Ardor (ARDR) Review NXT 2.0 – Cryptocurrency Review

hey everyone Demetrios here and today I’m going to talk about our door ard our and Ignace the first child chain on our door and all of this will wrap into NXT as well but first I want to thank everyone who’s been subscribing liking the videos and commenting I always appreciate the support if you’re on this channel you know finding yourself here for your second or third time please click the subscribe I always appreciate the support so let’s jump right on into this thing a lot of you have been asking me to take a look at our tour especially after I spoke about mem about a week ago so I will make sure to do a direct bit of a comparison on that towards the end of this so what is our door just to start off well it’s a token currently on the NXT blockchain but it’s meant to be a sort of NXT 2.0 it alott launched the Genesis block on January 1st 2018 and I maintain the proof of stake that NXT is famous for it’s one of the first proof of stake coins for those of you who are just getting into the space you know next he really was one of those heavy hitters back in the day it was developed by gel Arita and our door is developed by gel Arita as well as is Ignace and really there will be a significant amount of emphasis on child chains with the launch of our door and ignis so i’m gonna get into that whole concept of child chains I thought it was the same thing as private chains or or side chains but it’s actually not so it’s it’s it’s actually pretty interesting so I’m gonna get into that as part of it like why our door section in just a minute it’s in JavaScript they’re doing a Christmas snapshot of our door to do the Ignis distribution they are meant to be this whole system platform is meant to be integrated very easily with legacy systems as well you hear a lot more of these newer block chains saying that their max supply is actually their current supply 998 million nine hundred ninety nine thousand four hundred ninety five and it is available on a number of major exchanges including Vectrex and my axe so why order what’s special about this thing what’s this whole child chain concept for a side chains well side chains most people already know are these private areas where you it helps you scale you can you can put all of the businesses private information and smart contracts on that chain and none of it has to go on the main chain but the problem with side chains is that you then have to secure your side chain yourself you need to have your own nodes to to basically stake your side chain over simplifying child chains it’s a similar concept where businesses can still have their private smart contracts going all of their own activities occurring however they also are verified by the main nodes of the main chain of our doors so it’s not every child chain that’s constantly backed up on the our door chain it’s some of the most recent child chains and transactions and things of that sort but that way there is always a sort of central auditing system within the our door network so that every chain is always secure and you can’t just hack into a side chain because they don’t have the proper level of staking power for example at some point in time it’s always secured by that main chain so it’s a pretty interesting concept here on on child chains and I and it’s what I hadn’t really understood the you know articulated difference between the two so it is still in test net at the moment so it’s again this is still just a token on NXT it’ll launch its Genesis block in January but but they plan to have all these ready to use api’s token distribution seems to have been done the way it is meant to maximize the distribution of the coins there’s a very solid community around NXT like I said it’s one of those first proof of state coins so there are some very ardent believers in this platform also NXT holders received about 50% of the air drop of ardor when it launched so they have an incentive to care about this thing as well the roadmap is also very transparent on their website they’ve got a clean website that gives you a sense of what they do what the whole concept is how order is linked to Ignace how Ignace is linked to NXT and so on and so forth but really just to simplify things here for those of you who are trying to understand what’s this whole concept of NXT order Ignace I’m mentioning these three different names so NXT is basically the original platform their original crypto but our door is meant to essentially replace it it’s meant to be the new version of an XT essentially same team and everything so it’s really meant to override I’m not sure exactly what the plans are for NXT after all of this so at the moment our tour is based on NXT but it will be its own thing beginning in 2018 and ignis will then be connected to our door NXT blockchain creator kit is something that’s going to be huge for this our tour is still going to be obviously so it’s the same team as NXT – I’m sure there’s some way that these fees are all working I haven’t I’ve had trouble understanding the fees to be honest I know NXT is still integrated with our door moving forward especially with this watching creator kid that’s meant to provide tools and API is for developers to be able to build on the ardour platform very easily so there is still in existence there there’s still some level of fees occurring between these areas but to be completely Frank this is where I get into the concerns around our door the fact that the fee structures are really quite confusing I was trying to understand that going through some reddit feeds and and really the the discussion didn’t leave me feeling the most confident it appeared that there wasn’t too calculated of way of moving forward with it and it seemed like it was kind of the price doesn’t work with the market then we’ll just kind of move it but but that risks having moments where the chain kind of grinds to a halt off the riff the fees are too high and from my understanding that’s somewhat kind of what happened at some point with NXT is also that there was just mismanagement of fee structures and incentives which just prevented it from working efficiently so hopefully Artur doesn’t repeat that issue it’s still in test net so there aren’t any really major use cases or pilots it doesn’t have any major Fiat pairings really other than the Euro which is great but still it’s not great for liquidity to only have one eye and then I come down to the hole okay are to reverse and I have to quickly address that child chains versus the private chains that versus meeting for example Newton’s being used by 300 plus businesses to run pilots or to fully you know it’s just being fully utilized whereas these child chains aren’t really being utilized yet by any major businesses so we can’t really vote for how well these things work yet it is promising technology but when it comes down to it men’s private chains are also being backed up by the main network just as child chains and our door being backed up by the main network so in that regard I have a hard time understanding really the difference is there other than just coining their own terms but when it comes down to yeah integrating with other businesses and and moving forward with things it would seem that they are very much competing in a similar space and that our door does have some grounds to make up in this space but it’s been doing a great job moving up the charts the last few weeks there’s a great level of enthusiasm around this thing I think as long as Artur can get their messaging right around why child chains are significantly different from side chains as long as they can prove that they’ve got a clear fee structure and as long as they can start to get some actual use cases and pilots lined up and potentially maybe some more you know Fiat pairings this thing could really be on its way to something great I mean the tech behind it is solid so I’m very excited to see where this whole thing goes let me know your comments below and again I always appreciate your subscriptions see you again soon