The IRIS network is named after the Greek goddess Iris, said to be the personification of the rainbow and the faithful messenger between heaven and humanity.It goes beyond today's blockchain systems which are mainly for digitalized assets.The key challenges that they aim to address via the IRIS network are two-fold:- integration and collaboration of off-chain computing and resources on a distributed ledger;- interoperability of the services across heterogeneous chains.
IRISnet (ticker: IRIS) is a proof-of-stake blockchain built on the Cosmos SDK, focused on connecting separate networks so they can exchange data and services, not just tokens. In simple terms, it's infrastructure for the interchain world — a base layer for decentralized apps that need to talk to other blockchains. IRIS is the network's native coin, used to pay transaction fees, secure the chain through staking, and vote in on-chain governance.
IRIS is not a token issued on someone else's blockchain — it's the native coin of its own independent network, much like ATOM is for the Cosmos Hub. The project's core focus is interchain services and interoperability, letting blockchains share functionality with each other. Official details and documentation are available at irisnet.org.
The network runs on Tendermint BFT, a proof-of-stake consensus engine that comes with the Cosmos SDK. IRIS holders delegate their coins to validators, who produce and verify blocks; a block is final once more than two-thirds of the staked voting power agrees on it. That means fast, single-confirmation finality — no waiting around like on proof-of-work chains.
New IRIS is minted as staking rewards: validators and the users who delegate to them earn coins for keeping the network secure. The issuance rate is defined by protocol parameters and can be changed through governance votes, so supply policy is set by the community rather than a central team. There is no mining — staking is the only way new coins enter circulation.
Since IRIS is a native Cosmos-ecosystem asset, the go-to option is Keplr, a wallet built for Cosmos SDK chains; Cosmostation and Ledger hardware wallets also work. With your own wallet you can stake IRIS, vote on governance proposals, and move it across chains via the IBC protocol. Keeping coins on an exchange is possible, but self-custody gives you full control plus the ability to earn staking rewards.