IRISnet
Crypto Overview
Overview and Intended Utility
IRISnet is designed as a cross-chain service hub built using the Cosmos SDK, focusing on facilitating interoperability and cross-chain computation. The project aims to provide infrastructure for distributed business applications, enabling cross-chain service invocation and complex computation capabilities.
Technical Implementation
The platform implements a unique Inter-chain Service Protocol (iService) that allows for the definition, binding, invocation, and coordination of services across heterogeneous systems. IRIS tokens serve as the native cryptocurrency used for governance, staking, and fee payment within the network.
Actual Implementation and Usage
The network is actively used for its intended purposes, with verifiable on-chain activity showing: 1) Validator operations maintaining network security through Proof-of-Stake consensus 2) Cross-chain service interactions through IBC (Inter-Blockchain Communication) protocol 3) Governance participation by token holders
Token Distribution and Governance
The token distribution shows a relatively balanced allocation with: 1) 35% allocated to staking rewards 2) 15% to the foundation 3) 30% to private sale participants 4) 20% to ecosystem development. Vesting schedules are implemented for team and early investor allocations, showing commitment to long-term development.
Development Activity
The project maintains active development with regular GitHub commits, protocol upgrades, and ecosystem expansion. The team consistently delivers technical updates and maintains transparency in their development process.
Crypto Impact
To assign a comfort level investing in IRISnet from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to IRISnet.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.