What is Ignis?

Ignis (IGNIS) is a unique cryptocurrency that operates within the Ardor blockchain platform. It is the first child chain of Ardor and is unrestricted and decentralized, inheriting all features currently available on the Nxt blockchain. Ignis aims to provide a platform for large corporations and small-to-medium enterprises (SMEs) to have a child chain with ready-to-use features, instead of creating their own blockchain and developing features from scratch. This approach aims to implement child chains in a cost-effective way without compromising their security, which is guaranteed by the parent Ardor chain.

How does Ignis work?

Ignis operates within the Ardor blockchain platform, which uses a unique parent-child chain architecture. The parent chain, Ardor, is responsible for network security and processing, while the child chains, like Ignis, handle operational transactions such as creating assets, voting on polls, and sending messages. This unique architecture allows Ignis to focus on operational transactions, while Ardor ensures the security of the network. This division of labor between the parent and child chains aims to enhance efficiency and security.

What are the potential use cases for Ignis?

Ignis aims to provide a platform for various organizations, such as public entities, enterprises, consortiums, research institutions, and financial service providers. It offers a wide range of features and functionality, including the ability to create and trade assets, list and buy digital goods, create polls with flexible vote counting options, set up conditional transaction execution, assign properties to accounts, send encrypted messages, and register aliases. These features make Ignis a versatile platform that can be used in a variety of sectors, from finance to research and development.

What is the history of Ignis?

Ignis was introduced as a part of the Ardor blockchain platform, which evolved from the time-tested Nxt blockchain. The development team behind Nxt and Ardor decided to conduct a crowdsale for 50% of IGNIS – the token of Ignis, the first Ardor child chain. The Ignis child chain was launched with the aim of being completely unrestricted and decentralized, inheriting all features and functionality which currently exist on the Nxt blockchain. The introduction of Ignis marked a significant milestone in the evolution of the Ardor platform, as it was the first child chain to be launched.