Ardor Delivers Powerful Blockchain Platform with Promising Native Support for NFTs
September 29 2021 - 12:41PM
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In a recent report, nonfungible.com noted that over $2 billion was
spent on NFTs during the first three months of 2021, marking a
2,100% increase over the fourth quarter of 2020. Per DappRadar,
NFTs generated more than $1.2 billion in sales in July 2021 alone,
more than half of the cumulative sales volume between January and
June of 2021. The milestones mentioned above are just the tip of
the iceberg as the NFT ecosystem continues to expand, setting new
records with every passing day. Between 2020 and 2021, NFTs have
established themselves as one of the most prominent sectors within
the decentralized finance (DeFi) economy, enabling thousands of
creators globally to start a parallel (and recurring) source of
income. However, getting started with NFTs isn’t everyone’s cup of
tea. Besides blockchain’s steep learning curve, the complications
of creating multiple wallets, purchasing the required tokens to pay
gas costs, and identifying the right marketplace for affordable NFT
listings all make it difficult for artists to mint their own
NFTs.AF The process of minting NFTs may vary broadly, primarily due
to the availability of several blockchain platforms that support
NFTs and the rise of hundreds of new marketplaces. Moreover, most
platforms bump up against limitations or face challenges when
dealing with a surge in NFT demand. For instance, at present, the
vast majority of NFTs and NFT marketplaces are built on the
Ethereum network. Due to the influx of artists and collectors, the
Ethereum network has come under unprecedented pressure, resulting
in network congestion, low throughput, and rising gas fees. A
Fully-Featured Platform For NFTs While several alternative
blockchain solutions like Binance Smart Chain, Polkadot, and more
have started supporting NFT solutions, not all offer native
support. In fact, most underlying blockchains are totally oblivious
to the available NFT assets minted or traded on their platform, as
related activities like registering wallets, purchasing tokens, and
trading is made possible using smart contracts constructed by
third-party developers. Relying on smart contracts built by
third-party developers may lead to several problems, including
security risks, higher costs, and increased centralization. This is
where Ardor emerges as an impressive solution for developers and
individual artists, conveying several features designed
specifically to support NFT tokens and assets. Conceived by the
team behind Jelurida and Nxt, Ardor is a multi-chain proof-of-stake
(PoS) blockchain platform with a unique parent-child chain
architecture alongside extremely powerful customization features.
Ignis, the child chain of Ardor, delivers out-of-the-box features
and supports advanced privacy mechanisms like coin shuffling and
encrypted messaging for secure sharing between third parties.
Unlike existing blockchains that support NFTs via smart contracts,
Ardor and Ignis support a built-in transaction type to deliver rich
functionality while offering the flexibility required to facilitate
a wide range of use cases for NFTs. With Ardor, features such as
NFT registration, trading, and transfers are supported natively by
the core platform’s decentralized asset exchange. The cloud data
feature handles NFT storage, and other activities like account
registration, ownership validation, transfer, and other related
aspects are overseen by Ignis. Additionally, all of these actions
can be orchestrated within full-fledged dApps using Ardor’s
energy-efficient PoS-based smart contract mechanism and a built-in
hierarchical deterministic (HD) wallet, ensuring lower transaction
fees and enhanced user experience. Several notable projects like
NFT Magic, DeFiMAGIC, Cycle4value, TreeCoin, Triffic GeoMorfs,
Sigbro, Mythical Beings, among others, are already harnessing the
power of Ardor. Together with the parent-child architecture, myriad
functionalities, and support for real-world use cases, Ardor has
emerged as a capable platform for native NFT support, complete with
high-grade security, lower fees, and a better user experience.
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