Jelurida, the development company behind the Nxt and Ardor Blockchains, and Adel Ecosystem Ltd., a global self-sustained cryptocurrency community, announce today their intention to cooperate to promote the Ardor platform.
Adel will implement Jelurida’s newest Blockchain technology to improve the functionality of its platform, which aims to develop, support and fund innovative start-ups using Blockchain technology. Adel will enable new assets and future tokens on the Ardor platform.
Jelurida is responsible for developing Nxt and Ardor, whose tokens are currently trading for a combined market cap of 200 million dollars. Adel successfully raised over €1m during its month long ICO in May using the Nxt decentralised platform. The combination of integrated features, such as asset creation and decentralized voting available on Ardor, meets the requirements of Adel’s Blockchain incubator.
Adel has chosen to upgrade to the Ardor Blockchain for three key reasons:
- Enabling a unique parent chain and child chain architecture for project execution
- Adel’s project incubation will take advantage of Ardor’s robust voting system
- Ardor’s core-level security protects Adel’s intellectual property
Ardor is a Blockchain-as-a-service platform created by Jelurida that allows organizations to create their own Blockchain, known as a child chain. The child chain is secured by the Ardor parent chain and comes with a wide range of features currently found on Nxt.
The main benefit of the parent/child Blockchain structure is that it addresses Blockchain bloat, which makes digital transactions slow. The parent chain takes care of security, while the child chain handles the operation of the Blockchain.
Scalability is addressed with the innovative feature, which regularly removes transactional data from child chains while still maintaining the same security guarantees. By separating security and functions into the parent/child structure, Ardor provides a more useful and scalable Blockchain model compared to existing single token designs.
“We have been consistently impressed with Jelurida’s decentralized platform and development vision,” said Gabriel Dusil, Co-Founder of Adel, “Ardor’s robust security and comprehensive feature-set align well with our strategy. The Ardor platform provides an ideal environment for the Adel community to democratically vote and fund Blockchain start-ups, that will disrupt traditional industries.”
“After BitSwift last month, today we are very excited that Adel decided to join the growing Ardor ecosystem and we are confident that Ardor can provide a solid foundation for Adel’s projects and vision,” added Kristina Kalcheva, Managing Director of Jelurida. “Both Adel and Jelurida share the same goals of disruption and transformation within traditional industries and look forward to supporting each other.”