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IRIS Network ICO Overview
The IRIS Arrangement ICO and IRIS badge auction are adopting funds against an inter-chain account basement and protocol. IRIS Arrangement lays the background for a arrangement of broadcast ledgers able of amalgam disparate business services, including accessible and proprietary chains in accession to action bequest systems. IRIS Arrangement is itself an instance of Cosmos, and will aggrandize the interoperable ecosystem as a bounded hub.
IRIS Network ICO Value Proposition
The IRIS arrangement aims to arrange the aforementioned cartography as Cosmos while abacus a set of commutual appearance to the ecosystem. IRIS will affix to the Cosmos Hub, authoritative an broadcast set of functions accessible to any actor affiliated at any point in the network. IRIS abounding nodes, developed with the IRIS SDK (an addendum of the Cosmos SDK), will accommodate both a service-oriented basement and affiliation of IPFS.
IRIS Hub
The aboriginal basic of the activity is the deployment and affiliation of the IRIS Hub with the Cosmos Hub, and will accommodate the barrage of a adaptable applicant to admission the network. The amount action of clandestine and accessible alternation interoperability is provided by the IRISHub.
iServices
The additional basic is the IRIS Account Layer, referred to as iServices. This band enables account definition, bounden (provider registration), abracadabra and querying functions throughout the absolute network. iServices is advised to arch the gap amid blockchain and accepted action applications, giving developers admission to a complete set of off-chain functions for amalgam business logic. The band additionally serves as an adapter amid proprietary chains, bequest action systems and the IRIS Hub.
Diagram of IRIS Service Infrastructure
IRIS Token Economics
IRIS Badge (IRIS) is the primary agency of exchanging amount amid users. The badge is activated both for staking and acquittal of fees. The badge additionally provides voting ability for accommodating in babyminding of the network.
IRIS is appropriate to pay for Hub fees and can additionally be acclimated to accolade account providers. However, the arrangement will abutment a multi-token archetypal that allows account providers the abandon to allegation application a alternation of whitelisted tokens, which will initially accommodate the Cosmos Arrangement built-in badge (ATOM) and ETH.
A adjustable acquittal arrangement is active to affluence acceptance and addition the cardinal of inter-blockchain affairs in altered currencies, which will access the appeal for IRIS tokens to accolade validator nodes.
IRIS Network ICO Team
IRIS Network is the aftereffect of accord amid several blockchain enterprises – Tendermint (currently architecture Cosmos), Wancloud (a accessory of Wanxiang Blockchain) and Bianjie AI. Tendermint provides abstruse blank and development abutment to the IRIS Network team. Wancloud acts as a cardinal accomplice for growing the IRIS Network ecosystem. The amount aggregation associates acquire from all three organizations.
Harriet Cao (Co-founder) is the architect of Bianjie AI, a Shanghai-based startup that produces proprietary blockchain solutions for AI-based business collaboration. Prior to establishing Bianjie AI, Harriet has spent added than 16 years at IBM Research, confined in a array of capacities, including Director of the IBM Research Shanghai Lab and Head of Big Data Analytics at IBM Global Labs. Harriet has an MS in Robotics from Carnegie Mellon University and an MEng in Automation from Tsinghua University.
Haifeng Xi (Director and Co-founder) is the Chairman and Co-founder of Bianjie AI. After abiding to China from the US in 2009, he captivated three after CTO positions, the best contempo with Wancloud. Haifeng has an MS in Electrical and Computer Engineering from the University of Maryland and an MEng in Automation from Tsinghua University.
Jae Kwon is the CEO and Founder of Tendermint and Cosmos Network. He is additionally President of the Interchain Foundation, accustomed to advance open-source software and protocols for the “Internet of Blockchains”. As an basic angle of the Cosmos ecosystem, Jae oversees development of IRIS Network. Jae holds a BS in Computer Science from Cornell University.
Tom Tao serves as VP of Wanxiang Blockchain and is amenable for consulting services, the Wancloud BaaS Platform, and the ChainBase activity accelerator. Prior to abutting Wanxiang, Tom served in both authoritative and controlling roles at IBM and Hewlett-Packard. He holds an MS in Physics from Fudan University.
The IRIS Network aggregation includes 30 associates in total, 25 of whom are developers. There are six admiral currently acknowledging the project. Among them are Yubo Ruan, Founder of 8 Decimal Capital, and Adrian Brink, Core Developer and Head of Community at Tendermint/Cosmos.
IRIS Network ICO Strengths and Opportunities
The aggregation abaft IRIS Network has already auspiciously developed blockchain products, including Blockchain Edge Analytics Network (BEAN), a permissioned alternation for broadcast abstracts assay in the bloom affliction sector. IRIS Network will absorb this an instance of this artefact into the account band as a apparatus to access abstracts for analytics models.
Enterprise users of the proprietary alternation will accept admission to alien sources of abstracts offered by added participants on the network, enabling use cases such as a secure, broadcast AI-training through IRIS Hub.
The whitepaper presents a abstract archetype of a bunch alternation amid a hospital and a medical allowance aggregation to allegorize this use case- medical allowance claims can be accounting to the balance while statistical abstracts for analysis is calm in a defended address and invoked by 3rd parties in acknowledgment for a reward.
Because IRIS Arrangement and Cosmos are integrated, the account band can be invoked from any blockchain aural the ecosystem. While IRIS Arrangement is referred to as a bounded hub, this does not absolute admission to casework in anyway. Bounded participants will affix to the arrangement via IRIS Hub, but the casework are universally available. On the arrangement itself, the aggregation has fabricated cogent advance and the testnet is currently attainable to the public.
IRIS Network ICO Weaknesses and Threats
The amount add IRIS Arrangement brings to the Cosmos ecosystem will alone authority weight insofar as Cosmos itself is activated to affix disparare blockchains. This alternation agency the trajectories of anniversary arrangement are abundantly intertwined.
The Creation ICO was conducted in April 2017 but the mainnet has still not launched. With the Creation mainnet absolution TBD, it’s cryptic at this date which instance will barrage first. Further, there is no curtailment of interoperability-focused networks aggressive for users, with several accustomed projects arch the way.
While ancestor aggregation Bianjie has purportedly been alive with several enterprises on the development and deployment of BEAN, IRIS Arrangement has not appear any agreements to pilot use of the accessible network.
The absolute ally application Bianjie’s proprietary alternation could authority some abeyant as approaching users, but in and of themselves don’t arresting any absolute appeal for the accessible network.
With a aggregation comprised about absolutely of developers, assets for business and architecture absorption amid the ambition demographic of B2B users are limited. Without committed assets to accession acquaintance in the association and amid abeyant action customers, the arrangement will see little adoption.
The Verdict on the IRIS Network ICO
The IRIS Arrangement ICO offers a absolute foundation for an chip arrangement of interoperable blockchains. Through the iServices layer, a aggregation of use case scenarios become accessible through new configurations of accessible and clandestine chains. The multi-token archetypal and accouterment of a developer-friendly SDK serve to added facilitate this aim through affluence of adoption.
While efforts to bazaar the activity arise limited, the aggregation has fabricated cogent advance on development of the network. With a accomplished artefact on the horizon, now is the appropriate time to alpha architecture a user base.
Additional Information
We accept been in discussions with the IRIS Network ICO aggregation and our ratings are based on conversations and advice that they accept asked us to accumulate confidential. Please agenda that our analysis does booty into application the badge abstracts that has been aggregate with us, but we accept been accurately requested not to allotment the badge metrics that we accept apparent at this point. We will allotment them as anon as they are fabricated accessible by the team.
As a Top 10% rated ICO, we will attending to accomplish a baby bet on the IRIS Network ICO.
IRIS NETWORK ICO REVIEW SCORES
SUMMARY
The IRIS ICO joins the army of protocols gluttonous to actualize interoperable blockchains – which is not a bad thing. Clearly there will be no ‘one alternation to aphorism them all’, and accordingly solutions that acquiesce for disparate blockchains to acquaint finer will be in aerial appeal as action acceptance increases. IRIS is abacus affiliation to bequest business systems which, theoretically, should acquiesce for boilerplate acceptance afore the developing blockchain ecosystem is mature. If IRIS can onboard above audience at an beforehand date than added interoperability solutions, it should accept a aggressive advantage. But appropriate now, we are anxious this advantage may be squandered: there is congenital assurance on the Cosmos network, and little arresting affirmation that the dev-heavy aggregation is maximising a key advantage by onboarding partners. They accept the appropriate idea, and sometimes that’s abundant – but it’s all about who buys in.
Founding Team……………………….7.5
Product…………………………………..8.2
Token Utility…………………………..6.5
Market…………………………………..7.8
Competition…………………………..5.0
Timing……………………………………6.5
Progress To Date……………………7.0
Community Support & Hype…..6.2
Price & Token Distribution……..6.0
Communication……………………..8.1
FINAL SCORE……………………….7.0
Upsides
Downsides
Today’s Date: 9/15/18
Project Name: IRIS Network
Token Symbol: IRIS
Website: https://www.irisnet.org/#
White Paper: IRIS Network Whitepaper
Additional Information: https://t.me/irisnetwork
The aggregation at Crypto Briefing analyzes an antecedent bread alms (ICO) adjoin ten criteria, as apparent above. These belief are not, however, abounding analogously – our proprietary appraisement arrangement attributes altered degrees of accent to anniversary of the criteria, based on our acquaintance of how anon they can advance to the success of the ICO in question, and its investors.
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Founding Team
This class accounts for the leaders, developers, and advisors.
Poor quality, weak, or amateur administration can doom a activity from the outset. Advisors who serve alone to pad their own resumes and who accept aside roles can be concerning. But abundant leadership, with accordant industry acquaintance and contacts, can accomplish the aberration amid a acknowledged and assisting ICO, and a flub.
If you don’t accept a aggregation accommodating and able to body the thing, it won’t amount who is at the helm. Good aptitude is adamantine to find. Developer profiles should be scrutinized to ensure that they accept a accurate history of alive in a acreage area they should be able to succeed.
Product
What is the technology abaft this ICO, what artefact are they creating, and is it new, innovative, altered – and needed?
The IOTA activity is a amazing archetype of engineers run amok. The technology declared or in use charge be maintainable, achievable, and realistic, contrarily the accident of it never advancing into actuality is abundantly high.
Token Utility
Tokens which accept no absolute use case are apparently the affliction off, although belief can still accomplish them accept some anatomy of value.
The best tokens we analysis are the ones that accept a affected use case – you charge accept this badge to comedy in some bold that you will apparently admiration to comedy in. The actual best account tokens are the ones which put the badge holder in the position of bartering tokens to businesses who would be able to finer accomplish use of the platforms in question.
Market
There doesn’t accept to be a bazaar in adjustment for an ICO to account able-bodied in this class – but if it intends to actualize one, the altercation has to be acutely compelling.
If there is an absolute market, questions actuality absorb whether it is accomplished for disruption, whether the technology enables article better, cheaper, or faster (for example) than absolute solutions, and whether the bazaar is historically acquiescent to new ideas.
Competition
Most account accept several implementations. If there are others in the aforementioned field, the analyst needs to ensure that the others don’t accept accessible advantages over the aggregation in question.
Moreover, this is the abode area the analyst should analyze any abeyant weaknesses in the company’s position affective forward. For instance, a axiological weakness in the STORJ arrangement is that the badge is not appropriate for purchasing storage.
Timing
With abounding ICO ideas, the timing may be too backward or too early. It’s important for the analyst to accede how abundant appeal there is for the artefact in question. While the IPO bang adjourned a lot of abundant account that eventually did appear to fruition, a acceptable analyst would admit back an abstraction is too early, too late, or aloof right.
Progress To Date
Some of the atomic acute ICO propositions are those that affirmation their founders will accomplish some abroad goal, ancient in the future, aloof so continued as they accept your banknote with which to do it.
More absorbing (usually) is the ICO that seeks to added some advance forth the aisle to success, and which has a clearly-identified roadmap with accessible and reasonable milestones forth the way. Founders who are already partially-invested in their articles are about added invested in their futures.
Community Support & Hype
Having a able association is one of the axiological architecture blocks of any able blockchain project. It is important that the activity demonstrates aboriginal on that it is able to accomplish and body a able and empowered abutment base.
The ICO exchange is acceptable added awash and added competitive. While in the accomplished it was abundant to alone advertise an offering, today’s acknowledged ICO’s assignment adamantine to body acquaintance and action about their offering.
Price & Token Distribution
One of the better factors belief any assay is price. The lower the amount the added there is to gain. But too low of a amount may aftereffect in an beneath capitalized project. It is accordingly important to appraise amount about to the alone project, its ability and the bazaar it is activity after.
The absolute accumulation of tokens should additionally be justified by the needs of the project. Issuing a billion tokens for no acumen will do cipher any good.
Communication
Communication is key. The success of a activity is acerb angry to the activity leaders’ adeptness to acquaint their goals and achievements.
Things don’t consistently go as planned but acclamation issues and befitting the association and investors in the bend can accomplish or breach a project.
