### What is IRISnet?

IRISnet is a service protocol and cryptocurrency aimed at providing a blockchain-based, open network for small and medium businesses offering various services. It seeks to leverage different public and consortium blockchains to create decentralized, open networks to serve businesses and freelance service providers.

### How does IRISnet work?

IRISnet operates as a service infrastructure and protocol built using the Cosmos SDK and the Tendermint consensus layer. It functions as a communication relay for other blockchains and their applications. The network utilizes a Bonded Proof-of-Stake (BPoS) consensus mechanism to secure the blockchain and enable the processing of transactions. It also supports smart contracts to facilitate various services and applications.

### What are the potential use cases for IRISnet?

IRISnet is designed to bridge blockchain technology and traditional business applications, facilitating communication between distributed business applications. Potential use cases include:

- Digital assets registration, verification, and exchange.
- Supply chain financing.
- Healthcare industry data exchange with privacy-preserving features.
- NFT-backed tokenization in intellectual property and healthcare documents.

It targets industries such as supply chain management, healthcare, intellectual property management, and financial services. IRISnet also aims to provide interoperability across heterogeneous chains and handle off-chain computing.

### What is the history of IRISnet?

IRISnet was created by the technology team of Bianjie Intelligent Technology Co., Ltd., a Shanghai-based start-up. It was launched on March 1, 2019. The founding team includes Haifeng, Harriet Cao, Jeffrey Hu, and Jae Kwon. Since its inception, IRISnet has achieved significant milestones such as integrating Gravity Bridge for Ethereum interoperability and developing IRITA, an enterprise blockchain solution. It has evolved to include modules for DeFi applications and expanded its market presence through various partnerships and listings.

IRISnet

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