What is Irys?

Irys is a blockchain protocol that integrates a low-cost storage layer with a native execution layer, allowing data to be stored and processed directly within the same system. It uses a multi-ledger architecture to support both temporary and permanent data storage. It features an EVM-compatible execution environment (IrysVM) that enables smart contracts to interact with on-chain data natively. This design allows applications to store, retrieve, and process large volumes of data efficiently and at a lower cost compared to existing Web2 and Web3 solutions. Irys offers scalable data capacity, rapid access, and a composable infrastructure for building on-chain services that utilize and exchange data.