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  • 5ire
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5ire Price (5IRE)

₹ 12.6390000000 2.63 %

Low : ₹ 11.2600 High : ₹ 12.0100

Market Cap

₹0.5 B

0.9151 %

All Time High : ₹38.8300

All Time Low : ₹11.2600

Volume

₹121.02 M

Circulating Supply 43352700
Max Supply 1500000000

5ire Price Live Chart

5ire

5ire represents a dual-chain blockchain system incorporating both EVM and WASM functionalities. This ecosystem is dedicated to addressing global sustainability challenges, in alignment with the United Nations' 2030 agenda for sustainable development. At the heart of 5ireChain, the native blockchain of 5ire, lies an innovative SPoS (Sustainable Proof-of-Stake) consensus mechanism. 

This mechanism incentivizes validators by rewarding them more for contributing to sustainability efforts. The primary objective of 5ire is to transition from a profit-centric model to one that prioritizes societal benefit. Its aim is to merge blockchain technology with sustainability principles while integrating governmental, corporate, and institutional activities and reporting related to real-world assets focused on sustainability.


What is 5ire?

5ire stands as an innovative Layer 1 EVM-compatible blockchain platform that is transforming the industry by amalgamating sustainability and technology. It employs a sustainable proof of stake model to mitigate its environmental impact, making it the pioneering sustainable blockchain, signaling a significant move towards eco-friendly practices.


Sustainable Proof of Stake

The groundbreaking use of a sustainable proof of stake (PoS) model distinguishes 5ire from others. This model not only tackles the efficiency and scalability issues commonly found in conventional blockchains but also prioritizes the reduction of ecological footprints. 

Operating as a governance-based system, it aligns blockchain governance with the United Nations Sustainable Development Goals (SDGs), promoting a sustainable and ethical blockchain ecosystem. By embracing a sustainable PoS model, 5ire showcases its dedication to environmental stewardship while upholding the expected strength and security of modern blockchain platforms.


Background & Founders

Established in 2021 by Pratik Gauri and Prateek Dwivedi,[6] the development of 5ireChain commenced in the same year. 5ireChain, built on a Proof-of-Stake (PoS) consensus mechanism, focuses on energy efficiency and carbon neutrality. 5ire successfully secured $100 million in a Series A funding round in July 2022.


What is the 5IRE Token?

The 5IRE token, native to the 5ire ecosystem, is available for purchase via Bybit. As the principal token of the platform, 5IRE serves various purposes:

  • Voting: Users can participate in voting for enhancements within the 5ire ecosystem.

  • Transaction Fees: 5IRE tokens can cover transaction fees.

  • External Trading: 5IRE is tradable on external cryptocurrency exchanges such as Bybit.


Milestones and Ongoing Development

During the Beta phase of its testnet, 5ireChain achieved remarkable engagement and activity metrics. The platform recorded more than 21 million transactions, demonstrating its resilience and widespread user acceptance. Moreover, the network boasted over 270,000 active wallets, signaling a robust and expanding user community. 

Additionally, there were over 23,000 nominators, showcasing an active involvement and interest in the network's governance and staking mechanisms. These figures emphasize the significant traction and community backing 5ireChain has gained during its testnet phase.

On November 7, 2023, the 5ire team announced the forthcoming launch of its long-anticipated 5IRE token, set for early December. As 5ireChain prepares for its mainnet debut, it expresses immense gratitude to its devoted community. The testnet phase played a pivotal role in refining the platform, with user feedback and engagement proving invaluable. 

The future of blockchain technology holds promise, and 5ireChain stands at the forefront of this transformative revolution, heralding a new era of decentralized innovation and limitless potential. 5ire is unquestionably a project worth monitoring in the ever-evolving landscape of blockchain technology.


Key Features of the 5ire Ecosystem

5ireChain: Serving as the foundation of the 5ire ecosystem, 5ireChain aims to be both high-performing and environmentally conscious. Leveraging the Substrate framework and offering full EVM compatibility, its unique dual-chain architecture facilitates the seamless integration of Substrate-native and EVM accounts, all managed through a single key. This characteristic enhances the platform's flexibility and user experience.
The Layer 1 blockchain network of 5ireChain supports various applications, spanning decentralized finance (DeFi) to smart contracts, all while maintaining a minimal environmental impact. The platform's architecture ensures rapid transaction speeds, scalability, and robust security, making it suitable for existing and future blockchain applications.

Smart Contract Capabilities: 5ireChain supports Wasm (WebAssembly) smart contracts written in ink!, a Rust-embedded domain-specific language, providing native backing for this advanced technology. 
Additionally, it fully embraces Solidity smart contracts, ensuring compatibility with numerous existing blockchain applications. The platform is actively exploring interoperability between Wasm and Solidity smart contracts to create a more versatile and inclusive ecosystem.


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5ire news

15 hours 38 minutes 24 seconds ago

Debut of 5IRE Token Garners Massive Response on Bybit Launchpad

The launch of 5ire’s native token ‘5IRE’ on the Bybit launchpad has been a resounding success, marking a significant milestone for India’s fastest-growing unicorn.

Read More