IRYS Irys Rank #718 $0.0126 ▲ 1.04%

Irys is a Layer 1 datachain that combines onchain data storage and smart contract execution within a single network. It is designed to address a structural gap in existing blockchain architecture: conventional smart contract platforms are optimized for financial transactions but lack native primitives for handling large-scale data, while traditional storage-focused chains offer capacity but limited programmability. Irys integrates both functions by pairing its storage layer with IrysVM, a native EVM-compatible execution environment that makes stored data directly programmable by smart contracts. The network supports two storage models. Term storage allows users to pay for temporary retention over a chosen duration, while permanent storage requires a one-time payment for perpetual retention. Both options are priced at cost, supported by a multi-revenue model drawing on storage fees, execution fees, and programmable data transactions. Irys is engineered for instant data retrieval and horizontal scalability, expanding capacity by onboarding validators who demonstrate continuous maintenance of assigned data partitions. The native IRYS token is used to pay storage and execution fees across the network and to stake as part of validator operations.