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What is IRISnet (IRIS)?

IRISnet basic info

Name:IRISnet

Ticker:

IRISBuy now

Introduction:

What is IRISnet (IRIS)?

IRISnet is a cryptocurrency and service protocol that was launched on March 1, 2019. Its main objective is to provide a blockchain-based network that offers a wide range of services to small and medium-sized businesses. The protocol's official whitepaper reveals that it seeks to leverage various public and consortium blockchains to bring the benefits of decentralized, open networks to a large number of businesses and independent service providers. It's worth noting that IRISnet was named after Iris, the Greek goddess of the rainbow and messenger of the gods.

How does IRISnet (IRIS) Work?

At the heart of the IRIS network lies the IRIS Hub, a Proof-of-Stake (PoS) blockchain based on Cosmos SDK and Tendermint. As one of its zones, it will become the first regional hub that connects to the Cosmos Hub. The IRIS Hub comes with a service protocol that coordinates on-chain transaction processing with off-chain data processing and execution of business logic. The IBC protocol has also been improved to enable the invocation of these off-chain services across different blockchains.

The service protocol and enhanced IBC protocol could be eventually integrated into Cosmos SDK to enable SDK users to build blockchains that are compatible with the IRIS network. Additionally, client-facing, programming language-specific SDKs will be available to make it simple to offer and use off-chain services within the IRIS network.

What makes IRISnet (IRIS) Unique?

In the world of business, blockchain technology has the potential to offer innovative solutions that can revolutionize the way small businesses operate. IRISnet is a prime example of this, offering a unique approach that differs from the traditional consortium blockchain model.

One of their latest developments is the IRITA, an enterprise blockchain that leverages flexible digital asset modeling and privacy-centric data authorization features. IRISnet's main selling point is its ability to combine on-chain transaction processing with off-chain data processing and business logic execution through its service protocol. Moreover, IRISnet provides other useful products, such as a smart wallet tailored for business operations.

What is the IRIS Token?

The network of IRIS hub has its own native token called IRIS, which serves three main purposes. Firstly, it is used as a staking token to secure the PoS blockchain, similar to the ATOM token in the Cosmos Hub. Secondly, the IRIS token is also used to pay fees for all transactions in the IRIS network. Lastly, service providers in the IRIS network are required to charge service fees in the IRIS token. The IRIS network is expected to eventually support all whitelisted fee tokens from the Cosmos network, which can be used to pay transaction and service fees.

Current price:

$0.01513More price details

All-time high:$0.3177

All-time low:$0.008254

IRIS supply and tokenomics

Circulating supply:1,625,559,300 IRIS

Total supply:2,130,237,783.06 IRIS

Max supply:0 IRIS

Market cap:$24.59M

Fully diluted market cap:$32.23M

Links

Website:https://www.irisnet.org/

Whitepaper:https://www.irisnet.org/docs/resources/whitepaper-en.html

X:https://twitter.com/irisnetwork

GitHub:https://github.com/irisnet

Buy IRISnet for $1Buy IRIS now

What is the development prospect and future value of IRIS?

The market value of IRIS currently stands at $24.59M, and its market ranking is #825. The value of IRIS is not widely recognized by the market. When the bull market comes, the market value of IRIS may have great growth potential.

As a new type of currency with innovative technology and unique use cases, IRIS has broad market potential and significant room for development. The distinctiveness and appeal of IRIS may attract the interest of specific groups, thereby driving up its market value.

What will the price of IRIS be in 2025?

Based on IRIS's historical price performance prediction model, the price of IRIS is projected to reach $0.02425 in 2025.

What will the price of IRIS be in 2030?

In 2030, the IRIS price is expected to change by -20.00%. By the end of 2030, the IRIS price is projected to reach $0.02338, with a cumulative ROI of +54.72%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of IRIS and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

IRIS price IRIS price prediction IRIS news

Is IRIS worth investing or holding? How to buy IRIS from a crypto exchange?

If you want to buy IRIS, the following information may be helpful for your investment decisions:

In the last seven days, the price of IRIS has risen by 1.64%, leading to positive returns for most IRIS investors. The market is currently optimistic about the price trend of IRIS.

It is important to note that the current price of IRIS has retreated by -95.24% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether IRIS is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in IRIS or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of IRIS, if you want to buy or sell IRIS, you can consider Bitget for your trading needs. The best place to buy IRIS is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in IRISnet has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy IRISnet. Here's a step-by-step guide on how to buy IRISnet on Bitget.

Buy IRIS now Coin buying guide

How to get IRISnet through other methods？

Using cash to buy IRISnet is not the only way to obtain IRISnet. If you have the time to spare, you can get IRISnet for free.

Learn how to earn IRISnet for free through the Learn2Earn promotion.

Earn free IRISnet by inviting friends to join Bitget's Assist2Earn promotion.

Receive free IRISnet airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to IRISnet through Bitget Convert, Bitget Swap, or spot trading.

What is IRISnet used for and how to use IRISnet?

The use case of IRISnet may expand as the crypto market and the project itself develop. Currently, you can use IRIS to achieve the following goals:

Arbitrage by trading IRIS: Since IRIS is a frequently traded cryptocurrency, the price of IRIS is always fluctuating. Earn more IRIS by buying low and selling high on the exchange. Bitget spot market provides a variety of IRIS trading pairs to fully meet your needs.

Earn by staking IRIS: You can also generate income through financial management methods such as staking IRIS or lending IRIS. Bitget Earn offers a variety of financial products designed to help you earn more income from your IRIS.

Send or pay IRIS: If you want to give IRIS to your friends, a charity, or a fundraiser, or you want to pay someone with IRIS, you can quickly and easily send IRIS to the recipient through their payment address.

You can also go to the official website of the IRISnet project to learn more about the use cases of IRIS. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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