IRIS Network (commonly referred to as IRISnet) is a blockchain platform designed to support the construction of distributed applications.
IRIS Network positions itself as an interchain service hub, aiming to enable communication and interoperability between various blockchain networks. This interchain capability is designed to enhance the functionality of distributed applications.
IRISnet is designed to work with various blockchain platforms, allowing it to interoperate with other networks. This interoperability enables assets and data to move seamlessly between different blockchains.
Delegated Proof-of-Stake
The IRIS Network employs a DPoS consensus mechanism. DPoS relies on a limited number of validators to confirm transactions and create new blocks, which can lead to increased scalability and faster transaction processing.
IRISnet includes a service layer that allows developers to build, share, and monetize services, such as data or computing resources. This service layer is a fundamental part of the network’s vision for providing a broader range of services.
The IRIS token plays a key role in securing and governing the network and can also be staked for rewards.
Users can stake IRIS tokens to participate in network security and governance. In return, they may receive rewards in the form of IRIS tokens.
Disclaimer. This article is for informational purposes only and should not be viewed as an endorsement by Coinidol.com. The data provided is collected by the author and is not sponsored by any company or token developer. They are not a recommendation to buy or sell cryptocurrency. Readers should do their research before investing in funds.
Source: https://coinidol.com/iris-network-token/
