Irys is a newly positioned Programmable Datachain, breaking through the traditional storage chain concept, transforming on-chain data from "static storage" into a callable and rewriteable data layer. It combines smart contracts with permanent storage technology, allowing data to be directly applied, used by AI models and dApps, and becoming an important milestone in Web3 data infrastructure.
The new paradigm of Programmability materials
Irys is not a traditional storage chain or EVM public chain, but a Programmable Datachain restructured from the architectural level. Its core mission is to ensure that on-chain data is no longer just passively stored, but can be “directly used by smart contracts.” This means that developers can build applications that require long-term data support in an integrated environment of storage and computation, such as AI model training, data index analysis, or long-term record systems. Irys transforms data from a passive asset into an active component, changing the development logic of Web3.
Structured Multi-Ledger System
Irys adopts a multi-ledger architecture, allowing data to seamlessly transition between “temporary verification” and “permanent storage.” This enables the data to possess three characteristics simultaneously:
- Low-cost storage: Avoid high long-term costs of storing data on-chain.
- Data Security: Miners need to stake assets to ensure that the data cannot be tampered with.
- High Programmability: Through IrysVM, it is possible to directly call and manipulate permanent data on the chain.
This technology supports various high data application scenarios, such as AI training, audio-visual media, social record content, and publishing materials, making Irys an ideal foundational layer for data-intensive applications.
Dual Consensus: A Balance between Security and Integrity
Irys adopts a dual consensus design combining PoW (Proof of Work) and PoS (Proof of Stake). PoW ensures that miners contribute computational resources to maintain network security; PoS requires nodes to stake on specific data blocks as a guarantee of data integrity. This structure can:
- Increase the cost of malicious attacks;
- Make data traceability transparent;
- Maintain decentralized consensus efficiency while ensuring security.
The result is a highly trustworthy storage network that balances computation verification and data authenticity.
IrysVM: Redefining Data Usage for Smart Contracts
IrysVM is an extension of the EVM (Ethereum Virtual Machine), but it is no longer limited to computation logic. It allows smart contracts to directly manipulate on-chain data, enabling instant querying, updating, and filtering of large datasets. This concept of “Programmability” allows AI models to read training data directly on-chain, financial applications to analyze historical transaction records, and the metadata of NFTs and game assets to be fully on-chain.
IrysVM has realized the true “data-driven contracts”, enabling the on-chain world to operate in conjunction with data science for the first time.
The economic cycle of the IRYS token
IRYS is the core token of the entire network, serving three main functions: fuel, staking, and burning.
- Usage: Used for executing smart contracts and data storage, with dynamic cost adjustment to prevent spam.
- Security: Nodes must stake $IRYS to participate in data validation. Honest nodes can earn rewards, while malicious behavior will result in a reduction of their stake.
- Sinks (Burning): Partial burning mechanisms ensure long-term deflation of the token, with increased scarcity as the scale of network usage grows.
The initial supply is 10 billion IRYS, with the highest proportion allocated to ecological expansion, foundations, and community incentives, emphasizing a community-oriented economic model of “long-term construction” and “continuous participation.”
Financing Background and Market Positioning
Since its launch, Irys has attracted the attention of top capital. Its Series A financing reached $10 million (led by CoinFund), with early investors including institutions such as Hypersphere, Framework, and Lemniscap. The investment focus is clearly directed towards two major tracks: “data infrastructure” and “Programmability” in data applications.
As the data-driven dApp, AI, and RWA markets continue to expand, Irys is becoming a key hub for on-chain data supply and usage.
Summary
The Programmable Datachain model pioneered by Irys makes on-chain data the core driving force of the Web3 ecosystem. From multi-ledger storage and dual consensus to an interactive smart contract environment, it redefines the role of data in blockchain. In the future, with the continuous growth of AI and data application demands, Irys is expected to become the standard model for the next generation of on-chain data infrastructure, driving Web3 from information verification to a new era of data intelligence.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
