The IRISnet’s IRISHUB 2.0 Upgrade: Integrating EVM and Introducing ERIS

On April 17th, it was reported that the Cosmos ecological cross chain hub IRISnet had completed the IRISHUB 2.0 main network upgrade around 15:00 Beijing time today. The upgrade includes integrating EVM and introducing a new fee token ERIS.

IRISnet has completed the IRISHUB 2.0 main network upgrade and is compatible with EVM

IRISnet is a decentralized ecosystem that aims to interconnect networks and businesses, and facilitate the development of new applications. On April 17th, the platform announced that it had completed the main network upgrade of its Cosmos ecological cross-chain hub, IRISHUB 2.0. The upgrade comes with several exciting features, including integrating the Ethereum Virtual Machine (EVM) and introducing a new fee token called ERIS.

What is IRISnet?

Before diving into the upgrade, let’s first understand what IRISnet is all about. It is a blockchain that connects different blockchain networks and traditional businesses allowing participants to transact, exchange data, and build applications across traditional boundaries. The platform is built using Cosmos technology and provides cross-chain interoperability solution.

What is IRISHUB 2.0 Upgrade?

IRISHUB 2.0 is the latest version of the IRISnet’s mainnet. The upgrade includes several key features aimed at improving the platform’s capabilities and user experience. Here are some of the top features included in this upgrade:

Integrating Ethereum Virtual Machine (EVM)

The integration of the EVM allows developers to code smart contracts and run Ethereum-based decentralized applications (dApps) on the IRISnet’s platform. With this feature, developers can leverage the benefits of both IRISnet’s cross-chain technology and Ethereum’s ecosystem.

Introducing ERIS Token

The IRISnet platform uses a governance token called the IRIS, which is used to pay various fees on the platform, such as transaction fees and network fees. The introduction of the ERIS token brings a new fee model that makes the governance token more valuable and provides more flexibility for developers and users.

Enhanced Delegation Functionality

Delegators are users who stake IRIS tokens and participate in network governance. The IRISHUB 2.0 upgrade includes enhanced delegation functionality, making it easier for users to stake their tokens and participate in the network’s governance. The enhanced delegation feature also makes it easier for validators to manage their delegations.

What are the Benefits of the IRISHUB 2.0 Upgrade?

The IRISHUB 2.0 upgrade marks a significant milestone for the IRISnet ecosystem, bringing several key features aimed at improving the platform’s capabilities and user experience. Here are some of the benefits of this upgrade:

Enabling Cross-chain Interoperability

With the integration of EVM, developers can leverage both Ethereum’s ecosystem and IRISnet’s cross-chain technology, making it easier for businesses and applications to work together across different blockchain networks.

Improved Governance and Flexibility

The introduction of the ERIS token brings a new fee model that makes the governance token more valuable and provides more flexibility for developers and users. This new fee model ensures that the platform remains sustainable while providing a more efficient way to govern the network.

Increased User Adoption

The enhanced delegation functionality makes it easier for users to stake their tokens and participate in the governance of the network. This increased user participation helps to ensure the security of the network while also increasing user adoption.

Conclusion

The IRISHUB 2.0 upgrade is a significant milestone for the IRISnet ecosystem, bringing several key features aimed at improving the platform’s capabilities and user experience. With the integration of EVM and the introduction of the ERIS token, the platform has become more flexible and efficient, making it easier for developers, businesses, and users to leverage the benefits of cross-chain technology enabled by the IRISnet ecosystem.

FAQs

What is IRISnet?

IRISnet is a decentralized ecosystem that aims to interconnect networks and businesses, and facilitate the development of new applications.

What is the IRISHUB 2.0 Upgrade?

IRISHUB 2.0 is the latest version of the IRISnet’s mainnet. The upgrade includes several key features aimed at improving the platform’s capabilities and user experience.

What are the benefits of the IRISHUB 2.0 upgrade?

The IRISHUB 2.0 upgrade brings several key features aimed at improving the platform’s capabilities and user experience, including enabling cross-chain interoperability, improving governance and flexibility, and increasing user adoption.