What is IRISnet? IRISnet (IRIS) is a Blockchain project that set out to bring businesses together with blockchain technology. In this article, you can find answers to questions such as what is IRISnet, what it offers, what is IRIS coin, how to get it, what is it used for. As Kriptokoin.com, we have prepared it for you. Let’s examine the project together.
What is IRISnet?
Founded in 2019, IRISnet is a service protocol that allows inter-blockchain communication and data sharing. The protocol is designed to be a foundation for the next generation of decentralized applications and has a native cryptocurrency called IRIS coin. The project built with CosmosSDK enables cross-chain interoperability through a service protocol and allows users to access a variety of DeFi products. Users can trade assets across blockchains via the IRIS protocol. The network makes it possible to communicate and work together with other blockchains.
Protected by the Proof-of-Stake consensus mechanism, IRISnet does not allow only cross-chain asset transfer. In addition, it aims to allow users to access data and computing services on a global scale. Supporting NFTs, the project offers solutions for decentralized business applications. There are a number of leading applications developed within the protocol by the team behind the project. These applications are; It includes a marketplace that enables the trading of health data without compromising privacy, an exchange for the transfer and trading of digital assets, and finally, the service e-marketplace.
What is IRIS coin? What is it used for?
IRIS coin is a token that works as the native cryptocurrency of the IRISnet platform. There are versions of the token created with smart contracts on the Cosmos, Ethereum and Polygon blockchains. At the time of writing, IRIS coin had a market cap of $75 million and was ranked 451st on the overall cryptocurrency list. In addition, 1.2 billion IRISs were in circulation. The maximum supply of IRIS is not specified. Users use the token for various advantages and transactions within the protocol.
IRIS is a cryptocurrency with coin staking. IRIS holders secure the network by locking their assets into smart contracts. In return, the network gives token rewards to staking users. In addition, the default payment tool for “gas fee” paid for transactions performed on the network is IRIS. Users have to pay with IRIS to process transactions. IRIS also ensures the decentralization of the network. Using their assets, token holders can participate in the management of the platform, submit proposals to the community and vote on decisions to be taken. Service providers on the platform also use the token. These users get paid with IRIS for the services they provide.
How to get IRIS coin?
Currently IRIS coin; It is listed by crypto currency exchanges such as Binance, Huobi Global, Gate.io. Investors interested in the IRISnet project must first become a member of one of these exchanges. Fully registered investors can purchase the token by depositing a fiat currency such as dollars or lira into their wallets.
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