Estimated reading time: 2 minutes, 15 seconds
This episode of Blockchain Token – What is it? covers Ardor! In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.
Ardor is one of the projects that is offering blockchain-as-a-service (BaaS). Basically the project connects people willing to build a blockchain with private companies that need them. Ardor is coming along at the perfect time, which more and more organizations looking to incorporate their own private blockchains. The demand doesn’t simply stop at large corporations, we’re at the point blockchain technology or cryptocurrency is almost mainstream, with several news outlets covering the topic on a regular basis.
How does Ardor distinguish itself? The platform claims unlimited scalability and safe and reliable smart contracts (similar to Ethereum, however using NXT technology). They also allow you to create and customize your own “child chain” which can interact with the main chain as well as any other “child chains” created.
Ardor is a great solution for any private or public organization that deals with a lot of data. In this day and age we are constantly hearing about how popular company’s are hacked, and now your personal data is just out there to go to the highest bidder. Implementing blockchain technology provides for more reliable security, with a much lower chance of customer data being compromised.
Additionally, some organizations work with sensitive information. While this information is often protected heavily with standard security measures, these organizations are still looking towards blockchain to be the standard of tech security.
The ultimate goal is to have a very large ecosystem, with several businesses participating. Since they would all be connected via the main “parent chain” these organizations could interact seamlessly, exchanging data in an easy and cheap way.
Ardor’s technology has the ability to transcend borders, allowing organizations to overcome geographic limitations. One potential hurdle, their main competitors that offer blockchain-as-a-service include the likes of IBM and Microsoft, both of which are actively pitching blockchain technology to interested companies.
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