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5 May 2023
Ironfish has announced that it will move to the mainnet as of April 20. So what exactly is Ironfish (IRON) Coin and how to get it? Here are […]Read morePowered by: Coin Meoow
Ironfish has announced that it will move to the mainnet as of April 20. So what exactly is Ironfish (IRON) Coin and how to get it? Here are […]
23 April 2023
5 May 2023
Ironfish has announced that it will move to the mainnet as of April 20. So what exactly is Ironfish (IRON) Coin and how to get it? Here are all the details on Coin Meoow!
Start Trading Ironfish Now Get Bonus!
What is Ironfish?
Iron Fish is a decentralized, proof-of-work ( PoW ) based, censorship-proof and publicly accessible blockchain project. It is designed to support strong privacy guarantees in every transaction. We all believe that privacy is a fundamental requirement to protect the user and expand the use of cryptocurrency, just as the invention of the SSL/TLS layer in the 90s paved the way for e-commerce and benefited countless industries.
It was designed from the ground up to be a new cryptocurrency to enable easy-to-use, fully private payments by closely following the Sapling protocol . Each account is equipped with a view key to give the owner read-only permission for that account’s details.
With this protocol, previous full node availability models are challenged. The Iron Fish network layer supports WebSockets and WebRTC, making it trivial for all users to establish a true P2P connection with no further setup requirements . The first Iron Fish implementation was built so that it can be extended to run a full node directly in the browser in future iterations. And the focus is on lowering the barrier to entry so that anyone with a computer feels comfortable enough to run a full node.
Regardless of their feature set, all blockchains have six main components: network layer, storage layer, mining (or block generation mechanism), accounting, transaction creation, and consensus (rules for accepting new blocks). Each of these components is listed below;
- Networking : This section covers basic networking stack, initialization sequence, message types, and gossip protocol implementation.
- Storage: The Storage section introduces the reader to our first implementation of the main data structures and models for Iron Fish and how the storage tier is accessible in both the CLI and browser full node application.
- Mining: The Mining section explains how new blocks are built with the required randomness for proof-of-work (PoW) as well as how miners calculate rewards.
- Account Creation: The Account Creation section explains how to create Iron Fish accounts following the Sapling protocol and explains the uses of all the essential components for an account.
- Transaction Creation: Iron Fish transactions also closely follow the Sapling protocol, and this section explains exactly where and how zero-knowledge proofs are applied, how transaction fees are included, and how to balance and verify any existing transactions.
- Validation and Consensus: Finally, the final section ties everything together by outlining the rules for how to accept new blocks containing user transactions.
Ironfish is a Tier-1 chain based on Proof of Work. Each Iron Fish transaction is encrypted and sensitive user information about the sender, receiver, or transaction amount is hidden with accompanying zero-knowledge proof (ZKP). Every Iron Fish wallet has a private key, public key, and a display key. The creator of the wallet has the ability to share this display key and reveal the transaction history.
What is Iron Coin, How to Get It?
IRON Coin is the Iron Fish network cryptocurrency. A swap serves as currency for transaction fees and a reward to miners on the network.
For your Iron Coin purchases, you will usually need to buy major crypto assets such as USDT , Bitcoin , Ethereum . You can start your registration and earn Bonus by using the leading cryptocurrency exchange Binance.
|Information found on CoinMeoow is those of writers quoted. It does not represent the opinions of CoinMeoow on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.|
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