IgniteChain — Ready- to-use Enterprise Solution

Blockchain can replace today’s methods of sharing, storing, and accessing data by conducting transactions over digital networks.

IgniteChain is focusing at this stage on providing solutions for enterprises and businesses to help them scale work efficiency and data management.

Some of the ready-to-use enterprise solutions IgniteChain is offering are:

— Oracles
— Data Storage & Record Collection
— Token Issuer

1. Oracles

Oracles expand the types of digital agreements that blockchains can support by offering a universal gateway to off-chain resources while still upholding the valuable security properties of blockchains.

The solution to the oracle problem is extremely important because the vast majority of blockchain smart contract use cases require data from real-world events and what’s happening off-chain.

Major industries benefit from combining oracles and smart contracts, for example, such as asset prices for finance, weather information for news & media, randomness for gaming, IoT sensors for supply chain, ID verification for government, and much more.

2. Data Storage

The data stored throughout nodes gives blockchain storage security advantages. Encrypting data files and distributing it via a decentralized network makes it tougher for unauthorized entities to access or alter the data. There is no central authority who owns the keys to decrypt files and access control to encrypted files. The private keys are controlled absolutely through the user, making it not possible for any third party to access the files.

Blockchain-based storage lets in data quicker and more customizable storage systems and will increase the speed of retrieval and repetition. In addition, sharding makes the data secure so that not all nodes are able to view the contents of the complete file, presenting even more privacy.

3. Token Issuer

Tokenization could enable a formidable reduction in barriers to finance and management in enterprises, thereby encouraging the corporate industry for implementing and tokenizing the structure of company workflows like governance and equity distribution. Tokenization could foster asset liquidity by reducing the threshold for market entry with the minimum amount of capital for transactions.

Other prolific value providing an advantage in tokenization example is the facility of simpler interaction with regulators for the adoption of uniform standards. The adoption of tokenization depends considerably on the detailed impression of its practical use cases such as governance, equity offering, finance, transactions, etc.

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Ignite Blockchain

Ignite Blockchain

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