Ardor could become a hot project because of its solution for interoperability. Interoperability – a problem which makes a lot of many blockchain experts groan – is a plague widespread in the crypto world. To understand this problem, let’s get into what blockchains actually are. Blockchain are digital accounting ledgers that run on codes and algorithms. All of the functions are performed in a decentralized manner. There are general and specialized blockchains – focusing on one niche. The problem arises from the fact that each blockchain is a universe of its own and it cannot communicate with other blockchains.
A variety of projects have been launched which target the problem of interoperability, leading to the concept of sidechains. However, Ardor takes it a step further by introducing parent-child chains which has a couple of advantages over sidechains.
What is Ardor?
Ardor is a blockchain-as-a-service launched by Jelurida. It is a multi-chain platform employing a new take on interoperable blockchains, the parent-chain architecture. The blockchain of Ardor is regarded as the parent chain while other blockchains that work under the umbrella of the network are referred to as child chains.
The architecture bears similarities to the sidechain technology but while each sidechain is a completely independent and autonomous blockchain, the parent-child architecture is a tad different. In this ecosystem, the parent and child chains are more deeply integrated. The parent chain is responsible for the security of child chains – unlike in the case of sidechains. Moreover, the parent-child network enables pruning – a mechanism which allows the parent chain to eliminate unrequired child chain data to prevent bloating of the network. Pruning allows child chains far greater scalability by enabling even a smaller chain to process transactions equating to that of a larger blockchain.
The heavy integration of the child and parent chain does not compromise the individuality of child chains. While the parent chain is responsible for block generation, child chains have their own native tokens used for transactional and other purposes. Child chains share the same code but also has a variety of other features to differentiate them. Ardor currently has Ignis and NXT as child chains which are managed by Jelurida.
Ardor had established its ATH in 2018 at $2.55. The cryptocurrency was not able to skirt anywhere close to its all-time high but still showed a good performance. At the time of writing, ARDR token stands at a price level of $0.33. price projections suggest an upward trend for the cryptocurrency; however, the ATH is unlikely for Ardor to break.
According to the estimates of Wallet Investor, Ardor is expected to reach $0.96 in five years’ time. Digital Coin Price is more bullish on the cryptocurrency and projects a price level of $1.13 by 2026.