What is Iron Fish (IRON)?
IRON is the native token of the Iron Fish network, which provides users with completely private transactions. In order to do that, it employs zk-SNARK technology. Thus, the network encrypts all transactions in order to secure your private information from others. Besides, it follows the Sapling protocol and provides Iron Fish account owners with viewing keys, which they can use to provide others with read-only access to their transaction records.
Care to see the current IRON price? Make sure to analyze the Iron Fish price chart above.
The Iron Fish network is a censorship-resistant Layer-1 chain that runs based on the Proof-of-Work (PoW) consensus mechanism. Thus, it is powered by a network of miners and nodes. Additionally, it's important to note that the Iron Fish crypto project supports WebRTC with WebSockets. Thus, it allows users to create Peer-to-Peer (P2P) connections and lowers the barrier for miners. In fact, in the future, Iron Fish plans to make it possible to run full nodes directly in the browser.
Use Cases of IRON Tokens
The main use case of IRON coins is mining. Since the Iron Fish crypto network is based on the PoW consensus mechanism, you can become a miner on it and get rewarded with IRON tokens for confirming transactions and creating new blocks.
Of course, besides that, you can use IRON tokens to make completely private transactions.
If you're interested in buying the IRON coin, though, make sure to analyze the current and the previous IRON price. You can use the Iron Fish price chart above to do that.
Who Founded Iron Fish?
The founder and CEO of the Iron Fish crypto project is Elena Nadolinski. She has a degree in computer science from Virginia Polytechnic Institute and State University. Prior to founding Iron Fish, she was a software developer intern, and later a software engineer, at such companies as Microsoft, Rackspace Hosting, Tilt.com, and Airbnb.
However, it's also important to note that Iron Fist is a decentralized and open-source network. Thus, the whole Iron Fish community plays an important role in the development process.
Tokenomics of IRON
There is no total or max supply set for IRON tokens. It increases with every mined block because miners are rewarded with new tokens each time. The Iron Fish Genesis block contained 42 million IRON coins. However, each year, the block rewards should decrease.
For this reason, the majority of the IRON token supply (over 80%) is dedicated for mining rewards. The remaining portion is split between the foundation, future development, core team, seed rounds, airdrops, and so on.
Don't forget to check the current IRON price above.
