IRISnet Mainnet 1.0 Successfully Upgraded with KUAFU stage Live and Established IBC Connection with Cosmos Hub
IRISnet has successfully upgraded to mainnet 1.0 on February 25. This IRISnet 1.0 is live now and it is the 1st mainnet establishing the IBC connection with Cosmos Hub.
IRIS Hub v0.16 halted at 05:57, Feb. 25 UTC to start this upgrade, and the blockchain state at the height of 9,146,555 was exported and migrated, all of which were confirmed by validators to start the IRIS Hub 1.0 new mainnet based on irishub v1.0.1. Currently, there are more than 66.67% validator nodes running, which means IRIS Hub 1.0 mainnet successfully upgraded with KUAFU stage live!
After this upgrade, through the IBC protocol, IRISnet will be the second network with the interoperability after Cosmos Hub in the whole Cosmos ecosystem, ushering in the KUAFU stage in the whitepaper.
Meanwhile, IRIS Hub 1.0 is the first mainnet that established the IBC connection with Cosmos Hub.
Core Features
The IRISnet 1.0 mainnet upgrade will bring core features including IBC, Coinswap (AMM), enhanced iService and NFT.
Enhanced iService
As an application layer protocol, the enhanced Interchain Service (iService) framework can support connections between heterogeneous blockchains and centralized systems, and bridge the gap between the crypto world and the traditional business world.
Inter-Blockchain Communication (IBC)
IRIS Hub 1.0 will be one of the first mainnets in the Cosmos ecosystem to integrate the flagship cross-chain IBC protocol. IBC along with the enhanced iService can serve as the blockchain world’s “TCP/IP + HTTP” protocols over which the Internet of Blockchains can be built out.
Coinswap (AMM)
The combination of IBC with Coinswap (AMM) will provide a vanguard innovation platform for DeFi applications in the Cosmos ecosystem.
Oracle
Powered by iService, a flexible and innovative oracle function has been built into IRIS Hub 1.0, enabling cross-platform data services with various on-chain/off-chain interaction patterns.
NFT
The NFT module built into IRIS Hub 1.0 supports the complete lifecycle management of non-fungible tokens and can be used for asset digitization on blockchains.
In addition to the blockchain, Rainbow Wallet and IOBScan explorer will upgrade at the same time to support the new versions of IRISnet (www.irisplorer.io; irishub.iobscan.io) and Cosmos mainnet (cosmoshub.iobscan.io). The interchain explorer IOBScan will also support to display the cross-chain transactions, the cross-chain services and other data, aiming to become the interchain visualization portal.
Next, IRIS Hub v1.0 will depend on the governance situation of Cosmos Hub to make the cross-chain transfer function available; conduct the ecosystem collaborations and operation activities for functions such as Coinswap (AMM), NFT, etc.; continue to develop and launch functions including Ethereum Peg and CosmWasm as well. Through these efforts, IRISnet will step closer to achieve the vision of an Interchain Service infrastructure and protocol for building trustworthy and distributed business applications.
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