IRISnet, an interchain service hub for next-gen dApps, has successfully upgraded to Mainnet 1.1 on March 31st. The upgrade is now live and aims to give more robust support to Coinswap and other applications. The team tweeted the announcement, saying,
"On March 31st, IRISnet has successfully & swiftly upgraded to mainnet 1.1 within around 40 mins! This Mainnet 1.1 has been live to better support #Coinswap & other apps. Much appreciate Mainnet Validators' active participation & IRISgardians' strong support. "
Majority Of Validator Nodes Upgraded Within 40 Minutes
The team submitted the IRISnet Mainnet 1.1 upgrade proposal on March 26th. It included the specifics of the new software version, upgrade time, upgrade steps, and other details. Community voting was carried out for five days where the participation of the voting was 60.30%, with 99.99% of "yes" votes.
Following the planned proposal, the node software halted on March 31st, 14:00 UTC, and the upgrade started officially. It took only 40 minutes for over 67% of validators nodes to complete the upgrade and start running, successfully upgrading to IRIS Hub 1.1 Mainnet.
What Features Does The Upgrade Bring?
The upgraded IRIS Hub 1.1 integrated fixed Cosmos SDK and optimized the Hash Lock feature providing better support to Coinswap operations. Bianjie, the core development team behind IRISnet, reported an underlying security vulnerability of Cosmos SDK. The bug can trigger security issues of features such as IBC cross-chain transfer.
The Bianjie team provided a solution to fix the bug by releasing the Cosmos SDK v0.42.3 containing the security bug fix. Irishub v1.1.0 has integrated this version of Cosmos SDK to improve the security of the IRISnet mainnet 1.1.
The original HTLC module has been upgraded to optimize the interchain Hash Lock transfer feature. This supports the cross-chain transfer of assets between IRIS Hub and other blockchain networks like Binance Smart Chain (BSC). The upgrade has equipped multiple interchain transfer methods, including IBC, Hash Lock, and Gateway, to name a few.
The team at IRISnet chalked up their success to its community and stated the same on their blog post, saying,
"The swift and successful completion of this IRISnet mainnet upgrade is inseparable from the support from the community, especially the mainnet validators. Thank you, IRISgardians! Let us look forward to the enable of IBC, Coinswap app, and more new features on mainnet!"
IRISnet is built with Cosmos-SDK and enables cross-chain interoperability while providing modules to support DeFi. IRISnet, officially launched on March 1st, 2019, was designed and developed by the team of tech experts behind Bianjie AI, a Shanghai-based high-tech company founded in 2016.
The protocol aims to employ different public and consortium blockchains to bring the advantage of decentralized, open networks to businesses and freelance service providers. IRISnet was named after Iris, the personification of the rainbow and the messenger of the gods in Greek mythology.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.