Irys Introduction
Irys is a programmable Layer-1 data chain that goes beyond the existing Layer-1 models with a design specifically built for AI. By combining a low-cost storage layer with a high-performance, EVM-compatible execution layer (IrysVM), Irys achieves data programmability.
Irys Core Team
Founded in 2021, Irys was originally known as Bundlr Network during the Arweave era and is a leading project in the Arweave ecosystem. The core members are as follows:
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Josh Benaron
Josh Benaron is the founder and CEO of Irys. He graduated from the University of Surrey in the UK. -
Connor King
Connor King is the BD Director at Irys. Previously, he was a portfolio manager at Social Capital and the Director of Business Development at Arca. He graduated from Ohio Wesleyan University.
Irys Funding
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On May 4th, 2022, Irys completed a $5.2 million funding round, with participation from Framework Ventures, Hypersphere Ventures, Permanent Ventures, OpenSea Ventures, Race Capital, Double Down, Viktor Bunin, and David Phelps.
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On June 12th, 2024, Irys completed a $3.5 million strategic funding round, with participation from Lemniscap, Primitive Ventures, Framework Ventures, Hypersphere Ventures, Permanent Ventures, and others.
Irys Project Highlights
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Free Initial Storage and Flexible Scalability
Users receive 10GB of basic storage space for free, with the option to expand on-demand through USDC, breaking the traditional fixed-model of centralized storage and creating an “on-demand pay” economic model. -
Decentralization and Data Security
Built on blockchain technology, data is stored across global nodes with private algorithms and consensus mechanisms ensuring data immutability and high privacy. Compared to traditional cloud storage, it reduces risks and enhances data security. -
Seamless Integration and Ease of Use
Users only need to connect a wallet to use the platform, with no complicated processes. It supports mainstream blockchain wallets, reducing technical barriers, making it easy for both individual users and developers to integrate quickly. -
Economic Incentives and Ecosystem Expansion
In the future, a storage node contribution reward mechanism may be introduced to incentivize users to share idle storage resources, forming a decentralized storage network ecosystem and promoting community co-building.
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Conclusion
Irys emphasizes “data + execution integration.” It is not just a “storage network” but also integrates an EVM-compatible execution environment, allowing data to be directly read, used, and combined on the same chain, eliminating the need for additional cross-chain or offline operations. Whether Irys can truly become a “blockchain-based AWS” will depend on ecosystem adoption—only when enough projects and protocols are willing to onboard Irys will its composability power be fully realized.
