IRIS coin is a native cryptocurrency created on IRIS Blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. IRIS Coin was mainly created to enable easy transfer of tokens from one blockchain to another and the transaction recorded and verified on its IRIS blockchain network platform. IRIS coin was also created to enable delegators to be able to stake their IRIS coin to their own wallet or to the validators who use the leased coins to validate the transactions on the IRIS network thus in return, they receive the income in form of fees charged and new coins released which are shared between them and the validators. Through staking IRIS coin, delegators and validators can receive up to 14% interest per anum. The more the IRIS coins being delegated, the more the earning. IRIS coin was mainly created to target industries such as healthcare sectors and insurance sectors.
IRIS coin transaction
IRIS coin transaction takes place on the IRIS blockchain explorer based on block height and timestamp. To view how the transaction takes place at IRIS blockchain explorer, simply follow the link below;
https://www.irisplorer.io/#/home
Date Launched
IRIS coin was created in 2018 with the main objective of becoming a staking coin as well as allowing easy transfer of tokens across different blockchains .
Founder Of IRIS coin
IRIS Cryptocurrency was created by Justin Fulcher who is a venture backed technologist entrepreneur with the main objective of allowing easy storage of healthcare data on the IRIS network. Justin Fulcher also wanted to make the coin to become a staking coin so that stakers can be rewarded when their coins secure the network.
Process of creating IRIS coin
Unlike cryptocurrencies like bitcoin and Ethereum which are proof-of-work thus are created through the mining process in the presence of power and internet, for IRIS coin, that is not the case, instead,IRIS coin was created to become a proof-of-stake coin. During its initial coin offering, 500,000,000 coins were sold to investors while another 500,000,000 coins were retained by team members.Another 300,000,000 was retained by the company while another 100,000,000 was airdropped to early adopters. The remaining 600,000,000 coins is the one to be released through staking. In the staking process their is delegators and validators. The delegators are the one who lease their coins to the verified validators who use the coins to validate transaction on the IRIS NETWORK. In return, the validators receive the fees charged as well as the new coins which enter the network. These rewards are then distributed to delegators based on what they had delegated. The more their delegation the more the reward. Here is how it looks like;
Maximum circulation of IRIS coin
The maximum amount of IRIS coin that is expected to be circulating in its blockchain should be 2,000,000,000 coins. During its initial coin offering, 25% of this amount was sold to investor while another 15% was retained by core team developers. Another 10% was retained by the tendermint developer team since IRIS uses the SDK of the COSMOS. Another 15% was retained by the IRIS foundation while 5% was airdropped. The remaining 30% is the one to be released through staking.Here is how the IRIS distribution looks like;
IRIS coin Price
Currently, 1 IRIS coin is worth more than $0.025 and its price is expected to increase over the next period of time. IRIS coin is being abbreviated as IRIS.
Converting my IRIS coin to other cryptocurrencies
To convert your IRIS coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your IRIS coin to bitcoin or Ethereum. https://www.binance.com/?ref=10776203
Storing my IRIS coin
To store your IRIS coin, you need an IRIS coin wallet. You can either store online or offline. To store your IRIS coin online you can download the wallet or can use other online wallet supporting IRIS coin such as Rainbow wallet. To secure your IRIS coin from being stolen by hackers, you can download cold storage wallet like the Ledger Nano or Rainbow offline wallet
Transferring my IRIS coin to other Users
If you want to transfer your IRIS coin to another user, the two of you must have trust in each other. The trust should be the IRIS coin address provided for the receiver while the sender must have the IRIS coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About IRIS coin
If you feel that you need to learn more about IRIS cryptocurrency, then you can follow them on their site. Here is the link redirecting you to IRIS platform website https://www.irisnet.org/ Now that you know, I think that it is time for you to start earning some IRIS cryptocurrency by staking them thus validating the transaction taking place on the IRIS blockchain. The more you stake the more you earn. If you feel that I should also own some IRISNET coin for helping you to know about it then here is my IRIS coin address; address: iaa1mvfej6hvkuplcvm9aa2qdeh54npvdnshzcjpat memo: 20682374
