Review on Ignis by Benaiah A. Akinlade
Ignis main child chain: The firstborn child of Ardor chain
Ignis is a fully featured and permissionless main child chain of the Ardor platform which is hosted on Jelurida website
It has all features of Ardor available such as (transaction types and features). As the main child chain of Ardor, it has the ability to perform different account specific functions, like setting the account properties and multi-signature configurations which falls under account control. The good thing about this is that all these features facilitated by Ignis are accessible across all child chains.
The IGNIS token is traded on over 10 crypto exchanges such as Upbit, Bittrex, AlterDice, Indodax, Atomars, AEX, STEX, TOKOK, ProBit, and HitBTC to mention but a few. The token also trades in pairs with up to 5 cryptocurrencies. It exchanges with USD at 0.02017927
Ignis have over 20 different features which can all be found on the Jelurida website
1. Coin Exchange enables trading of all child chain tokens on the Ardor platform to each other and to the parent chain Ardor token.
2. Any investor can issue an asset on the Ignis child chain. The asset can represent a token meant for company shares or crowd funding as the issuer sees fit.
3. There is a Voting System allows investors to start polls on trending matters, on any topic they wish
4. Data Cloud feature enables Ignis users to upload data such as documents, text files, images, torrent files, among others to the blockchain.
5. Ignis has a Marketplace that is an open and fully decentralized store for digital or physical assets. You can put up any item for sale, by uploading the pictures of such items.
6. With the Ignis Monetary System, users can create and trade their currencies on the Ignis child chain.
7. Coin Shuffling is a privacy feature that gives users the opportunity to mix/shuffle assets, currencies (child chain token funds)
8. Messaging is used to explain the purpose of the transaction. It can contain an invoice or account number, or better still any information useful for both the sender and receiver.
More of these fascinating features can be found on the Jelurida website. These features indicate that Ignis is ready for serious business but I'm hopeful it doesnt get stuck under the limelight of Ardor
Pros
- IGNIS buy and sell orders are placed and matched completely on chain.
- It is used for daily transactions with low fees.
- Ignis supports advanced privacy mechanisms such as coin shuffling, and encrypted messages.
- Ignis can be used to experiment and build public applications on the Ardor platform
- Ignis can be used for stateless lightweight contract development.
- Voting feature on the blockchain ensures transparency
- The IGNIS token trades in pairs with a number of popular cryptocurrencies
- The token is available on an encouraging number of crypto exchanges
Cons
- It currently has a low trading value
- Ignis is stuck in the shadow of Ardor because it is a child chain
