Ardor’s v.2.4.0e Testnet Update Incorporates New Features in the Decentralized Asset Exchange

Blockchain-as-a-service (BaaS) platform Ardor has launched the v.2.4.0e upgrade for its existing Ardor 2.0 testnet version. To roll out this upgrade, the Ardor team completed the testnet hard fork for block 9800000 on March 20, 2022. 

According to the official unveiling on Twitter, the v.2.4.0e upgrade adds two new features to Ardor’s decentralized asset exchange, which plays a crucial role in its multichain ecosystem. This cross-chain decentralized asset exchange allows anyone to issue asset tokens on Ardor’s child chain Ignis, which will be immediately available to trade against all other child chain tokens that support it.

The Ardor team has added two new enhancements through the v.2.4.0e upgrade to further optimize the decentralized asset exchange. The first feature, Flexible Asset Control, facilitates the ability to control who can transact with the asset on the transaction type level. Earlier, this control was applicable for all asset transaction types, granting users limited flexibility. 

The other feature, Asset Trade Royalties, will enable the asset issuer to receive royalties based on a fixed percentage per asset trade. Via this model, royalties are subtracted from the amount that the asset seller receives and then automatically added to the asset issuer’s account.

Since Ardor has also entered the NFT market, these new features make Ardor and its child chain Ignis more appealing to NFT users and businesses. 

Accelerating Mainstream Adoption Through BaaS

Blockchain-as-a-service (BaaS) is a new concept gaining popularity in the corporate world. This service provides enterprises with the required infrastructure that they can use to build their Blockchain applications without having any knowledge of constructing one themselves.

Many companies are using this service because it lets them focus on their core competencies and not worry about the underlying technology. It also allows them to build and deploy Blockchain applications without investing significant resources in hiring developers or personnel.

To that extent, Ardor, a Blockchain-as-a-service platform that provides businesses with the power to create their Blockchains, build decentralized applications, and issue tokens, is spearheading the efforts to lower Blockchain entry barriers while accelerating its mainstream adoption.

Developed by Swiss Blockchain technology firm Jelurida, Ardor uses an innovative parent/child chain architecture. Users can easily create their child chain while still connecting to the Ardor main chain. The main chain offers voting, messaging, marketplace, asset exchange, and cloud storage features. 

The Ardor platform has been designed to support the easy creation of child chains with minimal coding requirements. All Blockchains created by businesses or organizations are interconnected, facilitating cross-organizational collaboration.

Due to its unique infrastructure, low cost, and high scalability, Ardor has positioned itself as the go-to platform for many Blockchain projects. The parent company, Jelurida, has been around for more than a decade and has developed several promising Blockchain solutions like the first 100% Proof-of-Stake (PoS) Blockchain Nxt and the Ignis Blockchain. 

Ardor is considered the successor of the Nxt Blockchain and is intended to be an open-source, public Blockchain for anyone who wants to create their child chain and interact with other chains on the network.

Ardor offers native support for NFT assets and tokens, unlike most existing Blockchains. Since there are no third parties involved in managing or overlooking the underlying smart contracts, Ardor effectively overcomes the problems of security, centralization, and high costs. 

As a result, many NFT and gamification projects are migrating to Ardor as their go-to platform. In recent months, Ardor has become home to some of the most popular projects, including the Polygon-based game Mythical Beings, NFT-focused platforms like NFTMagic, Sigbro, and gamification projects like Cycle4Value, TreeCycle, and HotCity. 

Besides these applications, Ardor is also being deployed in real-world scenarios. Jelurida is currently collaborating with Accenture to develop the Senator Blockchain project funded by the EU (European Union). Furthermore, Jelurida has partnered with Ticino Blockchain Technologies Association (TBTA), Lugano (CH), to promote and support Blockchain awareness and education.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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