Binance effect: Ardor [ADAR], the service platform spikes by 40%

On 18th July, Binance, the multi-language cryptocurrency exchange, officially announced the listing of Ardor [ARDR], a blockchain-as-a-service-platform. The announcement read that Binance will open trading for ARDR/Binance coin [BNB], ARDR/Bitcoin [BTC] and ARDR/Ethereum [ETH] trading pairs at 11:00 AM [UTC] on 18th July 2018.

Binance’s tweet about Ardor listing | Source: Twitter

Ardor was recently seen transacting at a price of $0.14 with a market cap of $147 million. It stood at #66 ranking as per the CoinMarketCap stats.

Ardor’s trade details as on 15th July | Source: CoinMarketCap

ADAR at press time is trading at price of $0.23 with a market cap of $232 million and has seen a rise of 40.94% in a span of 24 hours and 50.80% in the past week. The ranking has gone up from the 66th position to the 56th on CoinMarketCap.

Ardor’s trade details as on 18th July | Source: CoinMarketCap

Ardor is a blockchain platform where businesses can structure their own blockchains “without any need to code or secure it themselves”. Ardor refers to their platform as a ‘built-in-exchange’ between other blockchains on the platform as they facilitate an easy exchange of tokens with other users that includes an exchange of fiat pegged tokens like AEUR, the Ardor based Euro secured child chain token.

Ardor platform has features like:

• Parent-child chain architecture: The feature of the Ardor platform lets companies build their products and services employing something called as a ‘child-chains’ [Child- the new chains built by companies] while relying on the security provided by the parent blockchain.
• Energy efficiency: The Ardor Platform utilizes the Proof-of-Stake [PoS] consensus algorithm which reduces mining competition, in turn, reducing the energy consumption.
• Blockchain bloat solution: Child-chain transactions can be removed from the blockchain once they are confirmed to keep the actual blockchain lightweight and efficient.
• Reliable and easy to use blockchain: Ardor is built on top of NXT’s four years of production experience and it is developed in Java.

Ardor’s developers created Ignis, their first child-chain, in order to test Ardor’s capabilities. Ignis is said to implement all of the customizable features of Ardor that come from the ‘Nxt’ code base, an advanced blockchain platform. Essentially, Ignis is based on proof of concept and could be the first of many more child chains on the Ardor platform.

Octavianus SG, a Twitter user commented:

“finally the best #blockchain has been added to binance #btc #bitcoin $ARDR $IGNIS #childchain #pos.”

Another Twitter user, danhhit, said:

“List btcp please !!!!”