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9/29/2022, 12:09:23 PM

Keep an eye on IRISnet

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IRISnet is on the rise this week.

The price of IRISnet has risen by 0.45% in the past 7 days. The price increased by 2.82% in the last 24 hours. In just the past hour, the price grew by 0.08%. The current price is $0.018602 per IRIS. IRISnet is 94.19% below the all time high of $0.32.

The current circulating supply is 1,383,418,941.573 IRIS.


What Is IRISnet (IRIS)?

IRISnet (IRIS) is a protocol designed to be the foundation for next-generation applications. IRISnet permits token transfers across multiple blockchain networks. The main goal of IRISnet is to deliver a blockchain-based open network to small and medium companies that are offering a wide variety of services.

As per its whitepaper, blockchain technology is still in its early stages. As with any new technology, there are defects. These include narrow performance and unstructured governance mechanisms. Presently, these defects make it challenging for blockchains to assist real-world distributed business collaboration. IRISnet intends to improve the current blockchain technology and make it feasible to allow businesses to provide their services and earn rewards in an open network. 

IRIS network is developed on top of Cosmos and Tendermint to solve the problems around existing blockchain networks. Cosmos is a network of multiple independent blockchains, called zones. Each zone is powered by the Tendermint protocol, which provides a high-performance, consistent, and secure engine, allowing a hold over malicious behaviours within the network.

IRIS is the native fee token for all transactions on IRISnet. One of the benefits for IRIS token holders is that holders participate in governance by creating and voting for governance proposals. Furthermore, there are two types of tokens expected to support IRISnet's operation: 

  • Staking token – IRISnet's native token for staking. 

  • Fee token - There are two types:

  1. Network fee token is for payment to validators in maintaining the ledger and spam prevention.

  2. Service fee token is for payment to service providers.

History of IRISnet (IRIS)

IRISnet was developed and designed by the tech experts behind Bianjie AI, a tech company founded in 2016. Harriet Cao is a co-founder at Bianjie AI and one of the leaders behind the IRISnet protocol establishment. Haifeng Xi is the other co-founder at Bianjie AI. He has expertise in developing distributed systems and blockchain applications.

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What is the current price of IRISnet?

The price of 1 IRISnet currently costs $0.0186.

What is the market cap of IRISnet?

The current market cap of IRISnet is $25.79M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of IRISnet?

The all-time high of IRISnet is $0.32. This all-time high is highest price paid for IRISnet since it was launched.

What is the 24 hour trading volume of IRISnet?

Over the last 24 hours, the trading volume of IRISnet is $786.30K.

What other assets are similar to IRISnet?

Assets that have a similar market cap to IRISnet include Cult DAO, Ultiledger, Presearch, and many others. To see a full list, see our comparable market cap assets.

How many IRISnet are there?

The current circulating supply of IRISnet is 1.4 billion.

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