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Poloniex, BTC38, and Bittrex agree to distribute Ardor tokens to customers
The Nxt core development team last month announced a new child chain platform, Ardor, which will allow anyone to get into the blockchain space.
Ardor uses child chains and incorporates all of Nxt’s latest blockchain innovations while being backed by the core developers of Nxt. Anyone will be able to create their own solutions using the blockchain technology with the Ardor child chains.
Nxt is an advanced, open and completely decentralized application platform which builds on and improves the basic functionality of the first wave of pioneering crypto-currencies. The Nxt platform includes many advanced features, including the NXT digital currency, which currently has a market capitalization of $18.77 million (at press time). NXT acts as the fuel for the Nxt eco-system. It can be used as an external currency and even internally to power Nxt features.
The Nxt Foundation, a non-profit organisation that provides education and information about the Nxt Blockchain Platform, has now announced that three major exchanges for NXT have agreed to distribute Ardor tokens to customers. Poloniex, BTC38, and Bittrex will all run internal snapshots of their customer NXT balances synchronized with the main blockchain. The Ardor tokens will then be distributed to their rightful owners at a ratio of 1 Ardor token for 1 NXT.
The exchanges are prepared for new customers outside the fintech and investment world looking to purchase Nxt tokens for future Ardor tokens with the introduction of fiat currency exchange. Retail customers will now be able to access the Ardor platform and purchase tokens using fiat currency.
Investors and traders alike will be able to receive Ardor tokens while trading NXT knowing they will automatically get Ardor tokens from NXT through a snapshotting process. The snapshotting period runs from July 14th to October 12th finishing on block 1,000,000. Snapshots of NXT balances will be taken every hour, with the total average being distributed at the end of the snapshotting.
“This is a really exciting time for Nxt users and people who wouldn’t normally engage with the cryptocurrency world. Many of the concerns our users had with regard to scalability and the ability to customise individual chains using the central Blockchain have been addressed with the design of Ardor. The introduction of Fiat currency exchange will enable retail investors and people beyond the Fintech and investment world to access the benefits of a decentralised asset exchange in these uncertain times”, said Bas Wisselink, Director, Nxt Foundation.
Ardor token holders will then be able to trade them as they wish until the launch of Ardor in Q3 2017. Other exchanges are in contact with the Nxt Foundation setting up snapshotting for their customers.