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: 

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.

We update our IRISnet to GBP currency in real-time. Get the live price of IRISnet on Coinbase.

The current market cap of IRISnet is £6.386M. A high market cap implies that the asset is highly valued by the market.

The all-time high of IRISnet is £0.24. This all-time high is highest price paid for IRISnet since it was launched.

Over the last 24 hours, the trading volume of IRISnet is £81.183K.

Assets that have a similar market cap to IRISnet include Autonolas, iShares Core MSCI Emerging Markets Tokenized ETF (Ondo), RAMP, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of IRISnet is 1.6 billion.