About Irys

Irys is a Layer 1 datachain designed to integrate on-chain data storage with smart contract execution within a cohesive network framework. Unlike traditional smart contract platforms that primarily focus on financial transactions, Irys addresses the limitations of existing systems by providing robust mechanisms for large-scale data management. Its architecture allows for seamless interaction between data storage and smart contracts, facilitated by IrysVM, the network's proprietary execution layer. Users have the flexibility to select from various storage options, including temporary term storage or permanent storage, both offered at competitive, cost-effective pricing. This pricing model is sustained through a multi-revenue approach that encompasses storage fees, execution fees, and programmable data transactions. The Irys network is designed for scalability and efficiency, ensuring instant data retrieval and the capability to expand horizontally as demand increases. This is achieved by incorporating additional validators who are responsible for maintaining specific data partitions, thereby enhancing the network's capacity. The native token, $IRYS, plays a crucial role in the ecosystem, serving as the medium for all storage and execution fees as well as for validator staking. This comprehensive approach not only fosters economic sustainability but also positions Irys as a versatile solution for developers and businesses looking to leverage programmable data within their applications.