins can be created out of nothing. That is not true and should be mentioned.

13. Guest
February 05, 2018, 08:22AM

Quotes Thanks for evaluating the Ardor and NXt products, but some of the information is outdated.

You say that first a user needs a NXT wallet and must wait for the snapshot to move to another holding structure. This article is written February 5 and that process is in the past for most users as the new platform was launched January 1. There has been no waiting for a snapshot since December 28. New users to the Ardor Platform need not have any involvement with NXT to enter the client / wallet.

As a member of the Ardor Nxt community, I am aware of the need to simplify the explanation of our platforms, but misinformation like this only complicates the understanding.

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