What Is Iridium (IRD)? 

Iridium (IRD) is an anonymous, fair, and community-focused cryptocurrency. Stable and anonymous crypto coins have become the need of the hour to settle transactions on a blockchain. Iridium seeks to ensure that transactions powered by the crypto coin are secure and untraceable. The cryptocurrency uses ring signatures to aim to make certain that transactions are completely untraceable. Ring signature refers to a digital signature verifying transactions on behalf of a community while upholding anonymity. 

Iridium wishes to embrace fair mining of coins. The cryptocurrency encourages no pre-mining of coins, ICO (initial coin offerings), and token distribution to aim to ensure an even playing field by seeking to offer equal opportunity to every individual. This also rules out all scopes of providing the founders with unfair advantages. Iridium is primarily a community coin encouraging the users to participate in the development and mining of coins actively. The platform claims that IRD cryptocurrency is a rare coin with a limited supply. A cut-back in the supply of Iridium aims to ensure that the coin yields a higher value with time. 

As the whitepaper mentions, Iridium seeks to function not just as a cryptocurrency but as a global platform for secure e-commerce transactions. The need for a system to include cryptocurrency as a primary payment mode on e-commerce stores and WordPress is a priority of the platform. Iridium (IRD) seeks to provide comprehensive e-commerce solutions. The coin wishes to stand out as a decentralized and secure payment option on over 50 million websites via WooCommerce. IRD implements a bounty system to seek to encourage and reward miners well. Besides acknowledging miners' efforts, bounties enable users to get a clear idea of developing the coin and are rewarded to support the development of the ecosystem. The coin relies on the proof-of-work (PoW) mechanism, seeking to suggest that all token holders are equal and significant. Iridium seeks to encourage users to put coins in the mining pools and earn high returns. The coin envisions creating APIs to facilitate the integration of third-party products and technologies. API or application programming interface enables interaction and seamless exchange of data, trades, and technology between applications. 

History of Iridium (IRD) 

Iridium has a maximum total supply of 25 million IRD. The coin's whitepaper was released in June, 2018.