IRISnet ranks #324 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #4030: 3706 of the 4029 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 4293 non-native assets CoinSpectrum lists above it by market cap, about 85% are tokens, 13% are claims on other assets and 2% are memecoins.
| CoinSpectrum Grade | pending — launch under review |
|---|---|
| Rank among cryptocurrencies | #324 |
| Rank counting claims | #4030 |
| Market capitalisation | $24 |
| Price | $1.47e-8 |
| Circulating supply | 1,633,195,019 IRIS |
| Maximum supply | no fixed cap |
| Consensus family | Other |
| Consensus mechanism | — not yet curated |
| Ledger type | Single-asset ledger |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
Grade pending. IRISnet's launch — how much went to insiders, whether it was sold to investors — is still being researched. A grade is not given until it is, so that a coin is never rated higher for what is not yet known.
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | — | group average, 0 of 2 measured |
| Consensus: leader ladder | — | Consensus not yet reviewed |
| Consensus: family ladder | — | Consensus not yet reviewed |
| Cryptocurrency Standards (Source) | 6.4 | group average, 3 of 13 measured |
| Sound Money Qualities (6 checks) | — | 1.4 of 3 points, 3 not yet measured |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 3.8 | no fixed maximum; 1.63 billion in circulation: supply scale 7.5, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | – | 7 full years since its first recorded price, record not yet reviewed |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | – | |
| Divisibility: the smallest unit worth a cent or less | ✓ | 6 decimal places, the smallest unit worth $1.5e-14 |
| Portability: fees of a cent or less and capacity for real demand | ✗ | about 85 transactions a second (4.5 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | – | light clients verify from headers or proofs |
| Privacy (5 checks) | 2.5 | 1 of 5 passed, 1 not yet measured source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Accounts are created from user-generated keys in the Cosmos SDK auth and bank modules, with no identity check on holding or sending. |
| UTXO ledger: a new key for each payment, no account linking every coin | – | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | CometBFT gossips transactions without origin hiding; no Dandelion or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Transparent bank-module transfers. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Plain public bech32 accounts. |
| Scalability (fees, throughput, block time, block space, features) | 6.8 | average of 4 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 4.5 | about 85 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.8 | a block every 5.82 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 2 MB limit, 206 MB per 10 minutes |
| Features (3 checks) | 10 | 2 of 2 passed, 1 not yet researched |
| Payments safe to accept within seconds | – | |
| Pruned nodes: a full node can validate and drop old history | ✓ | Cosmos SDK pruning ('default'/'everything') plus CometBFT min-retain-blocks and state sync let a node keep only recent state and blocks. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | irishub v4.1.0 runs CometBFT 0.38.21, whose light client (used by IBC) verifies headers from validator signatures. |
| Security (miner pay and 7 checks) | — | 0 of 3 points, 6 not yet measured |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 0 | not mined |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | – | |
| Largest three under 75% | – | |
| More than one maintained client | – | |
| Node software is open source | – | |
| Real on-chain use: 1,000+ transactions a day | – | |
| No 51% attack or deep reorganisation in five years | – | |
| Programmability (tokens, contracts, 5 checks) | 10 | 9 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | The IRIShub token module lets any account issue native tokens for a fee (currently 1,000 IRIS base fee), and IRIShub 2.0 added an EVM for ERC-20 contracts. |
| Smart contracts: a general-purpose contract system | 2 | EVM module (irisevm) added in IRIShub 2.0, open to any account, on a mainnet producing blocks on 2026-10-28. |
| Multisig and time locks | ✓ | Cosmos SDK multisig keys and vesting accounts, plus the native htlc module's time locks. |
| Atomic swaps with other chains | ✓ | Native htlc module (irismod) for hash-time-locked transfers, usable for cross-chain atomic swaps. |
| An exchange built into the protocol | ✓ | coinswap module (irismod), a Uniswap-style AMM in the protocol, plus the farm module. |
| Cross-chain messaging the chain verifies itself | ✓ | IBC core with the 07-tendermint light client, plus TIBC, in the IRIShub app. |
| Non-fungible tokens | ✓ | Native nft and mt (multi-token) modules (irismod) in the IRIShub app. |
| Decentralisation | — | section average, 0 of 8 measured |
| Censorship resistant (Source) | — | Not yet researched |
| No central team (Source) | — | Not yet researched |
| Who can mint (Source) | — | Consensus not yet reviewed |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | — | Launch not yet researched |
| Fundraising | — | Launch not yet researched |
| Developer share (after launch) | — | Not yet researched |
| Supply & Demand | 3.8 | group average |
| Supply & Demand (Source) | 0 | average of 2 measures |
| Exchanges (10 or more: 10) | 0 | no exchange the site reads trades it |
| Daily volume ($10K 0, $1B or more 10) | – | no volume reported |
| Turnover (volume ÷ market cap, 5% a day: 10) | – | not measured |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | – | no order book on the nine exchanges read |
| Market cap ($1M 0, $10B or more 10) | 0 | $0K, 0 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | – | not measured |
| Supply (smaller is better) | 7.5 | no fixed maximum; 1.63 billion in circulation |
| Record | 3.5 | group average, 2 of 3 measured |
| Record (origin, claims, halts) | — | Not yet reviewed |
| Age (years since genesis) (Source) | 7 | 7 full years since 2019-04-18, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 0 | 1 positive, 1 negative source |
| Positive | ||
| Shipped a security fix in two years, +1 | ✓ | irishub v4.0.1, Mar 2025: ibc-go 8.7.0 (the ISA-2025-001 fix); v4.0.2/v4.0.3 (Jan 2026) moved to CometBFT v0.38.21, the CSA-2026-001 patch. |
| Negative | ||
| Unfixed vulnerability, disclosed 2025-07-08, −1 | ✗ | Cosmos SDK ISA-2025-005 (GHSA-p22h-3m2v-cmgh, High) lets a deposit into a validator rewards pool overflow and halt the chain; irishub v4.1.0 is on cosmos-sdk v0.50.11-lsm, without the v0.50.14 fix. |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
1,633,195,019 IRIS are in circulation, against no fixed cap — issuance has no defined end.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
IRISnet is #324 among cryptocurrencies and #4030 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 3706 places between IRISnet's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).