Ardor
Crypto Overview
Overview
Ardor is a blockchain-as-a-service platform launched in 2018 by Jelurida, the same company behind NXT blockchain. It implements a unique parent-child chain architecture where ARDR tokens operate on the main chain while allowing businesses to create customizable child chains.
Intended Utility
Ardor's primary purpose is to serve as a blockchain platform that enables businesses to create their own child chains without needing to secure the network themselves. The ARDR token is used for network security through proof-of-stake consensus and transaction fee payments.
Actual Utility Assessment
The platform demonstrates genuine technological utility through its multi-chain architecture. Current usage shows several businesses utilizing child chains, including Ignis, the first child chain. Development activity remains consistent, with regular updates and improvements to the core protocol.
Token Distribution and Governance
The initial distribution of ARDR tokens was done through a snapshot of NXT holders, with no ICO or pre-mine. The development team received a portion of tokens, but there were no concerning large allocations. The project maintains transparent development funding through transaction fees.
Technical Implementation
The platform implements proof-of-stake consensus which is permissible under Islamic finance as it involves actual asset ownership and network security provision. The child chain architecture allows for genuine utility creation without relying on interest-bearing mechanisms.
Crypto Impact
To assign a comfort level investing in Ardor from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ardor.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.