IRISnet enables a service-oriented infrastructure to be incorporated into Cosmos. In addition, IRISnet also serves as the integration of business services offered by heterogeneous systems, including public and consortium chains, as well as legacy systems. IRIS is the native cryptocurrency of IRIS Network. Detailed information about what is IRISnet coin (IRIS), how it works, how much it costs, how to buy, etc. is in the continuation of the content. You can browse here for information about CEEK coin.
What is IRISnet coin (IRIS) and how does it work?
According to the platform’s statements, IRISnet, also known as IRIS Hub, is designed as the foundation for next-generation distributed applications. Built with the Cosmos-SDK, IRISnet provides a variety of modules to support DeFi applications, while also enabling cross-chain interoperability through a unified service model.
IRIS Hub does not only support token transfers over the internet with Blockchains. It can also be used for heterogeneous systems mechanism, token economy etc. It also works to allow access to data and computing resources across the world.
IRIS is the native cryptocurrency of IRIS Network. According to the platform’s statements, the IRIS token basically has 5 uses:
- At the consensus level, IRIS is the staking token used by validators and grantors to secure the PoS network and receive rewards.
- IRIS is the default fee token for all transactions on the network.
- IRIS token holders can participate in on-chain governance by creating and voting on governance proposals.
- IRIS is the base token used for on-chain token exchange by the coinswap protocol.
- IRIS is the default fee token used by service providers for deposit and fee collection.
How to buy IRISnet coins? What is the price of IRIS coin?
IRISnet coin can be purchased from listed cryptocurrency exchanges. but it is necessary to make sure that the exchange is reliable. As of November 30, 2021, the price of 1 IRIS token is around $0.12 (price can change instantly)
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency
