I missed the initial announcement, but just got back into NXT to get some Ardor. There's two months left, so it's not too late. The value should be the NXT + the value or ARDOR. I just still a little confused of how child chains and the I think FNX all works, not being able to really visualize it. Like when I have ARDOR, what's the function of the FNX. (I think that's what it's called.)
Someone should create a video that would make the concept really clear for those just hearing about the concept, else the terms could be hard to understand for anyone casually reading.
Someone should create a video that would make the concept really clear for those just hearing about the concept, else the terms could be hard to understand for anyone casually reading.
Ardor is a forging chain, boss chain over all the child chains. The boss Ardor chain will not have utility functions, its purpose is to oversee that the decentralized consensus is maintained in the network. Functions of boss chain are few: maintaining consensus with forging, sending Ardor between accounts.
You must hold NXT to October 12, 2016 to receive Ardor.
****************** Banner Added For Visualization
****************FNX is a default child chain. You must hold NXT to Q3 2017 to receive FNX.
Utility functions of child chains are: sending coins, arbitrary messages, asset exchange, voting, marketplace, coin shuffling, data cloud, something else I surely missed because there are too many. More utility functions will likely be added, you should check the Nxt client 1.10.1 in my sig, it's awesome. Apps are built around these utility functions of child chains.
By forging, you mean like mining is for Bitcoin right? In order words, Ardor will be used to "forging" (which would be like mining for those not familiar with NXT) and trading. Right?
Right. Forging is Nxt's term for staking. Staking is mining in the proof-of-stake world.
Ardor will be a staking token. FNX will be a business token on the first default child chain.
Other child chains will be added as the project matures - companies, communities of people should be able to create their own blockchain under consensus protection of the Ardor chain. If there is demand for blockchains in the future, creating a blockchain on the Ardor platform will be cheaper and headache-free for them. Companies outsource production to where production is more cost effective all the time. It will be much more cost effective and *secure* for them to run a blockchain on the Ardor platform.
You will be able to trade Ardor. Ardor tokens are like your Bitcoin mining asic gear that you can buy and sell, think of them as virtual asics. The difference is Bitcoin mining gear is outdated every few months because they invent new better ones. Ardor tokens can't be outdated, there are 999 million of them, there can't ever be more. Unlike outdating bitcoin mining gear, the forging power of 1 Ardor token is constant.
) more ARDR!