About IRISnet (IRIS)
IRISnet is a decentralized platform with an expressed focus on encouraging an open source network in which small and medium-sized businesses are empowered to package and offer their specific business services through an interconnected blockchain ecosystem.
The IRISnet platform looks to achieve the goal of the network by leveraging the InterBlockchain Communication (IBC) protocol existing in the underlying Cosmos blockchain ecosystem and the associated Tendermint consensus mechanism. Tendermint is known in the blockchain industry as a consensus algorithm which facilitates cross-chain communication and interoperability in the blockchain environment, a vital aspect of the IRISnet platform.
IRISnet seeks to combine and unify off-chain and on-chain capabilities and operations within its network design in order to enhance the business ecosystem, reach, and operations of small and medium-level enterprises. Specifically cross-platform data and application services are said to be supported to perpetuate much-needed consistency between off-chain and on-chain business ecosystems.
IRISnet uses bridges to connect to the Ethereum and Polygon networks, enabling cross-chain functionality. Cross-chain NFT and smart contract transfers between blockchain ecosystems is purportedly supported by the Terse IBC protocol and interchain technology implemented in the IRISnet infrastructure.
IRIS is the cryptocurrency asset deployed for use within the IRISnet decentralized platform and is known by its token ticker $IRIS. The current price of IRIS is updated and available in real-time on Binance.
