Ardor, a multichain blockchain platform, recently took a significant move in its quest to keep up with the NFT race.
As previously reported, Ardor announced two critical updates to the decentralized Asset Exchange, providing users with increased control through decentralization and transparency.
Ardor Makes NFTs Better for Everyone
Ardor (ARDR) is a Blockchain-as-a-Service (BaaS) platform that allows businesses and individuals to establish private subchains with specific settings for issuing assets.
As a platform, Ardor is an evolution of the NXT blockchain and provides numerous benefits over its predecessor, in terms of features and scalability.
Initially a decentralized blockchain platform developed by Jelurida, Ardor is now offering pivotal enhancements to its decentralized asset trading sector.
The newly implemented asset trade royalties and flexible asset control will strengthen the open-source multichain platform and its specific architecture.
Ardor’s parent-child chain system incentivizes developers building on the platform. The parent chain handles security and transaction processing, while the child chains handle business-ready functionality.
A child chain’s nature is adaptable, as it can carry native tokens and various features.
Furthermore, Ardor employs Proof-of-Stake as a consensus algorithm to ensure that it is both energy-efficient and environmentally friendly.
More Tools From Ardor
The decentralized Asset Exchange is one of the projects that use Ardor’s multichain architecture. This new functionality acts as an exchange gateway for all assets issued on Ardor’s child chains.
Assets can now be added and transferred via the Asset Exchange interface.
The Jelurida team plans to make Ardor more adaptable based on community feedback and experiment with new concepts in the next Ardor v2.4 release.
Ardor’s latest version gives its customers even more benefits thanks to two new features added to the decentralized Asset Exchange: Flexible asset control and asset royalties.
Flexible asset control is an upgraded version of the previous control scheme. The new feature will perform on all types of transaction assets.
Asset owners have the ability to control who can interact with an asset based on the transaction type level (trading, transferring, paying dividends, etc…).
Asset issuers are now provided with royalties by a fixed percentage from each trade, the number of royalties is subtracted from the child chain coins the asset seller receives from a transaction.
Royalties are added to the issuer’s account automatically.
A Solid Base for Future Growth
Ardor, which debuted in 2016, is one of the oldest blockchains still in operation today. The simplified BaaS approach assists users in resolving the majority of problems they may encounter.
By using a technical approach, Ardor can compete with other major BaaS platforms such as Microsoft. To run a BaaS platform, users do not need to invest in expensive equipment or consume a lot of electricity.
Ardor’s advantages are applied in diverse aspects such as monetization. Users can access the platform’s premium services.
The Ardor platform supports multiple services including transfers, digital payments, financial transactions, and international transactions.
Given the decentralized structure of the Ardor blockchain, these are services that stakeholders can value, and community groups find Ardor valuable due to its accessibility and transparency.
The Jelurida team is optimistic that the new features will make Ardor – and, by extension, Ignis – more appealing to NFT issues, among other things.
Additional royalties support at the Asset Exchange level incentivizes artists and opens the door to a far more active market.
Many potential use cases and implementations are enabled by specific role assignments with assets based on the transaction type level.
Both new functionalities are set to launch on the Ardor testnet at block 98,000,000. Follow the Jelurida team on their social channels to stay up to date on the mainnet activation block height.