Home Altcoins News Ignis for Businesses Who Want To Issue an Asset No more Blockchain Bloating

Ignis for Businesses Who Want To Issue an Asset No more Blockchain Bloating

ignis
  • Ignis addresses issues of Blockchain bloating
  • Ignis has fully functional features
  • Ignis facilitates stateless lightweight smart contracts

The price of Ignis has been trending at $0.027 at the time of reporting. Ignis is the first child chain of Ardor.

Child chains are a lot similar to side chains.  The purpose of child chains is to help the network scale globally.  The child chain will, therefore, function as a separate entity with its native token.  However, it got synchronized with the global network architecture of the parent Ardor.

The Ardor website states:  “The Ardor Platform operates as a Blockchain-as-a-Service solution. Targeting businesses, Ardor offers individual Blockchain, known as child chains that are ready to install and implement. The most used and tested features are available out-of-the-box without coding or programming knowledge.”

Sydney Ifergan, the crypto expert, tweeted:  “Ignis and related child chains from Jelurida address the issue of Blockchain bloating.  Preventing bloating is a method to future proof the network while improving scalability. They are trying to solve it in a very fundamental way.”

Ignis Started as a Test Child Chain

Ignis started as a test chain used to establish the functionality of the child chains. It was used to identify how fast the network can run further to see whether it will clog up the parent network.

A child chain can define the value of its token.  Therefore, IGNIS can be further exchanged with any other coin through an Ardor decentralized coin exchange.  The transaction fees for the child chain are paid in its native token.  A business will be able to subsidize the transaction fees for the child chain in a way to facilitate zero payments for its users.

Ignis is the main public child chain, and it has fully functional features.  Further, businesses or projects will be able to create new child chains to suit their needs. Child chains in Ardor are dedicated to helping with individual blockchains.

Ignis – Permissionless

All the action happens on Ignis, while Ardor Chain facilitates the security of the whole network.  Ignis can do a lot of things for the use of individuals or by serving as a basis for the blockchain project.  Ignis consists of a fully decentralized asset exchange platform combined with other activities like, “voting, messaging, monetary system, the marketplace, data cloud, conditional execution of transactions, shuffling and more.”

The “stateless lightweight smart contracts” are used to automate calls to the platform’s APIs across child chains. It is further deployed exclusively on the Ignis child chain.

The Jelurida white paper details the goals of Ardor and Ignis. Ignis has all the features available in the Nxt blockchain. The Ardor Parent Chain and Child Chains share the same source code and provide for the same security guarantees.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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