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Home / News / Altcoins / NXT 2.0 token Ardor (ARDR) distribution starts in 2 days

NXT 2.0 token Ardor (ARDR) distribution starts in 2 days

The Nxt development team announced Nxt 2.0 platform at June 19, 2016, which will revolutionize current NXT 1.0 system. Beyond all of the current features NXT 1.0 provided, many new functions will be incorporated.

New features

There are some new features coming with the NXT 2.0 system:

1. Offering Blockchain as a Service – Ardor will open blockchain development to organizations and individuals across the world. The high barriers to getting started with blockchain are about to vanish.

2. Manageable Blockchain Size – Ardor will solve the problem of scalability by separating transactions and data that do not affect security from those that do, and moving all of those that don’t affect security onto child chains. The Ardor team will create the first child chain to house many Nxt 1.0 tools as well as future features. This small size also comes with short transaction times so processes need only a fraction of time compared to Bitcoin to execute functions.

3. A Decentralized Asset Exchange – Building off of the Asset Exchange on Nxt, Ardor will enable the ability to trade assets on any child chain for any of the child chain tokens. This allows child chains to interact with each other and opens up numerous opportunities for collaboration as well as allow cross chain asset trading, a long-requested feature within the Nxt ecosystem.

4. Decentralized Voting and Governance Systems – Ardor will be at the core of decentralized consensus in the future. Secure and anonymous voting will be an available feature on all child chains as it is on the Nxt platform.

5. Phased Transactions – Users can set multiple conditions before a transaction is executed, such as a minimum number of votes and a set amount of time. Like Nxt, Ardor will use Smart Transactions. With this, users will only need to submit the parameters necessary for the transaction and the ID of the functionality they want to use. The transaction process is also completely decentralized. No centralized server, service, or application, like Ethereum’s Oracle, is needed.

Jean-Luc writes:

Ardor’s prime innovation is to split the blockchain into a main chain that is used for consensus creation only, and multiple child chains that keep separate ledgers of transactions, each child chain using its own coin/token.

How to distribute the token

Ardor (ARDR) will be used as the token for the NXT 2.0 main chain. They will be distributed to the NXT holders rather than through ICO to spread the token like others, with the process called snapshot, which will be taken hourly (every 60 blocks) from July 15th ( Start Height: 870400 ) to October 12th ( End Height: 1000000 ). Every NXT account’ balance will be averaged between these 90 days. At the end of snapshot, the equivalent amount of Ardor tokens will be automatically sent to user accounts as an asset (ARDR available to trade until the official launch of NXT 2.0 blockchain estimated at the 3rd quarter of 2017.

Jean-Luc writes:

The distribution of the real ARDR coins will be based on the ownership of ARDR Assets taken at the point of time when the 2.0 Genesis block is created.

The distribution of first child chain token FNX

Besides Ardor tokens, the first default child chain tokens (FNX) will be based on this snapshot as well. But the difference is that you only get half amount of FNX comparing with the number of received Ardor tokens. The other half will be reserved for the development team and used to fund the further developemnt of NXT 2.0 system.

Buying up NXT

There are two days before the start of snapshot. NXT price skyrocketed to 0.000052BTC from the opening price 0.000031BTC level at July 11th, 2016 at Until now its price still stays as high as 0.000045BTC level. Investors and NXT supporters flock into its market and buy up NXT.

nxt price skyrocket at poloniex

Hoding NXT for three months will recevie the same amount of Ardor, and half amount of FNX tokens for free. No other development team will give such a good opportunity. The thing NXT holders only do is just to send NXT to their personal wallet and wait until the end of snapshot.

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