How Irys is Making Blockchain Data Cheaper, Faster, and Smarter
In Brief
Irys is redefining blockchain data with programmable data chains, enabling cheaper, smarter, and more efficient storage. According to Founder Josh Benaron, this innovation transforms data from a static cost into a dynamic asset, unlocking new possibilities for AI, Web3, and decentralized applications.
Josh Benaron, Founder of Irys, spoke at the Hack Seasons Conference on the company’s ground-breaking work on programmable data chains, a new concept that intends to alter how data is stored, used, and monetized on the blockchain.
What is a Programmable Data Chain?
Traditional blockchains, like Ethereum and Solana, have intrinsic constraints in terms of data storage. They can only hold a minimal amount of data, and on-chain storage is notoriously expensive. Irys intends to address this issue by developing a data chain, a blockchain that is particularly designed to store large volumes of data for a fraction of the cost.
According to Josh, a data chain allows consumers to store orders of magnitude more data while making it thousands or millions of times cheaper. However, Irys extends this framework by incorporating programmability, which means that recorded data is no longer a static commodity. Instead, it becomes an asset that can be actively used in smart contracts.
“Irys is essentially an integrated L1 where you can not just store data, but you can actually make use of that data within smart contracts,” Josh told us. “You can actually turn data from this very static commodity to this very useful asset.”
Empowering AI and Blockchain Developers
One of the biggest advantages of Irys is its appeal to AI and blockchain developers who require efficient and affordable data storage solutions. Josh pointed out that storing data on Irys is not only significantly cheaper than using blockchain networks like Ethereum and Solana, but it also undercuts the cost of traditional storage providers like AWS.
Beyond cost savings, Irys offers an immutable and verifiable data storage solution. This is particularly valuable for AI projects, where data integrity is crucial and where multiple parties need access to the same datasets. By storing data on-chain, Irys ensures that AI researchers, developers, and organizations can securely share and verify data without relying on centralized intermediaries.
“There are specific use cases where AI projects need to have the data be available to many, many parties. And the only way to do that is to essentially build the data on-chain,” he noted.
The Irys Testnet and Developer Involvement
Recently, Irys launched its alpha testnet, a crucial phase designed specifically for developers. The goal is to encourage builders to experiment with the platform, explore its capabilities, and start creating innovative applications.
Josh encouraged interested developers to visit Irys’ documentation or join their Discord community, where they can receive direct guidance. He also mentioned that Irys has already compiled 100 different ideas for applications that can be built on the chain, providing ample inspiration for those looking to get involved.
“In the next kind of month or so, we’re going to public testnet, where we can have people kind of running their own nodes, etc.,” he revealed. “And then we will be going to mainnet in the first half of this year. So we’ll be both launching the L1 and the token, and we’ll also have a bunch of people within our ecosystem going to mainnet as well.”
Irys’ Vision – The AWS of Web3
Irys is positioning itself as the AWS for Web3, offering a decentralized alternative to traditional cloud services. Josh envisions a future where Irys not only provides large-scale data storage but also introduces a permissionless ecosystem of services and utilities that developers and users can tap into.
For example, users will be able to store, sell, and monetize datasets directly on-chain, creating new revenue streams for AI companies, researchers, and data providers. Additionally, Irys aims to facilitate on-chain computation, allowing AI models to be trained and utilized in a decentralized manner.
“Irys will be the home for all of these different composable sets of utilities and services,” Josh explained, highlighting the broader vision of creating a scalable and decentralized infrastructure for Web3 and AI applications.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
