A friend involved in DeFi complained: "On-chain fund management is quite convenient, but when it comes to data storage, it's like driving a sports car stuck on a dirt road; no matter how powerful it is, it can't go fast." Indeed, traditional chains excel at calculations but struggle with data storage. Arweave and Filecoin can store data, but they lack native logical support. @irys_xyz aims to combine these two aspects: Making data storage as simple as plugging in, while also incorporating logic that can be directly used by contracts. Truly achieving "data is intelligence," rather than just cold, hard files. 1/ Irys is not "just another storage chain." It integrates low-cost storage and verifiable execution on the same L1, allowing data to carry instructions and be directly called by contracts—this is what is known as a "Programmable Datachain." The testnet is already live. 2/ Why is it needed? Traditional public chains excel at computation but not at storage; Arweave and Filecoin excel at storage but lack native computation. AI and the data economy require "data + execution" to work in tandem; otherwise, it leads to high costs and delays when stitching together multiple systems. Irys attempts to resolve this contradiction in one go. 3/ IrysVM: EVM Fork + Native Data Instructions IrysVM directly connects the storage layer on top of EVM, allowing data to not only be "storable" but also programmable. Developers can embed logic within the data, which executes automatically when called by contracts. 4/ Multi-Ledger Design Irys separates writing and verification into different ledgers such as Submit and Publish. Data first enters Submit, and only after verification and replication checks does it advance to long-term verifiable Publish. This ensures both scalability and integrity with verifiability. 5/ Pricing Mechanism Irys emphasizes anchoring fees to real storage costs rather than fluctuations in the secondary token market. It also offers different "term ledgers," allowing developers to flexibly choose between permanent and short-term storage based on cost and performance. 6/ Cross-Chain Integration For example, with Linea: users can directly pay for Irys's permanent storage using ETH on Linea, with uploads under 100 KiB being free, and each upload generates a verifiable receipt. Contracts can call Irys data on Linea, which is highly valuable for NFTs, games, and cross-chain applications. 7/ User Participation The testnet provides a Faucet and Arcade interactive mini-games, with low barriers to entry, suitable for community participation and stress testing. Ordinary users can quickly experience it, while developers can test the entire process of uploading, calling, and cross-chain integration. 8/ Performance Metrics The official claim is that the testnet can achieve 100k TPS, with retrieval latency lower than similar storage chains, and at a lower cost. This represents a potential technological breakthrough, but it requires independent verification from the community and third parties. 9/ Funding and Endorsements @irys_xyz has completed approximately $20 million in funding, with investors including CoinFund, Framework, Lemniscap, OpenSea Ventures, and others. The funds will support ecosystem expansion and infrastructure before the mainnet launch. 10/ Origins and Evolution Irys was formerly Bundlr, which helped Arweave grow from 10,000 daily transactions to 15 million, almost supporting the entire Arweave ecosystem. In 2024, it was renamed Irys, and its positioning evolved from "upload tool" to an independent L1. 11/ Why is it worth paying attention to? Programmable data: Transforming data from static archives into executable assets, suitable for AI memory, copyright distribution, automated billing, and other scenarios. Multi-ledger and replication: Balancing high-frequency writing with long-term storage. Cross-chain integration: Deploying contracts on other chains to call Irys data, reducing development and operational costs. 12/ Comparative Perspective Compared to "EVM + IPFS/Arweave plugins": Irys avoids cross-system coupling, reducing complexity. Compared to "storage-only" chains: Irys makes data a "first-class citizen," capable of actively triggering logic. Of course, it still needs to be tested on the mainnet with real traffic, economic models, and decentralization. 13/ Future Outlook How will the mainnet token and economic incentives be designed? What new applications will arise from the combination of data chains with AI and DePIN? Can it truly replace the existing "compute-storage separation" model? 14/ In summary: If previous "on-chain data" was merely static archiving, then Irys aims to make data a programmable asset. If these promises can be validated on the mainnet, it could become a key infrastructure for AI × On-chain Data.