IRIS Network

The IRIS Network (IRIS) is a blockchain infrastructure designed to facilitate the construction of distributed business applications. It was created through a collaboration between several blockchain businesses, including Tendermint, Wancloud, and Bianjie AI.

IRISnet was founded by the technology team of Bianjie Intelligent Technology Co., Ltd. (Bianjie AI), a Shanghai-based start-up established in 2016. The company focuses on developing blockchain-based products and solutions for enterprises, particularly in the healthcare and financial industries.

IRISnet is a vital partner of the Interchain Foundation and Tendermint, the core contributors behind the Cosmos Network. It was built as the first regional hub in the Cosmos ecosystem outside of the Cosmos Hub, aiming to provide infrastructure and protocols for decentralized business applications.

The IRIS Network is designed to support a multi-token model, similar to the Cosmos network. The native token, IRIS, is used for staking, paying transaction fees, and participating in network administration. It is a utility token with multiple usage scenarios.

The project has raised approximately $22 million through private token sales and has a strategic focus on community building in China, Korea, and Europe, with plans to expand to other markets as it gains popularity.

The IRIS Network (IRIS) is a blockchain-based infrastructure designed to facilitate the construction of distributed business applications. It is built using the Cosmos SDK and supports various modules such as IBC, EVM, NFT, and iService, which enable the development of interchain decentralized applications (dApps).

IRIS Network employs a delegated Proof-of-Stake (BPoS) consensus mechanism. This mechanism allows network participants to stake their tokens and receive additional rewards. The staking process helps secure the network and ensures the smooth operation of the consensus mechanism.

The IRIS Hub is a blockchain at the center of the IRIS Network. It is a Proof-of-Stake (PoS) blockchain built on the Cosmos SDK and Tendermint. The IRIS Hub coordinates on-chain transaction processing with off-chain data processing and business logic execution. It also supports enhanced IBC protocol, which facilitates cross-chain invocation of off-chain services.

The IRIS token is the native token of the IRIS Network. It serves three primary purposes:

1. Staking: The IRIS token is used for staking to secure the PoS blockchain.
2. Transaction Fee: It is used to pay fees for all transactions within the IRIS Network.
3. Service Fee: Service providers in the IRIS Network charge service fees denominated in the IRIS token.

IRIS Services, also known as "iServices," bridge the gap between the blockchain world and conventional business applications. They mediate the complete lifecycle of off-chain services, including definition, binding, invocation, and governance. Providers offer these services, and consumers can use them by sending requests to designated provider endpoints.

• Interoperability: IRIS Network enables interoperability across heterogeneous chains, allowing for seamless communication and collaboration between different blockchain networks.
• Off-Chain Services: The network supports the integration of off-chain computing and resources on a distributed ledger, enhancing its capabilities for building distributed business applications.
• Client-Side Tools: IRIS Network provides client-side tools, including a smart wallet for cross-chain multi-asset storage, to facilitate the use of iServices.

Overall, the IRIS Network is designed to provide a robust infrastructure for building scalable and trustworthy distributed business applications by leveraging its innovative consensus mechanism, token economics, and service infrastructure.

The token IRIS Network (IRIS) has several strengths that contribute to its potential and value:

1. Reliable Team: The team behind IRISnet has a proven track record in developing blockchain projects, including the Blockchain Edge Analytics Network for the healthcare sector. This experience and expertise lend credibility to the project.

2. Functional Compatibility: IRISnet is designed to facilitate information exchange and collaboration between different blockchains and applications, making it suitable for a wide range of use cases, such as medical data sharing while maintaining confidentiality.

3. Staking and Governance: The IRIS token is used for staking, which helps secure the Proof-of-Stake (PoS) blockchain. Additionally, it is used to pay transaction fees and execute smart contracts, as well as for creating and voting on management proposals.

4. Infrastructure and Modules: IRISnet is built using the Cosmos SDK and supports various modules such as IBC, EVM, NFT, and iService, which enable the development of interchain dApps and provide a robust foundation for the network.

These strengths position IRISnet as a versatile and reliable blockchain solution with a strong team and a wide range of applications.

IRIS Network (IRIS) is a comprehensive risk management system designed to help organizations and businesses manage financial risks effectively. Here are some key financial risks that IRIS addresses:

1. Project Failure Risks: IRIS helps organizations identify and mitigate risks that can lead to project failures, which can result in significant financial losses. By implementing sound risk management processes, IRIS reduces the likelihood of project failure, ensuring that financial goals are met.

2. Budget Overruns: IRIS's risk management techniques help organizations manage budgets more effectively, reducing the likelihood of budget overruns and ensuring that financial resources are utilized efficiently.

3. Cost Efficiency: By identifying and mitigating risks, IRIS helps organizations achieve cost efficiency, which can lead to significant financial savings and improved profitability.

4. Schedule Efficiency: IRIS's risk management processes also improve schedule efficiency, ensuring that projects are completed on time and within budget, thereby reducing financial losses due to delays.

5. Return on Investment (ROI): IRIS provides tools to calculate ROI, enabling organizations to prioritize activities that generate the highest returns on investment and maximize financial benefits.

6. Quantitative Risk Exposure: IRIS's statistical analysis tools help quantify risk exposure, allowing organizations to make informed financial decisions and minimize potential financial losses.

7. Regulatory Compliance: IRIS ensures that organizations comply with regulatory requirements, reducing the risk of financial penalties and reputational damage.

By addressing these financial risks, IRIS Network provides a robust risk management framework that helps organizations minimize financial losses, optimize resource allocation, and maximize returns on investment.

• Harriet Cao: Co-founder and CEO of Bianjie AI, a key partner in the development of IRISnet.
• Yubo Ruan: Founder of 8 Decimal Capital, one of the consultants supporting IRISnet.
• Adrian Brink: Chief developer and head of community at Tendermint / Cosmos, another key partner in the development of IRISnet.
• Tom Tao: VP at Wanxiang Blockchain Co., involved in the core team working on IRISnet.