Review on Ignis by Aman Arora
Ignis network is an easiest way to create new child chains with ease with all the facilities of Parent Chain
Ignis was the first Child Chain of the platform Ardor. All the facilities available on Ardor algorithm is available on Ignis network .
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Ignis works on proof of stake instead of proof of work. Proof of work requires hardware to mine transaction and you get paid when a block is mined but that not in the case of proof of stake algorithm which consists of validators while they forge new node on blockchain.
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Ignis platform also support shuffling of coins on their nodes & encryption of messages securely with third parties. You just simply need to install the software & download the blockchain and start using the Api's.
Ignis transaction are stored in a ledger which can be easily verify and that is what is called decentralization. Proof of stake allows you build blockchain over the main Parent-Child Chain to issue tokens over the top of any coin exchange and pay rewards in the native token for using the coins issued on the Child Chain.
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You also get voting rights & every other feature available as it is a permissionless network and you have the control on account properties and multi-signature configurations accessible across all child chains.
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Ignis is listed on top exchanges like AEX, Bittrex and Hitbtc & have a very good volume with a total supply of 1B & Market cap of over 17 Millions .
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Pros
- Easy to access all the properties of Parent Chain with full control over Child Chain
- Proof of Stake algorithm means environment friendly and energy efficient
- EAsy to create blockhain & create coins with ease and the parent token using Parent Chain
Cons
- I see project has lot more potential and will be very helpful in deciding the new energy efficient blockchain
