Deep Dive
1. Purpose and value proposition
Irys describes itself as a permissionless, programmable data layer: developers can store data onchain and access it through tools such as APIs and software development kits. The goal is to support applications that need durable, verifiable data, including data intensive services. (Irys documentation)
2. Technology and architecture
Irys combines data storage with smart contract execution through IrysVM, an execution environment compatible with Ethereum’s virtual machine (EVM). In practical terms, this is intended to let smart contracts work with data stored on Irys, rather than relying entirely on separate storage services. (Irys overview)
3. IRYS token’s role
IRYS is the network’s native token. Project descriptions say it is used to pay storage and execution fees, and can be staked to support network validation. (The Defiant)
Conclusion
Irys is a programmable blockchain data network, with IRYS supporting its usage and security. Can its storage and execution design make onchain data easier for developers to build with?
