Almost all Layer-1 claims to be a "high-performance, low-cost, and scalable" solution, but most are still optimized around general smart contracts or DeFi scenarios. When delving deeper into Irys, it was found to be somewhat different: it was designed for AI from the beginning, with the goal of treating "data" as the core asset of the blockchain. For today's era of AI explosion, this design makes me feel very forward thinking. 1. What is Irys? Irys @ irys_xyz is a Layer-1 data link positioned as an "AI native data infrastructure". The core of Irys' design lies in combining low-cost storage layers with high-performance, EVM compatible execution layers (IrysVM) to achieve what is known as' data programmability '. Simply put, in the past, on chain data was mostly "dead data" that could only be stored and could not directly interact flexibly with contract logic. What Irys wants to solve is to turn data into "programmable assets" that can be called, combined, and even directly drive the training and inference of AI models. From the white paper, Irys is not simply focusing on storage, but deeply binding the execution environment and data layer. It hopes to become the "data highway" for future AI applications, allowing models, data providers, developers, and users to interact efficiently in a unified on chain environment. 2. Project advantages and features I think Irys' advantages are mainly reflected in the following aspects: AI native design Unlike most chains later labeled as' AI ', Irys is built around AI in its architecture. It takes into account the stringent requirements of AI for data storage, access speed, and execution logic, integrating storage and computing into the same framework. Low cost storage layer Storing data on blockchain is usually expensive, and Irys has significantly reduced costs in this regard through optimization. For AI model training, this feature is crucial because without cheap storage, AI applications simply cannot run. IrysVM (EVM compatible execution layer) IrysVM is compatible with EVM, which means developers can directly migrate tools and applications from the Ethereum ecosystem. But it has also been extended in terms of execution logic, enabling it to be closely integrated with the data layer and supporting data-driven complex operations. This allows Irys to both take over the existing Web3 developer community and stand out in emerging AI application scenarios. Data programmability This is the part that interests me the most. Irys' philosophy is to make data not just an archive, but programmable and composable for use. In the future, it will become feasible for AI models to call on on chain data, perform automated training, verify data authenticity, and even build a data marketplace. 3. Financing Information The capital lineup behind Irys is very strong, and the financing pace is also quite representative: 2022-05-04: Financing of 5.2 million US dollars, with investors including Framework Ventures、Hypersphere Ventures、Permanent Ventures、OpenSea Ventures、Race Capital Meanwhile, there are also many individual investors involved, such as Viktor Bunin, Sriram Krishnan, and others. June 12, 2024: Strategic financing of $3.5 million, led by Lemniscap, Primitive Ventures, Framework Ventures, and others. August 21, 2024: Completed Series A financing of $10 million, with investors including CoinFund, Hypersphere Ventures, Amber Group, Varrock, and others. Three rounds of financing have accumulated over 18.7 million US dollars, with top tier venture capital, cryptocurrency native capital, and even the presence of trading platforms. This indicates that Irys' story not only moved institutions, but also had commercial imagination for practical scenarios. 4. Token Economics Although Irys has not yet fully disclosed the economic model of the token, it can be inferred from the design concept that the token will mainly undertake the following types of functions: Storage fee payment: Storing data on the chain requires payment of tokens, which is the core way for the network to maintain economic balance. Execution and computation costs: Contracts and data operations running on IrysVM also require token settlement. Governance and Incentives: Token holders can participate in governance, including rule making and protocol upgrades in the data market, while also serving as reward incentive nodes and developers. Access to AI services: In the future, the calling of AI models and the opening of inference APIs may require token settlement. This design essentially links tokens to "data circulation", allowing the value of tokens to increase with the frequency of data and AI application usage. 5. Future planning Irys' roadmap can be roughly divided into three steps: Infrastructure improvement: Continuously optimize the storage layer and IrysVM to ensure low cost and high performance. Ecological construction: Attract developers to build AI applications on the chain, such as data markets, AI training networks, AI driven dApps, etc. Large scale application landing: By collaborating with AI companies and data providers to form practical usage scenarios, the token economy can truly run. At present, they are already promoting pilot cooperation with AI developers, which is crucial for the ecological cold start. 6. Personal opinion From a personal perspective, I think Irys is a very interesting project. Its positioning is more specific than traditional "high TPS public chains", targeting the pain point of the combination of AI and blockchain - the storage and use of data. If AI does become the next super application scenario for Web3 in the future, then Irys, an infrastructure specifically designed for AI, has the opportunity to enter the incremental market. Of course, there are also many challenges: is the differentiation from decentralized storage such as Filecoin and Arweave clear enough? How to truly attract AI developers to conduct experiments on the chain? Can it meet the performance requirements of large-scale AI applications? These questions will be what Irys needs to answer in the next two to three years. But based on the current financing scale, technological vision, and team execution, I will include it in the list worth keeping an eye on. Irys is not just a trendy "AI+blockchain" gimmick, but a true rethinking of how to make data services AI from an architectural perspective. The combination of low-cost storage layer and EVM compatible execution layer has opened up a new path for it. With the support of capital and future plans, I believe Irys has the potential to become an important player in the AI native public chain race. If it can smoothly navigate the path of 'data programmability', it may truly become one of the infrastructure of the next era.