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Ignis (IGNIS) is the 695th largest cryptocurrency in the world by market cap, valued at $8,415,366. The current price of Ignis is $0.00842, which is 2.683% higher than yesterday. Prices have ranged between $0.00877433 and $0.00818774 over the past 24 hours. All prices are listed in US dollars and accurate as of January 26, 2023 05:01 UTC.
Ignis is the first child chain of the Ardor blockchain. The Ardor blockchain was launched in 2018 by a company called Jelurida.
The blockchain aims to tackle some of the issues that other blockchains have faced regarding scalability, congestion and customisation. To facilitate these solutions Ardor was developed using a parent-and-child internal structure. The Ardor parent chain takes on processing transactions and maintaining security, while child chains, including Ignis, are used for the creation of decentralized applications (dApps). Ignis was the first proof of concept child chain of Ardor. Jelurida ultimately aims to provide Consensus-as-a-service to clients that wish to take advantage of the new Ardor and child-chain architecture.
Ignis boasts a proof-of-stake design which makes the blockchain highly scalable. It allows users to process all of the transaction types that Ardor has to offer while offering a host of other benefits. Ignis is the only child chain that allows users to issue assets, modify trading permissions, issue stateless lightweight contracts and shuffle coins.
IGNIS is the native crypto token of the platform. Its primary function is to facilitate all transactions that take place across the network. Alongside transactions, it is also used for various governance-related purposes such as voting on protocol upgrades and modifications.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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