Review on Ignis by Carlos Figueroa
Substring with varied decentralized systems.
Designed as a substring of Ardor, it will have the functionality to register and process transactions, as well as a voting system and decentralized asset exchanges that can be executed openly by anyone. Being able to interact in the Ignis chain, the advantages and benefits it offers are varied according to the type of business that you want to carry out, to the extent it will have technical documentation for the developers to be able to execute both light contracts and APIs in said system.
Having a chain that can be customized for a business or project, with the advantage of issuing an asset that will be partially backed by the Ignis currency, thus it will have as a means to be able to exchange natively or externally, but the speed and execution of it is very fast, perfect for micro projects that want to launch or issue an asset quickly and be able to use it as a basis for their project. Its functionality has distinguished it as a means to exercise a decentralized system such as asset exchange, decentralized voting systems that are in charge of executing simple surveys and to have an account control in Ignis, so that a certain group is in charge of accepting and reject transactions on the network. Ignis as a sub-project can be relevant to other chains and mainly projects that also allow functions that Ignis executes with, but the circumstances that Ignis offers can be much more scalable than other chains.
Pros
- Enables a large number of fully decentralized functions.
- Its secondary chain design allows customization of transactions around its smart transactions feature.
- The exchange integrated into your Ignis wallet, makes it easy to trade any asset represented in Ignis without the need for an outside business.
- Enables completely immutable on-chain data storage.
- Its asset issuance mechanism is ideal for projects with a low capital budget.
Cons
- Being linked to the main Ardor chain, a technical failure can be detrimental to both.
- The Ignis coin cannot be of sufficient support for the assets created in the secondary chain, given the negative price that Ignis reflects in the market.
