IRISnet’s role in the success of the Cosmos Network Vision

Transcription of the AMA with Jeffrey Hu, Director of Research at IRISnet

🌈 IRISgardians,

It is a pleasure for me to introduce you to the transcription of the AMA that took place on the Cosmos sub-Reddit at 9:30 am CST on April 1st.

On this occasion, we had the honor to host a renowned expert from the blockchain industry: Mr. Zhiwei Hu, IRISnet Director of Research.

Mr. Zhiwei Hu answered in-depth questions asked by the Cosmos Community and was able to help translate extremely technical concepts into a conversational level, successfully creating an all-inclusive discussion that helps include all the members who have just joined us.

Below you will find highlights of the AMA, and some documents that may be helpful in understanding the context.
If you have any questions, the IRISnet team invites you to join them on Telegram or Discord!

💬 Community Q&A

Mr. Jeffrey Hu: iService is already available on IRISnet.
We will integrate some apps with it in the next few months step by step as what our core dev team did on open-permissioned blockchain: Wenchang Chain of BSN.

The majority of development works of Coinswap have already been done.
But we think it is extremely important to have more intensive tests before the go-to-market.
So with 1–2 weeks’ more testing, the Coinswap app will be launched.

Mr. Jeffrey Hu: Right now, we have built the connection with Binance Chain, so coins on Binance Chain would be available.
But since we will also have IBC enabled and built a connection with Cosmos Hub, Coinswap can also have $ATOM.

Mr. Jeffrey Hu: Sure! We will have farming pools, from day 1 when Coinswap app launches. People can stake their LP tokens, to get $IRIS rewards.
We are also talking to many partners to see more potential farming options

Mr. Jeffrey Hu: Well also have a liquidity farming function.
Like Pancakeswap, we can also explore some potential applications like Collectibles, Lotteries, since we also have NFT & random number functions on IRIS Hub.
But we will not have an IFO function.

Mr. Jeffrey Hu: I think there is no real barrier for IRISnet.
But we do get lots of things to do in the future.
For example, we will do more to support IBC.
Like adding more application layer protocol over the IBC, connecting more heterogeneous blockchains, help Cosmos/IBC tech stacks’ adoption in enterprise applications, etc.

Mr. Jeffrey Hu: I think there are several unique features on IRISnet.
For example, iService, which can connect with legacy systems, to have their abilities to be registered as a cross-chain service.

Mr. Jeffrey Hu: So, for sure, every chain would not be the same :)
IRISnet has many unique features, like iService.
And our progress went on well and we keep delivering at a very fast pace, like IRISnet was the first mainnet launched in Cosmos ecosystem;
The 1st mainnet upgraded after Cosmos Stargate;
The 1st mainnet which made the IBC connection with Cosmos Hub;
The1st mainnet with integrated NFT functions in Cosmos ecosystem…

Mr. Jeffrey Hu: More use cases are coming on IRIS Hub right now, like for example the mentioned above Coinswap (AMM).

Mr. Jeffrey Hu: Yes, I think so.
That was exactly iService should be: bringing more enterprise applications on IRIS Hub.

Mr. Jeffrey Hu: Impressive that you made so much research into IRISnet!
Yes, we have some privacy computing services integrated into the enterprise version of the IRITA blockchain product.
I think these privacy computing services can also be integrated on IRIS Hub when it is appropriate.
And would be also very happy to see Secret Network connected to IRISnet through IBC :)

Mr. Jeffrey Hu: Sure!
I think Starname could be integrated on IRIS Hub when it is ready.
After that, many apps including NFT marketplace on IRIS Hub could use Starname.

Mr. Jeffrey Hu: We are planning to introduce more stable coins on IRIS Hub.
For example, we will leverage the Hash Lock function to have stable coin BUSD on IRIS Hub from Binance Chain.

Mr. Jeffrey Hu: Totally agree!
We can definitely connect with Terra by IBC when both chains enabled IBC transfer.

Mr. Jeffrey Hu: Yes! Sure! Right now we have several global communities.
English, Korean, Philippines, Italian, French, Hispanic, Arabic.

Mr. Jeffrey Hu: Would love to!
Last time, I was invited to [At Stake] by Ken | Cypher Core and really enjoyed it. Here is the link.
So if there will be a chance, I’d like to participate in more podcast :D

Mr. Jeffrey Hu: IRISnet is the first mainnet that integrated the NFT module in the Cosmos ecosystem.
Right now, there are more than 10k NFTs minted on IRIS Hub.
Many crypto artists publish their art-works by NFT app: Uptick.

A new record was made yesterday:
an artwork was sold for 2000 IRIS on Uptick quickly after it was posted on Uptick.

And what would make NFT on IRISnet and the dApp Uptick outstanding?
And one important reason is the connection with the interchain.
So we will definitely iterate it in the future by introducing many innovative functions, like interNFT, transfer NFTs by IBC.
We will have some more artists publish their works in the future.

One thing we tried before is that: first we and Uptick team came to an idea that makes Uptick App be an events ticketing system.
But when the app nearly put on production, the collectible function is added because it is very important and useful now.

📚 Resources

Are you curious to learn more about IRISnet?
Here are the articles for you:

🎞 And don’t miss the Replay of Mr. Hu's participation at the Cosmos IBC Party!

About IRISnet

IRISnet (a.k.a IRIS Hub) is an Interchain Service Hub designed to support the next generation of distributed applications. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability through a unified service model, which supports not only token interchain transfer but also trustworthy data consumption and computation invocation across heterogeneous systems.
IRIS Hub is the first self evolutionary blockchain launched in the Cosmos ecosystem.

IRISnet dev teams include Bianjie, a national award-winning blockchain technology team based in Shanghai, and Tendermint, the world-famous team that created the Tendermint consensus engine and the Cosmos project.

💌 Get in touch with the IRISnet Team!

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