IRISnet (IRIS) price rose over 60% on November 22nd, reaching the biggest gain on Crypto.com. IRISnet price is now interrupting its incredible rise by 10% correction. We take a look at what exactly the altcoin project is and why the IRIS price has gone up so high.
What is IRISnet (IRIS)?
The IRIS network aims to establish a technology foundation that facilitates the creation of distributed business applications. The Altcoin project uses the Tendermint protocol as a high-throughput consensus engine. The Tendermind protocol is the world’s most popular Blockchain application framework, built on top of the Cosmos platform. Some of the key innovations of IRISnet include:
- Incorporating a service-oriented infrastructure into Cosmos
- public services of business
- Integration into consortium chains
- Interoperability of provided services across multiple Blockchains
As for its core features, IRISnet includes an IBC + iService protocol that emulates the existing TCP/IP + HTTP stack. There is also support for NFTs and cross-chain Coinswap. We can say that IRISnet is full of features by looking at the roadmap. Some of the future plans for IRISnet include adding a VM and integration with the Ethereum network.
Why is the IRISnet price rising?
cryptocoin.com As we reported, Binance announced their support for the IRISnet Network upgrade, which should take place on November 23. V1.2.1 IRIS Hub Upgrade will fix a bug in IRISnet Hub Mainnet that prevents execution of inbound IBC transactions. Binance tweeting their support for recent network upgrades has given a lot of confidence for investors and the price of IRIS in general. As soon as Binance tweeted the announcement, the price rally began and IRIS price nearly doubled from $0.12 to $0.2 within a few hours.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.