Iron fish — new chain, new coin.
The article is devoted to the short description of Iron Fish — a new blockchain with strong privacy guarantees.
Hello friends and welcome to my new article. But to start with, I want to touch on quite a different problem, because I highly need your help.
🇺🇦
I’m from Ukraine. We are in war with the Russian Federation. They attract our cities, our people. I moved to a safe place with my child, but still want to do the best I can. I want to make the world know. Please share this links among the net to make the world know and help:
- The situation: https://www.theguardian.com/world/2022/feb/28/russias-war-in-ukraine-complete-guide-in-maps-video-and-pictures
- Why Ukraine is important: https://m.facebook.com/story.php?story_fbid=1795335387322592&id=100005384431197
- To send money to Ukrainian soldiers and volunteers: https://savelife.in.ua/en/donate/
Thanks for your attention! Let’s the peace come to our world!
🇺🇦
Back to Iron Fish
Iron Fish is a new chain that focuses on the privacy of its data. Why does privacy matter?
For years and years, we were giving up our privacy. I remember that first were group chats, then we added photos on our life to the global overview, then went video, etc. We can really know people we have never seen in real life or talked to.
Closer to the present time, we have all our life online! Documents, bank cards, tracking of our movement. It is good and bad at a time: on the one hand — easy access, individual recommendations and data provision, great usability; on the other hand — security of data.
While blockchain is concerned, we must start thinking about privacy issues. Blockchain is mainly about money and smart contracts — this stuff you would like to have private in the first place, I suppose.
Here comes Iron Fish as a good idea.
Features and functions
The main features of Iron Fish, among privacy, are:
- Decentralized
- Proof of work
- Publicly accessible
Decentralized is a custom feature of blockchain networks. It means that all data and governance is not centred in one point, but distributed among the whole net.
Proof of work is the blockchain consensus model that takes into account complex mathematics algorithms and computer power to solve cryptographic equations.
Publicly accessible blockchain is permissionless, so everyone can take part in network functioning and governance.
Cryptocurrency
Iron Fish is a new cryptocurrency. It is based on the Sapling protocol and zk-SNARK.
Iron Fish currency features:
- Easy to use
- Fully private payments
- Full node usability
- True p2p connection.
What’s inside
As mentioned above, to make it work two technologies are used: zk-SNARK, Sapling protocol.
Sapling protocol enables privacy transactions that need approximately 0,5s to be crafted and ~10ms to verify it on a regular PC.
Zk-SNARK is a kind of proof of work technology which ensures that while a transaction is being computed on third-party hardware, it won’t be revealed to that third part in any way.
Team
So, Iron Fish is a young project with a new team. The founder and CEO of the project is Elena Nadolinsky. She started her career in 2012 at Microsoft, so has nearly 10 years of engineering experience.
According to the official data, the team consists of 8 people. Mainly they are engineers. Anyway, I think that the most important for you is that the Iron Fish is looking for specialists to make their team even stronger. Details in here: https://ironfish.network/careers/
If you want to be engaged in the other way, the testnet is here: https://testnet.ironfish.network/about
To conclude, I’ve decided to reveal my point of view. While writing this article, I understood that Iron Fish looks like a fresh and reliable project. Privacy matters, and Iron Fish decently knows how to bring it to blockchain.
Sources
Official website — https://ironfish.network/
Official twitter — https://twitter.com/ironfishcrypto
Testnet — https://testnet.ironfish.network/about
Whitepaper — https://ironfish.network/docs/whitepaper/1_introduction
Sapling protocol — https://research-development.nomadic-labs.com/sapling-integration-in-tezos-tech-preview.html#:~:text=Sapling%20is%20a%20protocol%20enabling,with%20the%20Zerocoin%20seminal%20paper.
