What is Ignite Blockchain?
What is Ignite Blockchain?
Ignite blockchain is a series of records, time-stamped and immutable, operated by decentralized servers, also known as nodes . A blockchain protocol defines how a network of nodes communicate and how new blocks (containing signed transactions) are added to the chain. There are, of course, various breeds of protocols–each one deploying their own flavor of performance and incentives. Regardless of the flavor, blockchains share invariants that can be used as foundations for building new economic systems.

Through cryptographic algorithms, data contained within the blockchain is codified and immutable–meaning that it cannot be changed or deleted. The very nature of blockchain is such that any attempt to change an earlier transaction would create a cascading effect through the rest of the chain, breaking consistency.
This feature provides for a tamper-proof record that can be used to represent anything from bank balances to the results of a political poll. More advanced protocols, like ThunderCore, have “if-this-than-that” logic trees to enable programs called smart contracts. As mentioned above, these smart contracts can directly control the transfer of assets between parties under specified conditions without an intermediary. The rules of these interactions are set down in code and are followed as though law–hence the common refrain: code is law.

While some protocols are permissionless, allowing any computer (node) to join their network, and others are permissioned, maintaining a vetting mechanism to only allow “approved” computers to participate. However, almost all blockchain protocols exist as an open-source software project. Like ThunderCore, these protocols are building economic systems. By nature, robust economic systems are those that allow for a free flow of value into and out of the system.
Furthermore, a blockchain profits from allowing as many developers and participants as possible to access, review, use and develop its code. That way any consumer, developer or business can use the protocol, build on the network and add value to the system by deploying their services on top of it. Open access ensures that the barriers to entry are as low as possible and encourages as many new players and entrants into the field to compete for users–improving the overall value of the system.

A network of computers (nodes) is required to support a blockchain network. This is not because the network requires a massive amount of processing power. Rather, as there are more copies, the blockchain becomes more distributed, robust, and stronger against faults and attacks such as network outage, collusion or corruption.
Arguably, decentralization is the core value that started the blockchain revolution. It has become increasingly apparent that the centralization of the web by governments and corporations comes at an unavoidable cost on privacy, control, and efficiency. Modern techniques in economics and cryptography enable blockchain to challenge the existing status quo and provide alternatives giving full agency to its users and resilience against censorship, corruption and failure.
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