Ardor ARDR cryptocurrency: market analysis and value | Bullbear Analytics

Currency name(s):  Ardor (ARDR)
Genesis Block:  January 2018
Total Supply:  Total maximum supply is around 999 million Ardor tokens; it is also the circulating supply as all tokens are released in circulation
Algorithm: proof-of-stake
Features:  scalable, fast, secure, decentralized, ready-made customizable ‘child’ chains, blockchain-as-a-service

  1. What is Ardor?

    The Ardor network is one of the first networks to offer blockchain technology as a service for enterprises and institutions, and its goal is to develop and offer the unique capabilities the blockchain has. In order to skip developing unique blockchain solutions, one enterprise can, for example, connect to the Ardor network and have a ‘child’ chain that they can customize to their needs. The main blockchain is responsible for complete security, node and block verification, and decentralization, while child blockchains developed on its network can be used for various purposes, from logistics management to data centers. It functions completely different from the standard, more adopted blockchain technology solutions such as Bitcoin, and leans toward how the Ethereum network functions. However, Ethereum doesn't have the ability to form fully capable child chains as of yet, and the Ardor network can create them in a matter of hours, depending what the user needs the chain to be able to do and to handle.

    Although the potential applications of this kind of approach to blockchain technology are vast, so far this technology has managed to bring just a few of the big enterprises to use its approach, and these are BNP Paribas and Accenture. These big enterprises have started testing this kind of approach to blockchain, but we have yet to see their thoughts and full adoption. As in most blockchain technology projects, once the adoption of the Ardor blockchain network begins to increase, that would be the step which would open the door for many interesting future projects. Regarding said projects, there is one fully-fledged project that Ardor has been testing and that is Ignis, which we will discuss in the later parts of this analysis.

  2. Technology

    The Ardor network offers a unique way to how the blockchain technology can be utilized by introducing the parent-child architecture. This kind of approach, to have one large blockchain and multiple smaller ones, allows for the network’s functions such as decentralization and security to be handled by the parent blockchain, so that child blockchains are relieved of this massive computation processes. Another critical problem this approach solves is the so-called blockchain bloat. This bloat is common in massive proof-of-work blockchain networks and happens when a node, in order to be fully functional, needs to download the complete history of the transactions that occurred within the network. This approach may not be viable in the long run, so Ardor solves this issue by creating nodes specifically used to archive the transactions, and bundles the nodes so that each holds a piece of transaction history, not the whole. That is why this network uses proof-of-stake instead of proof-of-work as Bitcoin does.

    These bundling nodes can also be used to convert the tokens as well – for example, a child chain creates a new token, and uses it to pay fees for using the Ardor network. The bundling nodes then convert the child network’s tokens into Ardor’s native token and continue with the fee payment.

    The team behind the Ardor network took a step further in trying to show what the network is really capable of, so they created the first child blockchain called Ignis. The Ignis network is fully operational, has all the feature the parent network has and has more tools added that the original network doesn’t have. People can trade Ignis tokens on various markets as well, and it was designed as a proof that this concept can find its application in the real world.

  3. Ardor Markets

    Our Ardor network market analysis has shown that even though this token is relatively new to the cryptocurrency scene, it has had its fair share of fluctuations during the current market correction. As it was launched on the mainnet in January 2018, it was allowed to be traded before that time, but its launch brought a significant increase in price. The highest price for one Ardor token was $2.55, recorded during January 2018. However, the lowest price per token recorded was only $0.008 in October 2016, when the token was only being circulated on the testnet. Today, the price per token is $0.06 and the market cap currently sits at around $60 million. Upbit, Binance, Poloinex, and Bittrex offer trading pairs for the Ardor token. For the time being, the Ardor token can be bought for other cryptocurrencies such as Bitcoin or Ethereum, but only two fiat currencies are supported as trading pairs and these are curiously Euro and Korean Won.

  4. The Ardor network offers a unique approach to the blockchain technology as it is one of the very few networks that offer the parent-child architecture where the enterprises can set up their blockchains without any coding or fear of security as that is what the parent blockchain takes care of. It is a readymade solution, specifically designed to be used in the enterprise ecosystem. However, the mass adoption of this new technology has yet to begin, as many enterprises are led by the thought ‘why change something that is already working’, so the cryptocurrency community would have to wait a bit before major shifts are seen. There is still resistance that the blockchain technology has to overcome, but that resistance is seen with every new piece of disrupting technology. Once the blockchain overcomes it, the community will witness great things that develop from this amazing technology. That is why a good holding position for the Ardor token is medium-long to long.

  5. Ardor Charts & Technical Analysis

    ARDR position added to following a nice looking confirmed market structure bottom as well as price rising above the fast MA's. For previous post please see here. Volume profile suggest this level has been heavily accumulated, and the indicators are showing promising signs with MACD positive and Willy trending higher. Position size is still well within our max 5% and we will look for further bullish setups to scale in further. Cheers

    ARDR first target hit, volume is still coming in to this market and we are making higher highs and higher lows a sign of a bull market. We are close to short term resistance level, therefor we might see a buyable pull back which we will certainly be looking for to add to the positon.

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