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Jelurida: All about Blockchain Scalability and Decentralization Strategy
What is Jelurida?
Jelurida is a blockchain software company that develops and maintains the Nxt and Ardor blockchains since 2013. Jelurida’s developers are experts in public and decentralized DLT, proof-of-stake consensus algorithm, and multi-chain architecture. This unique architecture also allows a consensus-as-a-service model and higher performance and scalability among the current decentralized platforms available in the market.
Jelurida’s core business is making the adoption of blockchain technology easy, fast, and friendly. The primary technology focus for the last 7 years has been on developing decentralized blockchain platforms, with priority in scalability, security, and interoperability (detailed below).
What are the main problems approached by Jelurida?
The Ardor multi-chain platform, Jelurida’s most advanced and flagship product, was launched as a fully working product in January 2018, after 2 years of intensive development. Since then, Ardor has proved an impeccable level of security, one of the key aspects of this type of technology. Ardor also solves the main problems that the sector is facing right now: lack of scalability, low performance referred to the number of transactions per second, and the lack of interoperability among blockchains.
How does Ardor solve these main problems?
Scalability: Ardor’s architecture allows child chain transactions to be safely removed (“pruned”) from the system once they are no longer needed, and their hashes are included in the parent chain. Parallel processing of the transactions of different child chains is being researched – to increase the overall network throughput even more.
Security: Ardor uses a 100% proof-of-stake (PoS) consensus algorithm. This protocol allows the platform to be extremely energy efficient and not dependent on expensive hardware. It makes Ardor equally suitable for public and private implementations that efficiently work on any desktop or mobile device.
Interoperability: As part of the Ardor ecosystem, all child chains are interconnected, and their native tokens can be traded on the built-in, fully decentralized coin exchange. Also, many objects, such as assets, account properties, currencies, etc., are “global” for the whole ecosystem and can be accessed from any child chain. We have already tested the integration with protocols such as ILP (Interledger Protocol), which we presented in the ITU’s Workshop on DLT Scalability and Interoperability on August 2nd, 2019, in Geneva.
Atomic swaps with other blockchain protocols are also possible thanks to the advanced conditional transactions, where a hashed secret can determine whether the transaction is executed or not. In order to connect to other non-blockchain systems, lightweight oracles can be developed in Java, fully integrated with the software.
What is the main technology innovation offered by Jelurida from a technical point of view?
Jelurida is pioneering the multi-chain architecture in the blockchain sector. Something that others are still pursuing or planning to develop. A multi-chain architecture is a software architecture in which several chains have different roles. On one side, there is a parent chain, the Ardor parent chain, whose primary role is to keep the security of the system and perform the consensus protocol. The Ardor parent chain is a public network backed up by a robust community born in 2013 as well as corporations and different entities, which uses the Proof-of-Stake consensus protocol.
On the other hand, there are child chains that can have decentralized applications and smart contracts. The Ardor child chains are independent chains that cannot perform any consensus algorithm, so they rely on the security of the Ardor parent chain. This is called consensus-as-a-service. The way an Ardor child chain relies on the security on the parent chain is through a process called “bundling” in which a bundler groups 100 child chain transactions from a child chain into one single transaction on the Ardor chain.
This unique architecture opens innovative ways to approach the problems of the sector, such as scalability, performance (transactions/seconds), or the painful user-transactions fees. Ardor allows companies to sponsor the user transaction fees by creating a bundler and grouping their transactions to be broadcasted to the Ardor parent chain so that they can be included in a block through the decentralized PoS protocol.
Another new advantage of the parent-child chain architecture is the possibility to set up permissions in a child chain. This is an innovative way to provide permissioned chains with private administration roles that can be delegated to another party (i.e. Road and Transport Authority) where participants will maintain the integrity, security, and transparency of a well-established public network.
What do customers value the most from Ardor technology?
Thanks to the unique consensus-as-a-service model offered by Ardor, companies building decentralized app can focus on their core business and forget about the protocol of consensus and the maintenance of the decentralized infrastructure. The revolutionary parent/child chain architecture that increases scalability and allows interoperability is also very valued. However, the extensive set of built-in features safe time on development to our customers, which love the out-of-the-box solution provided by Ardor.
What are the key industries Jelurida is focused on? Who are Jelurida’s main customers?
Over the years, team members of Jelurida have been at the forefront of developing new technologies to address wide-ranging challenges associated with emerging technologies, from the development of new features to the implementation of custom technologies for various companies, spanning both short-term and long-term needs.
Every challenge allows Jelurida to work out solutions and write comprehensive technical documentation about it. The main industries in which Jeluridda is active are:
- FinTech (digital assets, stable coins, cross-border transactions, e-remittances; DeFi, microloans, currency exchanges). An example of e-remittances implemented in Ardor is the Singaporean Fintech company Coalculus.
- Real estate (tokenization, asset management, and real estate funds, property sale and title assignment, payments, and leasing). An example is Max Property Group.
- Tokenization related to industries such as mobility, entertainment, gaming, marketplaces, rewards, ticketing, art, loyalty points, like Triffic, Cycle4Value, or Tarasca.
- Municipal services such as electronic voting, postal services, utility management.
Jelurida’s customers are companies and institutions that are building technology applications on top of the decentralized infrastructure. Our multidisciplinary team covers expertise in corporate business development as well as small and medium companies. Some of our corporate customers are Henkel, Indra, Toyota, Casinos Austria, Austrian National Office of Tourism, Malta Information Technology Agency.
How to get in contact with Jelurida?
The best way to get in contact with Jelurida is the [email protected] email address. The main social media channel maintained by the company is Twitter and Slack. For more information about their products and services, you can visit their website.
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