Let’s discuss the mayhem Ardor has managed to create in the crypto world and exactly why you should consider investing in it before it’s too late.
What is Ardor?
Ardor is an evolution of Nxt software. It is designed to address issues of blockchain bloat, versatility and scalability. This blockchain system is designed as a complete ecosystem whereby multiple players can interact without the need to go outside the platform. Some cool features making it worth your investment are;
- Ardor will solve the problem of having to store and process large amounts of non-important long-term data in the blockchain. It does this by separating the tokens used for regular transactions from those that provide blockchain security.
- The unique parent child chain architecture of the Ardor Platform allow companies to build their products and services using child chains while relying on the security provided by the parent chain.
- The Ardor Platform uses the Proof-of-Stake consensus algorithm which eliminates mining competition, therefore nodes can use low energy and economical hardware.
- Child chain transactions can be removed from the blockchain once they are confirmed, to keep the actual blockchain lightweight and efficient.
Ardor is built on top of NXT’s four years of production experience, and is developed in Java the most popular development language for commercial applications.
Standing in the coin market
Ardor is still in the Testnet phase and is expected to launch as planned, on January 1st 2018, 00:00:00 UTC, according to jelurida website.
All Ardor coins are already distributed through a 3 month period snapshot of NXT that was taken in Q3 2016. So everyone who held NXT through this time was rewarded with Ardor. Ardor is since tradable on exchanges and is already on a steady rise.
The marketcap of Ardor at the time of my writing this is about: $135m
Looking at the marketcap of NEM and the features Ardor is offering, plus that most people don’t know much about Ardor yet, I can safely say, a rise to $500m-$1b in the coming months after release is a very realistic scenario.
Back at the start of November, Ardor (ARDR) was trading for a less than $0.20 a piece. This week, the coin is riding high at $1.70 and looks set to run further into the end of the year. Exactly how far the current run can take it remains to be seen but – if we look at the more traditional metrics – it could be substantially so.
Volume over the last twenty-four hours came in at more than $33 million ARDR changing hands, against a market cap of $1.6 billion. This is more than 25 times the average daily volume seen throughout September and November this year.
Where and how to buy Ardor??
Seeing the market standing and the great future it holds, you probably want to buy some for yourself. Don’t worry, we got your back. Below is a small guide telling you how to buy Ardor coins for Bitcoins. Buckle up for a ride to Bittrex this time.
- Firstly, set up a wallet to store your Ardor in. Ardor’s official wallet can be found at nxtplatform.org. It’s called the Nxt Client. We’re using this wallet as ARDR is currently an asset on the Nxt blockchain. Download the appropriate file for your computer system and run it.
- After installing the wallet, open it up choose ‘New? Create your account!’ You will be given a powerful passphrase for your wallet. This passphrase allows you to open your wallet in the future, as well as send coins. It’s important you back this phrase up somewhere very safe, where other people won’t find it. Once done, click next.
- After typing in the paraphrase, your wallet will open up. It’s now ready to receive Ardor. Now we are to exchange your already stored Bitcoins for Ardor. If you don’t own some already, please go buy some before proceeding.
- To get the best exchange rate possible, we’ll use the site Bittrex to exchange your Bitcoin for Ardor. Click here to go to the Bittrex sign up form, and enter your email and a password. A confirmation email will be sent to you- click the link in it to access your new account.
- Once you’re in Bittrex, click settings > basic verification. As with most exchanges, Bittrex requires some basic information about you before you can access its trading services. So input your name, date of birth and address, and click submit.
After the details are verified, click ‘wallets’ on the top menu, and then in the list that appears, find Bitcoin. Press the + (plus) button.
- You’ll be given a Bitcoin deposit address, which looks like a long string of numbers and letters. This address is where we’ll send the Bitcoin you just purchased. Copy the Bitcoin deposit address Bittrex gives you.
- Now, return to Coinbase. Click ‘Accounts’ from the top menu, then find your Bitcoin wallet listed on the left. Click ‘Send’.
- In the ‘Recipient’ box, paste the Bitcoin wallet address we just copied from Bittrex. In amount, type how much Bitcoin you wish to send. Click ‘Continue’.
- Now we’ve got to wait a few minutes for the coins to move across the network. On the Bittrex wallet page, click the ‘hide zero balances’ tick-box to make it easier to tell when your Bitcoin has arrived. Once it shows in your ‘available balance’ we’re ready to trade for Ardor.
- Click hereto be taken to the Bitcoin / Ardor exchange section of Bittrex.
- Find the section labelled ‘Trading’ and ‘Buy Ardor’. Press the ‘max’ button, which tells Bittrex you want to use all your Bitcoin in this purchase. Now click ‘price’ and in the menu that appears select ‘Last’. This means we’ll be purchasing Ardor at the price (per coin) of about $1.58171.
- Press the ‘Buy Ardor’ button. Then ‘confirm’ in the pop-up box. Your order is now activated.
- Depending on the market, your order may be filled immediately (meaning, your Bitcoin was instantly converted to Ardor) or your order may be waiting for enough Ardor to become available at your chosen price to fulfil your purchase request.
- Click wallets, and make sure the tick-box ‘hide zero balances’ is selected. You should now see your Ardor in your Bittrex Ardor wallet.
- Click the – (minus) sign beside the Ardor wallet and it’ll bring up a screen for you to input your withdrawal details. Put the wallet address that you copied from Nxt Client wallet (in step 13) into the box labelled ‘address’. In quantity, we would suggest doing a small test transaction of a couple of coins to be sure everything is working correctly. Press ‘withdrawal’. It will take a few minutes for your Ardor to transfer.
- Go back to your Ardor wallet / Nxt Client.
- Click ‘Account Ledger’. You should soon see your new coins appear under ‘Holding’. Kudos you are now the proud holder of Ardor coins!!
In a nutshell, Ardor test network is open to everyone. The primary purpose is to enable users to test the various features of Ardor so that developers can optimize the blockchain platform for the mainnet launch in the third quarter of this year.
Hopefully this answers your curious questions regarding the cryptocurrency. Nevertheless, feel free to ask anything else or make additions to it in the comments below. On that note wishing you a pleasant New Year’s Eve, we take our leave!