October 13, 2016 HitBTC cryptocurrency exchange adds support for the freshly launched digital asset – Ardor. The new ARDR to BTC market is already open for trading on the HitBTC exchange.
Upon the idea of the Nxt development team, Ardor tokens will be distributed among NXT holders proportionally to their average NXT balances from July, 14 to October, 13, in 1:1 ratio. Due to the solid reputation of the Nxt technology and team, and having NXT/BTC market listed, HitBTC decided to support the initial ARDR distribution: The exchange will pass received ARDR coins on the accounts of its users, proportionally to the amount of NXT each HitBTC user holds. Paul Clarkson, product manager at HitBTC, says “Nxt has a great technology, reputed team, and tons of followers. The redistribution of Ardor tokens is our way to support the Nxt revolution, and we’re more than glad to do so. We reached out to the Nxt team beforehand to find out how to implement everything correctly, and it was a pleasure to cooperate with them.”
What is Ardor?
Ardor is a new blockchain platform, built on the Nxt technology by the Nxt core developers. Ardor is also called NXT 2.0, as it expands capabilities of the basic technology, by providing unlimited scalability, safe smart contracts, and customizable child chains.
Child chains are branches of the main chain that can be used by businesses, organizations, and users for different purposes, like setting up a private chain for secure data transfers, or a public one for marketplace activities. Therefore, child chains provide a Blockchain as a Service (BaaS) model, opening blockchain development to organizations and individuals across the world.
Here are the words of Travin Keith, Nxt foundation Web and Marketing Manager – “ Ardor will allow people to utilize blockchain technology without having to worry about the common issues that people face when setting up a blockchain, such as having enough nodes.”
Ardor also provides manageable blockchain size, which solves 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.
Moreover, decentralized voting and governance systems, introduced by Ardor, enable the ability to trade assets on any child chain for any of the child chain tokens. And Ardor’s phased transactions allow users to set multiple conditions before a transaction is executed, such as a minimum number of votes and a set amount of time.
Despite all advantages and improvements, the market value of Ardor remains an open issue. Paul Clarkson comments. “Clearly, the price of Ardor will be determined by the market, so it’s hard to make any predictions. But what we know is that NXT market cap, having gone through its ups and downs, now exceeds $11,000,000. So in my estimation, being “NXT improved”, Ardor should reach at least a $1,000,000 market cap effortlessly.”
HitBTC is one of the leading cryptocurrency exchanges, providing trading services for individual traders since 2013. The HitBTC trading platform is known for its advanced matching engine, multi-currency support and friendly customer service. Besides trading between cryptocurrencies, HitBTC provides proper markets for exchanging cryptocurrencies for fiat currencies, namely USD and EUR.
The innovative and technological nature of HitBTC is expressed in a stable dependable API, which satisfies the needs of algorithmic traders. Moreover, HitBTC provides support for FIX protocol through FIX trading and FIX Market data end-points.