IRISnet (IRIS) Feed: Events, News & Roadmap
IRISnet Events on the Chart
What is IRISnet?
IRISnet is a service protocol and cryptocurrency launched on March 1, 2019. It’s designed to provide blockchain-based, open networks to small and medium businesses for a wide variety of services. Named after the Greek mythological figure Iris, IRISnet focuses on bringing the benefits of decentralized and open networks to businesses and freelance service providers through the use of both public and consortium blockchains.
IRISnet is unique in its approach to blockchain technology in the business world, targeting small business operations rather than large conglomerates. Its key development, IRITA, is an enterprise blockchain solution that offers flexible digital asset modeling and privacy-centric data authorization. IRISnet differentiates itself by combining on-chain and off-chain functionalities: while transactions are processed on-chain, data processing and business logic are executed off-chain. This dual approach aims to optimize efficiency and scalability in business operations.
The IRIS token serves as the native cryptocurrency within the IRISnet ecosystem. It’s utilized in various network activities, including transactions, staking, and participation in governance mechanisms. The IRIS token is an integral part of the network, facilitating operations, incentivizing participants, and allowing token holders to engage in the governance of the protocol. The token plays a crucial role in maintaining and operating the IRISnet platform, ensuring smooth transactions and interactions among businesses and service providers within the network.