What is Irys (IRYS)?

Deep Dive

1. Purpose: onchain data

Irys describes itself as a permissionless data layer for storing information onchain and accessing it through developer tools. The goal is to support applications that need data to remain available and verifiable, rather than keeping it on a company’s servers. (Irys documentation)

2. Technology: storage meets execution

Irys combines data storage with smart contracts, programs that run on a blockchain. Its IrysVM is described as compatible with Ethereum’s programming environment, with the aim of letting applications use stored data directly. The IRYS token is used for network activity, including fees and staking, according to Gate Learn.

Conclusion

At its core, Irys is a programmable blockchain data layer: it seeks to make stored information usable by applications, not just archived. How well can it make that combination of storage and execution practical for developers?null