- General description
Blockchain-as-a-service platform which allows each project to have its own customizable child chain. Each child chain can opt to have all the funcionality of the Nxt blockchain, including simple smart contracts, digital assets, decentralized exchange, data storage capability. There is also additional optional functionality not available in Nxt. The main Ardor chain only has the function of taking care of secuirty, while all other functionality is done on the child chains. Transactions on the child chains are bundled before being sent to validate on the parent chain, and then pruned (archived) after some time, solving the blockchain bloat issue.The first smart contract platform driven by peer reviewed academic research. Its team consists of a global collective of renown expert researchers and programmers. It promises to be more scalable and secure than existing blockchains. It tries to find a balance between privacy, decentralization and regulation compliance, to make it appealing to both governments and citizens. It has a unique proof of stake protocol, governance and treasury system.
- Important differentiating features
Separation of accounting and computation into two layers - Settlement Layer and Computation Layer. This architecture allows:
- Won't have blockchain bloating, which is great for long-term scalability.
- Each project doesn't need to have its own nodes, only parent chain needs to have nodes.
- Ordinary user without coding knowledge can easily create a project, a digital asset, or a smart transaction.
- User can select from available templates and adjust the parameters to create smart contracts. These smart contracts cover important business applications, are easy to code, are safe due to simplicity.
- Each project can have a blockchain with customizable features, which include all features of Nxt plus some more.
- ICOs can be conducted on any child chain using the chain's main currency.
- Marketplace for digital and physical goods.
- Decentralized exchange: Coin Exchange, where users can trade tokens of different side chains.
- Transaction privacy because transactions can be conducted without the additional metadata.
- To upgrade the system more easily: updates may impact only the computational layer without endangering user balances or the transactional ability of the network.
- Smart contracts will be processed with a technique called formal verification.
- Is flexible and modular.
- All parts of code undergo an extensive peer review process by scientists and programmers in academia.
- Planned to scale vertically and horizontally: through use of multiple chains and multiple concurrent epochs.
- Treasury system
- Turing-complete? ?
- Achievable functionality ?
Smart Transactions with only a narrow set of pre-defined adjustable smart transaction templates.
Features from Nxt: Data storage system, Voting system, Alias System, Authentication System, Messaging system, m-of-n Multi-signature feature, Client plugins
Additional features not available in Nxt include:
Turing-complete smart contracts allow for any functionality
- Phasing, an ability to condition a transaction on an event like multisig, timelock, hashlock, votes. And ability to combine these conditions by using AND, OR, and NOT operators.
- Account Properties, which are used to associate arbitrary data with an account.
- Ardor provides a set of secure and tested building blocks of features for most use cases. These features can be accessed through API calls. WIth the use of external servers, one can build rich and complex smart contracts.
- Smart Contract languages or API
APIPlutus, inspired by Haskell. Allows for formal verification.
- Major weaknesses or concerns
- Smart contract functionality is rather limited
- Many design decisions are novel and very different from other blockchains. Nobody knows how well it will perfrom in real usage.
- The project is very ambitious and the roadmap is stretched far into the future, and its expected that the scope will change a lot in the future.
- Transactions per second capacity
- Consensus mechanism and security ?
Proof of Stake. The main chain secures transactions on all child chains.Proof of Stake algorithm called Ouroboros.
Time is broken into Epochs. Within each Epoch, or 20 minute block, there are ""slots"", blocks to be mined. An algorithm selects a slot leader for each slot to act as a consensus node. The slot leader then confirms the block and yields to the next randomly elected slot leader. All the block rewards are collected in a pool and are distributed to the slot leaders at the end of the epoch. The more Ada coins you have, the more likely you are to be elected. There's an option to delegate your stake to another node.
It's said that it's the only PoS protocol with mathematically proven security.
Proof of stake system will start working in Q2 of 2018.
- Economy ?
Users of all child chains have to pay a small transaction fee to the owners of Ardor tokens, who do forging, to process their transactions into blocks. Staking requires a node and a minimum of 1000 ARDR.
- Main currency ?
Ardor ($ARDR), used in the proof-of-stake consensus, providing security for all child chains. Each child chain has its own main currency, and transaction fees there are paid in it, not in ARDR.Ada ($ADA)
- Digital assets ?
Assets can be issued on any child chain, and are available for trading globally between all child chains. But there's an option to restrict an asset to only some chains.
Asset dividends can be paid in any of the child chain main currencies or assets.
Any token can be pegged to another currency, including to a fiat currency. This allows for stable coins on the platform.Yes. User-issued.
- Mainnet launch status
Mainnet live since Jan 1, 2018Mainnet live since September 29
- Major upcoming development milestones
- Project history highlights
Project was announced in 2016.Project initiated in 2015
- Language in which the platform is written
JavaHaskell, a programming language with a high degree of fault tolerance
- Is blockchain public or private?
- Cross-chain interoperability ?
Between child chainsPlanned.
- Use of multiple blockchains within one system
Each project has its own child chain. The main chain only has the function of taking care of secuirty, while all other functionality is done on the child chains.Planned to use multiple blockchains for higher throughput
- Privacy ?
Coin shufflingYes. It will provide privacy to a user while keeping that user's transactions compliant with regulations.
- Decentralized exchange
Native functionality: Coin Exchange, where users can trade tokens of different side chains
- Governance ?
Treasury system. 25% of block rewards go to the treasury system. Holders of Ada coin vote on how to spend these funds.
- Team highlights
Being developed by a company called Jelurida
- Adoption facts, partnerships
Mistertango (bank), Blonde 2.0 (PR company), Tel Aviv Capital.
- Notable established projects on the platform
- Most similar to
Nxt. Comparison by creators of both
- Price per unit
- Circulating/ Total/ Max Supply
998999495/ 998999495/ 99899949525927070538/ 31112483745/ 45000000000