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Highlights
- The IRISnet network aims to provide access to the blockchain-based, open network for small and medium enterprises for operations.
- Developed by tech experts from Bianjie AI, IRISnet Network was co-founded by Harriet Cao and Haifeng Xi.
- According to CoinMarketCap, the IRIS was trading at US $0.157555 with a 24-hour trading volume of US $279,325,923. IRIS was up by 33.15% in the last 24 hours.
The IRISnet Network aims to provide access to the blockchain-based, open network for small and medium enterprises for its operations. Developed by tech experts from Bianjie AI, IRISnet Network was co-founded by Harriet Cao and Haifeng Xi. It operates on the popular Tendermint protocol, which is built on the Cosmos platform.
On 22 November, Binance announced its support IRISnet Network upgrade. Immediately after its tweet, IRIS’ price saw a massive rally of 60%. Following the IRISnet Network upgrade, which happened on 23 November, the token has been up by 33% at the time of writing (BST 6:30 am).
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At around 4:00 am UTC, the IRISnet Network, in a tweet, announced that it has successfully managed to upgrade its mainnet to IRIS Hub 1.2! With the upgrade, the IRIS mainnet will now encompass the enhanced NFT features as well. The NFT features are expected to push the network’s utility rate and provide better support to business applications.
What is IRIS crypto?
The IRISnet blockchain works on the bonded proof-of-stake consensus mechanism. It allows the stakers to earn more tokens and earn additional rewards.
Some of IRISnet Network’s key innovations are its ability to easily manoeuvre, it is ideal for applications which need off-chain and inter-chain information swaps and collaboration and its ability to allow both public as well as consortium channels to operate together in a seamless manner.
Recently, the IRISnet Network had announced the development of IRTA, an enterprise blockchain, which focusses on providing privacy-centric data authorization to the business world.
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Besides, one of the main USP’s of the IRIS protocol is its ability to combine both the on-chain and off-chain activities. While all the transactions take place on the blockchain, all the data processing takes place on the off-chain platform. In addition, IRISnet also provides the users with the facility of a smart wallet for its business operations.
Is IRIS token worth the hype?
IRIS token is ranked 358 on CoinMarketCap. According to CoinMarketCap, the IRIS was trading at US $0.157555 with a 24-hour trading volume of US$279,325,923. IRIS was up by 33.15% in the last 24 hours. IRIS crypto has a live market cap of US $181,692,149 with a circulating 1,153,196,423 IRIS coins.
Experts believe that IRIS has the potential to grow as a strong token. The Binance listing will be a huge confidence booster to investors. Investors are hoping that this would help IRIS crypto gain momentum and help the token consolidate and impress the investors as a strong token.
They predict the token to grow by +207% in the next five years and expect its price to touch US$300 or more by 2026.
