What is IRISnet
IRISnet is a cryptocurrency token connected to Cosmos SDK protocol. The project idea has to do with interchain operability. It is started in 2018.
The blockchain validation is running on a form of delegated Proof of Stake. IRIS tokens can be used as staking and fee tokens.
Team and community
There is no team on the website. It seems that there a some capable developers working here.
The community should be found at Telegram.
The best way to know more about this crypto project is reading the bi-weekly newsletter on Medium.
Exchanges and use cases
There are around ten exchanges where you can trade IRISnet , of which Bibox and MXC are the most relevant.
We haven’t seen a real world use case so far.
From genesis there are two billion tokens. Twenty-five percent of these token are sold to investors. The other seventy-five percent are in hand of the team, team members and related parties.
You can find a mobile wallet for this token on https://www.rainbow.one/.
The forum for the project is not very active it show some English post, but most are in an Asian character. The forum is not active.
Staking in itself is not a use case.
The value for the full chain is around 10 million USD, but with most tokens in hands of the team and affiliated parties, it is mainly the amount of token that make the value this high.
We won’t say this is a bad project , but for most people it is to abstract. With five-thousand crypto coin projects to choose, we think there are more useful tokens and cryptocurrencies around. We prefer to put our investment money elsewhere. But as always, do you own research before you put your money a crypto token or currency.
Definitely IRISnet is not overhyped at the moment.
Last update of this page : 13-12-2019