Open source cryptocurrency and payment network Nxt has announced its Ardor platform which it states will provide a scalable blockchain as well as smart contracts. Building on Nxt’s technology, developers designed Ardor to function beyond financial exchanges, with the platform will be open to everyone, including individual users, fintech start-ups, banks and governments.
The new platform is said to be scalable and easy to code on, with the ability for to customise separate private chains for transactions using the main blockchain, keeping the entire blockchain lightweight and secure.Smart Transactions, Nxt’s version of Smart Contract, are focussed on security and ease of use, particularly geared towards use in finance & governance.
Ardor offers all of the features that Nxt currently offers, like a Decentralized Asset Exchange, a secure blockchain, and the ability to create customised blockchains for anyone. Other innovations included are Decentralized Voting and Governance Systems, and, Smart/Phased transactions, whereby users will be able to set multiple conditions before a transaction is executed.
Dave Pearce, Director of the Nxt Foundation, said: “Ardor will deliver the functions that many of our users have requested and suggested. Given recent concerns regarding security within the digital currency sector, the architecture behind Ardor will open up opportunities to a broad base of potential users who wouldn’t normally interact using blockchain technology.”
Every holder of Nxt will receive Ardor tokens. They can also be purchased on Nxt’s website via trusted partners or on any exchange that trades NXT.