Irys (IRYS)

Irys brings these functions together through a datachain architecture. Developers can store information on the network and also build applications that interact with that data directly through IrysVM, its EVM-compatible execution layer. This makes stored data programmable, allowing applications to use it as part of smart contract workflows rather than treating it as a separate offchain or externally referenced resource.

The network offers two storage models. Term storage allows users to pay for data retention over a selected duration, while permanent storage is structured around a one-time payment for long-term availability. Irys presents both options with at-cost pricing, supported by a broader fee model that includes storage activity, execution fees, and programmable data transactions.

Scalability is based on expanding network capacity as more validators join. Validators are assigned data partitions and are required to prove they continue maintaining the data for which they are responsible. This approach is intended to support rapid data retrieval and horizontal scaling as demand increases.

The IRYS token is the native asset of the network. It is used to pay for storage and execution and also supports validator staking. Irys stands out by treating data as an active, programmable component of blockchain applications, not merely as content stored beside them.