Ardor Coin: A Scalable Multichain Platform for DApps and Businesses

Ardor Coin: A Scalable Multichain Platform for DApps and Businesses

Ardor Coin (ARDR) is the native token of Ardor, a blockchain platform that allows users to create and manage their own child chains with custom features and security. Ardor aims to solve the scalability and interoperability issues of blockchain technology by separating the network layer from the transactional layer. In this post, we will explore the main features of Ardor, its market performance, its latest developments, its investment potential, and its future outlook.

 

Coin Introduction and Features

Ardor was launched in 2018 as a fork of Nxt, one of the first pure proof-of-stake blockchains. Ardor inherited the features of Nxt, such as decentralized asset exchange, voting, messaging, data cloud, and more. However, Ardor also introduced a novel architecture that consists of a parent chain and multiple child chains.

The parent chain, Ardor, is responsible for securing the network and processing the transactions of all child chains. The child chains, on the other hand, are independent and customizable blockchains that can have their own tokens, smart contracts, and applications. The child chains can also communicate with each other and with external systems through interoperability features such as cross-chain transactions, lightweight contracts, and data prunability.

Some of the benefits of Ardor’s multichain design are:

• Scalability: By offloading the transaction processing to the child chains, Ardor reduces the blockchain bloat and improves the performance of the network.
• Flexibility: By allowing users to create and manage their own child chains, Ardor enables a variety of use cases and business models that can suit different needs and preferences.
• Security: By providing the parent chain as the ultimate source of truth and consensus, Ardor ensures the security and reliability of the whole network and all child chains.

Ardor Coin (ARDR) is the token that is used to pay for the fees of creating and maintaining child chains, as well as for participating in the governance and decision-making processes of the network. ARDR holders can also stake their tokens to validate and forge new blocks on the parent chain, and receive rewards in the process.

 

Market Analysis and Trends

According to CoinMarketCap1, Ardor Coin has a market capitalization of $95.3 million USD, a circulating supply of 999 million ARDR, and a maximum supply of 999 million ARDR. As of March 7, 2024, the price of ARDR is $0.0954 USD, which represents a 1.3% increase in the last 24 hours, and a 34.5% increase in the last seven days.

The chart below shows the historical price movements of ARDR in the last year:

As we can see, ARDR experienced a significant rally in January 2021, reaching an all-time high of $0.3468 USD on January 10. This was followed by a sharp correction and a period of consolidation until February, when ARDR started to recover and trend upwards again. In March, ARDR broke out of a falling wedge pattern, which is a bullish reversal indicator, and surged to a new high of $0.1174 USD on March 6.

The current trend of ARDR is positive, as it is trading above its 50-day and 200-day moving averages, and has a strong momentum and volume. The relative strength index (RSI) is also in the overbought territory, indicating a high demand and enthusiasm for the coin. However, ARDR may face some resistance at the $0.1010, $0.1079, and $0.1142 levels, and may also experience some volatility and corrections along the way.

 

Project Updates

Ardor is constantly developing and improving its platform and ecosystem, with the help of its parent company, Jelurida Swiss SA, and its community of developers, users, and partners. Some of the recent updates and announcements for Ardor are:

• On February 11, 2021, Jelurida released the experimental version 3.0.1e of Ardor, which includes several enhancements and bug fixes, such as improved pruning functionality, optimized contract execution, and added API methods2.
• On February 18, 2021, Jelurida announced that it has partnered with Wise MPay, a Singapore-based fintech company, to launch Coalculus, a hybrid blockchain platform that aims to provide financial inclusion and innovation in the Asia-Pacific region. Coalculus is based on Ardor technology and will leverage its interoperable and scalable features to offer solutions for remittance, payments, and digital identity3.
• On February 25, 2021, Jelurida announced that it has joined the Blockchain for Europe association, which is a leading voice for the European blockchain industry. Jelurida will collaborate with other members of the association to promote the adoption and regulation of blockchain technology in Europe.

 

Analysis and Recommendations for Investments

Based on our investment analysis of Ardor, we can conclude that:

• Ardor has a strong value proposition and a unique multichain architecture that sets it apart from other blockchain platforms. It offers a scalable, flexible, and secure solution for various use cases and industries, such as fintech, gaming, e-commerce, and more.
• Ardor has a solid development team and a supportive community that are constantly working on improving and expanding the platform and its ecosystem. It also has several strategic partnerships and collaborations that enhance its visibility and credibility in the blockchain space.
• Ardor has a positive market performance and a bullish trend, as it has shown a significant growth and recovery in the last few months. It has also broken out of a key resistance level and has the potential to reach new highs in the near future.

Therefore, we recommend Ardor Coin to investors who are looking for a promising and innovative blockchain project that has a clear vision and a competitive edge. Ardor Coin is suitable for both short-term and long-term investments, as it has a strong fundamentals and a favorable technical outlook. However, investors should also be aware of the risks and challenges that Ardor may face, such as market volatility, regulatory uncertainty, and competition from other platforms.

 

Outlook and Community Response

The short-term and long-term prospects for Ardor are optimistic, as it has a lot of room for growth and improvement in the blockchain industry. Ardor has a roadmap that outlines its future plans and goals, such as launching new child chains, implementing new features and enhancements, and expanding its network and partnerships. Some of the upcoming milestones for Ardor are:

• The launch of Bridge Champ, a blockchain-based online bridge game that will run on a dedicated child chain and will use a new token called CHAMP.
• The launch of HotCity, a blockchain-based gamified platform that will reward users for providing waste heat data and will use a new token called HOTCITY.
• The launch of Cycle4Value, a blockchain-based platform that will incentivize users to cycle more and will use a new token called CYCLE.

The community response to Ardor is generally positive and supportive, as it has a loyal and active fan base that engages with the project and its team on various social media platforms, such as Twitter, Reddit, Telegram, and Discord. The community also participates in various events and activities, such as hackathons, webinars, contests, and giveaways, that showcase the potential and innovation of Ardor. The community also provides feedback and suggestions for the improvement and development of the platform and its ecosystem.