Ardor (ARDR) Price

Ardor is an advanced multi-chain blockchain system with innovative parent-child architecture. It provides a secure network by using the parent chain, while the interconnected child chains offer a vast array of features and functionalities. The hybrid user-permission features make Ardor extremely flexible for different use cases.

Ardor opens up the opportunity for wider adoption of blockchain technology. It was designed with scalability in mind, solving the persistent inefficiencies of the modern blockchain industry, such as network congestion, reliance on a single token, and the need for configurable blockchain solutions.

A team of acknowledged developers, who had previously launched the NXT blockchain, created Ardor. Ardor utilizes a proof-of-stake (PoS) consensus protocol, making it energy-efficient and eliminating the need for expensive hardware. This makes Ardor suitable for both public and private use cases, as it can run on a computer.

ARDR is the platform’s parent chain token, and it is primarily used for forging – the process of creating new blocks and achieving network consensus. Forging is a form of staking where new blocks are created on the ARDR blockchain. This is done by validators, who are responsible for verifying transactions, minting new blocks, and achieving consensus on the network.

The process of forging requires validators to stake their ARDR tokens, which are then used to reward them for their efforts. This process helps to secure the network and ensures that the transactions on the blockchain are valid and can be trusted. ARDR also has governance power, meaning token holders can vote on the future parameters of the Ardor protocol.