I've changed my rating to 3 stars after doing more digging and seeing more potential in this project with regard to scalability and privacy. Also the PoD aspect is pretty cool.
IronFish (IRON) is a privacy-oriented, Layer-1, Proof-of-Work (PoW) project that launched its mainnet on 20 April 2023. Its transactions are encrypted using zero-knowledge proof (zk-SNARKs). It is compared by some to Kaspa given that its mining algorithm is GPU-intensive. It can also be compared to Z Cash or Monero as they are all Silo chains.
It is backed by some big names including Andreessen Horowitz, Sequoia and Electric Capital. This and the fact that premining occured (42,000,000 that will slowly be unlocked which is approximately 16.345% of the max supply (256,970,400 tokens), however, is leading to some people on social media to not trust it and see it as a rug pull. Some miners are saying that the mining isn't currently profitable. I cannot confirm that.
I've spotlighted this project given the strong backing in case others are more aware of the potential here. Maybe this is the next hidden gem in the mining/privacy narrative? Show Less
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