IRISnet has announced that it has entered into a strategic relationship with MYKEY. It will help IRISnet to bring on board the various technologies of MYKEY, including the Smart Wallet and digital identity. The MYKEY ecosystem will be integrated into the IRISnet blockchains, facilitating the construction of application blockchains and distributed applications.
IRISnet, on its part, will provide MYKEY cross-chain services through cross-chain technologies that are fully reliable and capable of protecting the private data of the different users and also allows the users to experience blockchain applications like DiFi. IRISnet and MYKEY have committed to each other to work in tandem to develop the blockchain ecosystem.
MYKEY is a type of smart wallet that is positioned in many public chains based on the KEY ID protocol. MYKEY boasts of a superior stablecoin transaction and financial experience aggregating the best financial products. It allows the users’ free blockchain accounts and fully optimizes the registration process and thus enabling them to have a smart wallet easily. The MYKEY accounts have many security features that allow for better security and availability like asset freezing and unfreezing, sending transactions without GAS and private key recovery. At present. MYKEY supports Ethereum and EOS, and more blockchains will undoubtedly be available in the future.
IRISnet (IRIS) is a type of cryptocurrency that was launched in March 2019. It has been designed to be the foundation for the next-gen distributed applications. It has a unified service model through which cross-chain interoperability is allowed by the IRIS Hub. It also has multiple modules to support the DeFi applications. The principal exchanging value among the users is the IRIS token. The token is useful for both paying and staking. It also gives voting rights to the users for participating in the network administration. IRIS is also required to pay Hub fees and to reward the service providers. The network does support a multi-token model that allows the service providers to charge using a set of listed tokens freely. It is important to note that IRIS Hub is the 1st evolutionary blockchain launched in the Cosmos ecosystem.
