Iron Fish
Iron Fish is a privacy-focused blockchain platform that encrypts every transaction using zk-SNARK technology and supports multi-asset functionality. Launched on April 20, 2023, it uses Proof-of-Work consensus and its native cryptocurrency is $IRON.
Overview of Iron Fish
Iron Fish is a blockchain platform designed to provide privacy for every transaction by encrypting sensitive asset information. Launched on April 20, 2023, Iron Fish uses zk-SNARK technology to ensure that transactions remain confidential. The platform employs Proof-of-Work (PoW) as its consensus mechanism and is powered by a global network of miners and nodes, making it censorship-resistant and resilient.
Technology and Encryption
Iron Fish integrates zk-SNARK technology at the foundation of its protocol, enabling encrypted transactions that shield sensitive information. The platform also employs a custom hashing algorithm called FishHash, designed to be memory hard and to perform equally across different device categories. Additionally, Iron Fish supports multisignature transactions using the Flexible Round-Optimized Schnorr Threshold (FROST) Protocol.
Multi-Asset Support and Interoperability
Iron Fish supports multi-asset functionality, allowing bridge providers to transfer any crypto asset to the Iron Fish network for private transactions. This makes Iron Fish a potential privacy layer for all crypto assets, enabling assets from other chains to benefit from its privacy features. The company's ecosystem also includes various wallets, tools, and integrations to support these functionalities.
Governance and Community Involvement
Iron Fish has a governance structure that allows community members to submit proposals for changes to the core protocol. The Iron Fish Foundation plays a significant role in guiding the ecosystem towards premier crypto privacy through partnerships, grants, and events. Additionally, Iron Fish offers grants for projects that aim to enhance the ecosystem, improve user experience, or increase interoperability.
Iron Fish Mainnet Launch and Testnet
Iron Fish launched its mainnet on April 20, 2023. Before that, an incentivized testnet ran from December 2021 to February 2023, processing over 39 million fully shielded transactions during Phase 2. This extensive testing phase helped refine the platform and ensure its robustness before the mainnet launch. The genesis block of Iron Fish includes 42 million tokens, with aims for a terminal supply of 256,970,400 coins.