Review on Ignis by Fanuel PORPORTY
Ignis, the first children's chain built on Ardor
Ignis is the first “child chain” in the Ardor blockchain to have all of the existing NXT functionality and other Ardor-specific enhancements. Ardor is therefore a new generation blockchain which allows the addition of so-called "child" channels. Ardor acts as a mother chain which processes transactions via a “proof of stake” (POS) consensus mechanism. This mechanism ensures the security and scalability of its underlying child chains. On children's channels, transaction fees are paid in native tokens, so users do not need to own Ardor tokens. Ardor tokens were distributed via an automatic mechanism to NXT holders.
In the Ardor ecosystem, there will be several child chains that may own all or part of the mother chain. Ardor child chains are a new technology where inter-chain transactions can be easily performed. In fact, child chains are closely integrated into the Ardor parental chain. It’s also the only children's channel with no restrictions. The other child chain tokens will likely not have all of the features that are possible, because owners can turn off features such as the decentralized market in favor of a centralized market. “Classic” children's channels can be authorized, comply with KYC / AML law or be adapted to local regulations (securities). But the Ignis children's channel is completely free and will have no restrictions.
Finally, thanks to the parent / child chain ecosystem, tokens and assets can be exchanged between chains, allowing users to directly exchange IGNIS tokens for ARDR chain tokens. The notion of “child chain” is considered to be a new generation blockchain technology in which the smaller block chains are simultaneously independent in their characteristics while continuing to exist and acquire the qualities of a parent blockchain which is larger . The concept of child chains is expected to help larger blockchains that face scalability issues ... which is one of the most pressing issues for blockchains. Ardor and Ignis represent a convincing possible solution to these problems. Generally, Ignis is considered a test coin for this blockchain model, so its release on a major crypto exchange is an important step that Ardor devotees have been waiting for since its announcement.
Pros
- Ardor's and Ignis' technology holds great promise as it is the first project to use the parental channel / child channel functionality. Also, there is a large community behind the Ignis developments. Thus, we already have a relative adoption for the token.
- Most companies could probably benefit from a blockchain solution in one way or another, and Ardor is potentially one of the simplest and most cost-effective ways for a company to get an extremely flexible and which works
- It should be noted that many aspects of the Ardor blockchain have already proven their value. NXT is now “old” by cryptocurrency standards - it was created in 2013. NXT is a token that has proven its functionality and reliability since then, so Ardor and Ignis blockchains are likely to work with similar reliability .
Cons
- It also makes it difficult to predict the eventual value of the tokens. It largely depends on what Ardor sees and the types of applications it is used for.
