Review on Ignis by Praise Olagbadun
I call It The Ardor Junior
The Ignis is a project that happens to be the main child chain of the Ardor platform, it features everyday transactions at an affordable cost and was launched in the year 2018. It stores all the transactions made on the Ardor platform.
The project has its applications available on both the mobile and desktop devices, making it accessible by many. I managed to use the application on my Android mobile device and enjoyed the fact that the platform makes use of advanced technology to provide the best they can give to their users. It makes use of the Proof of Stake (PoS) algorithm which happens to be more advanced when compared to the other, the Proof of Work (PoW) in ways like: Unlike the Proof of Work, the Proof of Stake consists of validators instead of miners who help in forging new node into the blockchain. It also supports privacy mechanisms like coin shuffling and encrypted messages which can be securely shared with third parties. It also allows for rapid development and deployment of contracts (Lightweight contracts) which is much safer than the Traditional stateful smart contract as broken or malicious contracts don't cause harm to the mobile network but at most, the nodes on which it runs.
It can also be used both privately and publicly due to the fact that it supports mult signature control, making it possible for more than one person to access just one account.
Pros
- It allows for coin shuffling which is an algorithm that allows user to shuffle equal amounts of tokens
- Can be used by both public and private organizations as it allows multi signature control
- Offers users nice security system
- Works with the latest technology systems
Cons
- The project has a very low market value of about $0.02 and is sometimes used as a gambling token
