THE BENEFITS OF DOMINIUM ON NXT BLOCKCHAIN NETWORK

INTRODUCTION

Bitcoin Network which is widely known as the blockchain 1.0 was highly criticized by several cryptographers and computer literates and prominent among them was J.R. Willett. It was under intensive observation and analysis that it was identified that bitcoin network has some set backs which only gave room to creating new blockchain network. This led to the creation of the Ethereum blockchain network which is known blockchain 2.0 and now it is one of the popular networks in the whole cryptospace. Along the line, several blockchain networks have been created all targeting a useful case in the cryptospace and seeking to provide solution to it on their network. Examples of these blockchain networks are Litecoin, Ripple, Stallar, NEO etc. Among all the blockchain networks available Dominium platform would run on the Nxt Blockchain but would operate on its child Chain which is Ardor network.

THE ESSENCE OF RUNNING DOMINIUM ON ARDOR NETWORK

Just as Satoshi Nakamoto was the anonymous name for the person who generated Bitcoin, Nxt network which was launched in November was developed by an anonymous person popularly known as BCNext. The Nxt project has undergone several developments in its development and management that it is currently owned by Jelurida BV and Kristina Kalcheva.

Nxt adopts the blockchain technology and have established a platform with numerous decentralized features on which other projects can run on. Nxt blockchain was developed from the grass root with the use of Java as its source code unlike the common thing that we see numerous altcoins do by rewriting the code of bitcoin. The Nxt blockchain has on its platform almost every feature that a decentralized platform needs to operate with. The Nxt platform has a Data Cloud system where users can store their documents and other sensitive information on its network which is free from any third-party access. In addition, it serves the purpose of Exchanging of Assets, and it also makes it possible for its members to Shuffle their coins to keep their transactions entirely secure and private.

As part of Nxt development and progress, the Nxt team has developed a child chain of its network known as Ardor which acts as a blockchain-as-a-service. Many crypto enthusiasts complain of the huge data capacity that new miners have to possess in order to contribute to networks such as Ethereum and Bitcoin but with the Ardor child chain of Nxt, users don’t have to necessary synchronize with the entire network of Nxt in order to operate. The framework of Ardor which comprises multiple transactions and single security chain allows it to perform the following functions.

Reduction of Blockchain Stampede

The blockchain technology has an incorruptible ledger system which records all transaction that occurs on its system. The crypto community is getting larger and large and this means that with every time there is an increase in number of transactions that are going to be conducted on the network. This sometimes results in overloading of transactions of the network and a common example is of both Bitcoin and Ethereum network. I quite remember about a month ago Ethereum network suffered such fate which led to increase cost of transaction on the Ethereum network hence several ICOs halted the transfer of their tokens due to this. This goes further to stall the progress of projects.

However, the problem blockchain stampede is solved on the Ardor child chain due to the use of multiple transactional chains for confirming transactions on its network. This would ensure that several chains on the network confirm different transaction for members as fast as possible.

Serving as a Host for other Networks

The Ethereum Network has become very popular because of the numerous ICOs that run on its network and this has generated a whole lot of problems for this Network in terms of speed of transaction, cost of transactions etc. Also, projects on this network would have to synchronize with the Ethereum Network in order to run actively on this network and this requires a huge space of storage.

The Ardor chain however saves users the hustle of going through all these problems by creating a platform which would serve to host other networks in a very feasible manner. First of all, the project would not have to synchronize with the entire blockchain of Ardor which is the Nxt Network but can move into full swing once established on the Ardor child. Ardor also provided a decentralized exchange which enables users of other platform the opportunity to trade with other users for their tokens.

All security features of the Ardor chain cover any of its units hence projects would not have to worry about enforcing and writing their own security codes since this is all covered on Ardor.

Enables Successful Transactions among different Cryptocurrencies.

The Ardor chain as we know from above that, it uses different transactional chains for conducting transactions on its platform also has a decentralized exchange which allows users to trade their native tokens for other tokens. This becomes possible because of the multiple chains of transactions that is enabled on the Ardor chain. This one of the features which makes it so suitable to host several projects such as Dominium on its platform.
The technology of Ardor beats most of the existing blockchain networks in the crypto community and Dominium project has therefore joined such a promising platform in the realization of its vision and mission for the crypto community.

TOKENS AND TOKEN SALES

ROADMAP

TEAM MEMBERS

Dominium Project was conceived by a group of ardent people who have identified several useful cases with which Dominium platform would solve. The individuals that make up this team are highly experienced people in their various fields of discipline and with it is with this skills and experience that they are going to see to the success of this project.

CONCLUSION

Dominium which is a decentralized platform for the listing and management of projects on the blockchain technology would run its operation on the Ardor network. Referring back to the features and benefits of the Ardor Network proves beyond all points that the Ardor Network is the best blockchain network to run its operations on.

Connect with the team of this project on the following lines:

Website: https://dominium.me/

Whitepaper: https://dominium.me/sites/default/files/Dominium%20White%20Paper%2020180710_0.pdf

Telegram: https://t.me/DominiumPlatform

Facebook: https://www.facebook.com/Dominium.me/

Twitter: https://twitter.com/Dominium_me

Medium: https://medium.com/dominium

Linkedin: https://www.linkedin.com/company/dominium.me/

Bitcointalk thread: https://bitcointalk.org/index.php?topic=4686685.0

Authorship

Bitcointalk username: Aponkye1

My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2216761