Ignis IGNIS

$0.0156
Market Cap $ 11.857 MM (#192)
24h Volume $ 14.757 K
Chg. 24h: 0.15%
Algo. score 2.8/5  (#792)
Show Quick Stats

Ignis project purpose and description

Ignis clarity of purpose

Ignis purpose and aspects

Public, permissionless child chain with lightweight contracts and 250+ APIs for launching dApps and services, secured by Ardor.

Short description

The first child chain of Ardor, Ignis uses the IGNIS token for its operation. All existing and well-tested Nxt blockchain features are available on the Ignis child chain, with multiple Ardor platform specific enhancements such as lightweight contracts and easy KYC/AML with built-in asset and account controls.

Abstract

Ardor is a “full blockchain-as-a-service” (Full BaaS) multi-chain platform that evolved from the time-tested Nxt blockchain. The mainnet went live on 01 January 2018. The unique parent-child chain architecture of Ardor, with a single security chain providing energy-efficient proof of stake consensus for multiple transactional “child chains,” enables three fundamental advantages – reduced blockchain bloat, increased scalability, and the ability to launch and host ready-to-use interconnected blockchains. ARDR tokens are used to secure the network through a process called, “forging.” Since all tokens have been distributed and the supply will never increase, “forging” nodes are rewarded from the transaction fees in each block of transactions. The advanced features and functionality available on Nxt were implemented on the public and permissionless Ignis child chain – along with new features such as lightweight contracts, account and asset controls, and composite phased transactions. Anyone can launch dApps and services using the features available on Ignis such as the decentralized exchange, issuing and trading digital assets, launching voting systems, and leveraging distributed cloud storage. “Bundlers” collect fees in the native child chain token, while paying ARDR to the Ardor parent chain to validate transactions. Using custom bundlers, app owners can sponsor end user fees for specific accounts, monetary supplies, and assets so end-users never need to interact directly with the blockchain. Transactions on the Ignis child chain are pruned (removed) after a set period of time, leaving only a cryptographic hash of the transaction. This keeps the blockchain size manageable for new nodes as they connect and attempt to synchronize. Archival nodes can bet set up for businesses and app owners to pull full transaction data as needed. All new child chains on the Ardor platform are compatible with one another, which means an app built on Ignis can interact with apps and services launched on each new child chain, assuming the owner of these new child chains allow it. This built-in interoperability is a major breakthrough for creating a truly business-friendly blockchain ecosystem.

Link to Roadmap: https://www.jelurida.com/ardor-roadmap https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf
Enjoying our data? We have spent over 4000 hours on Platform Development and Coin Research. Donations are welcome!
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We'll open source these formulas soon. Past performance is not necessarily indicative of future results. Read the full disclaimer here.
Dark Theme   Light Theme