The IRIS Network is designed as an interchain service hub, aiming to establish communication and interoperability between separate blockchain networks. Its primary goal is to enhance the functionality of decentralized applications by allowing data and digital assets to move seamlessly across different chains.

Consensus and Service Layer

To manage its operations, the network employs a Delegated Proof-of-Stake (DPoS) consensus mechanism. This model relies on a limited number of elected validators to confirm transactions and produce new blocks, a design that promotes increased scalability and faster processing times. A fundamental component of IRISnet is its service layer, which provides a framework for developers to build, share, and monetize on-chain services, such as data provision or access to computing resources.

The Role of the IRIS Token

The native IRIS token is integral to the network’s security and governance. Token holders can stake their IRIS to help secure the blockchain and participate in key governance decisions. In exchange for their participation, stakers are eligible to receive network rewards, creating an incentive to contribute to the ecosystem’s stability and development.