Hello World! Introduce our new IgniteChain Upgrade & New Functionality
Introducing the new “IgniteChain”
With the same values but advanced features with the same goal but the latest technology.
Ignite Chain is going to be the next hub for a decentralized economy. We reached a significant step towards implementing our Blockchain functionality on Ignite, we upgrade new Blockchain features and their related technologies, the upgrade is meant to streamline the processing of transactions and make them more efficient in speed and cost.
IgniteChain is developed by IGT IT Solutions, where we are working together in collaboration with several ventures to make blockchain-powered FinTech solutions accessible for everyone around the globe. Our mutual goal is to serve every individual with ample resources to connect them to global finance.
Let’s see what’s new at Ignite Chain
Team Ignite started the aiming to deliver difference-making we are going to upgrade our Blockchain features.
Our Major Upgrade highlights is, We are increasing our Blockchain Nodes, Block speed, Consensus Algorithms, Coin supply, Gas fees, Ecosystem, UI/UX Design, Validator, Delegator, Dapps, Node Strategy, Genesis smart contract, and Rebate Protocol, which help low fees, high scalability, and hold themselves to the highest standard of security.
We are increasing our Blockchain Nodes it helps monitor the health and security of the Ignite Blockchain and validate the accuracy of transactions. it also contributes to the overall security of Ignite network.
Transaction speed is one of the prime factors in Blockchain. We will increase our Block speed which means, the better its ability is to transfer data from one party to the other and confirm transactions.
Ignite Consensus algorithms are designed to achieve reliability in a network involving multiple unreliable nodes. We have developed a new consensus by focusing on reward-based validation working along with Delegated Proof-of-Stake (DPoS) mechanism.
Validator and Delegator:
We will upgrade our Validator and Delegator system, if anyone wants to part with Ignite Validator then they must need to complete the process of voting from Delegators. Anyone can add a node In our Ignite system easily, if you didn’t want a full node then you can stake with the delegator so you can get the reward.
We have launched the Genesis block with Mainnet 2.0 going live. With this upgradation, Ignite Chain has integrated a new consensus called YANTRA and is powered by a Proof-of-Reward consensus mechanism.
Ignite block rewards are IGT awarded to miners for being the first to solve a complex math problem and creating a new block of verified IGT transactions.
Let’s move towards The good news is we will increase our IGT coin supply, our latest supply is 100M so, in this case, our existing investors we provide 2X Coins in our existing wallet. as well we change our IGT coin price from 3$ to 1.25$ and now talking about gas fees we change our gas fees from 0.000105$ to 0.0000525$.
With this incredible year, we had many major milestones were reached, and an explosion of innovation throughout the growing Ignite ecosystem. Ignite will continue to grow, There are many new features coming to the Ignite Hub, Take a Look at our Ecosystem Highlights.
We are building a Thriving Ecosystem on top of Ignite Chain to maximize the power of Decentralization.
Discover a wide variety of apps, built in the Ignite ecosystem by developers and contributors from across the globe.
Ignite wallet is a free, client-side interface helping you interact with ignite. Our easy-to-use, open-source platform allows you to generate wallets and so much more. We will provide a Web Wallet as well Mobile Wallet.
Ignite Chain is functional with every other blockchain with an in-built smart bridge contract that allows cross-chain transactions of assets seamlessly.
We’re excited to announce we will enable anyone to create and interact with IgniteChain DAO, user can interface to customize and launch a DAO in just a few steps.
And Finally, We update our beautiful and smooth UI/UX design that provides a better user experience for our Customers. Have a look at https://ignite.info/
We will Introduce our new upgrade IgniteChain on 29th May.
Don’t forget to share this post with Blockchain Community.
Let’s #BuildOnIgnite :)