The Whitepaper for Ardor can be found HERE.
Who is behind it?
Oh well, this was a bad one to start with. In 2013, an anonymous developer built and launched Nxt. The intellectual property of Nxt is owned by a company called Jelurida. This company has launched a second platform, largely based on the technology behind Nxt. This is Ardor. Until today, the developer behind Nxt is unknown. Word is, he is also the guy behind IOTA. Jelurida as a company does exist and the people behind it are also real. (This is no unimportant detail, trust me.)
What technology is it based on?
As previously said, Ardor is largely based on Nxt. The main idea behind Nxt was to create a much more versatile and scaleable technology then BTC was at the time (and still is...). Ardor uses proof of stake, BTC uses proof of work. Or in other words, the subject with the power to manipulate transactions in the BTC-network needs at least 51% of all the computing power. In the Ardor/Nxt-Ecosystem, the subject owing 51% of all coins can manipulate transactions. Using PoS, Ardor doesnt need thousands of GPUs crying for mercy to further develop the chain. Nxt/Ardor also offers a variety of useful services like messaging and voting, to mention two of many more. Ardor uses all these services and makes them more universal by offering the Nxt-technology in the form of multiple child-chains to companies.
Does anybody really need it?
So why do we need Ardor? The idea behind Ardor is to make the technology of Nxt more accessible for companies or developers. If you need or want to use blockchain technology in your business, instead of setting up your own system, you can just build on the Ardor parent chain. All transactions are proven by the parent chain, which makes the child chains extremely fast and secure, even if only a small number of people use the child chain.
So is it shit?
The technology behind Ardor is solid and proven. That alone doesnt make it not a shitcoin though. My main concern is the Ardor coin itself. If BigSomething Inc. decides to use Ardor technology to implement a blockchain application in their firm, they need to pay fees for the security of the parent chain. The value of the Ardor coin will rise through the number and size of child chains, as these chains have to pay the mentioned fees, which ultimatively will results in profit for the people holding ARDR.
The mechanisms for Ardor to rise in value are therefore industry partners. Every partner using the technology is going to yield profits in the future for subjects owing ARDR. Even if Blockchain technology is incredibly on vogue at the moment, only the future will tell us how large the actual impact will be.
Ardor is much faster and probably more secure than BTC. It is based on Nxt and aims to give mostly corporate entities the tools to build blockchain-based applications in form of child chains to the Ardor parent chain. People owning Ardor will earn money if these entities use the child chains. Solid tech, actual team, nice real-world applications.
Definitely not shit. Actually one of the solid coins in my portfolio, with all the credentials needed to last a while. The question whether companies are actually going to use this platform remains open though.