Built with the Cosmos-SDK, IRIS Hub is designed to support not only token transfers across different blockchains, but also to allow for the consumption of data and computing resources across heterogenous systems.
The IRISnet blockchain utilizes a Bonded Proof-of-Stake (BPoS) consensus mechanism. BPoS is a form of Delegated-Proof-of-Stake (DPoS) consensus mechanism that allows stakers with more tokens to earn additional rewards.
The interoperability supported by IRISnet is suitable for applications requiring off-chain and inter-chain information exchange and collaboration. Examples include privacy-preserving healthcare data exchange, inter-chain marketplace, digital assets exchange for supply chain finance, and more.
IRIS is the native asset of the IRISnet blockchain. It is used for delegating and staking for the consensus mechanism, paying for transaction fees and smart-contract executions, as well as creating and voting for governance proposals.