Beyond stoked to come out of stealth and reveal our largest announcement yet: The Irys L1 – The First Programmable Datachain
In 2019, I stumbled upon Arweave while in school. I was fascinated by its zero-to-one innovation of unlocking onchain permanent storage. I loved the simplicity of the model: pay once, store forever. Initially, I didn't dig too deep, but in 2020, a close friend urged me to take a closer look. The more I learned, the more intrigued I became. Eventually, AR became one of my first massive, high-conviction investments.
I believe the storage sector is one of the few areas within crypto with the potential to compound uninterruptedly. One of the core strengths of blockchains is their state—the more state a chain has, the more valuable it becomes; higher switching costs for developers, stronger network effects, and so on. It's one of the few themes you can go long on with a very long time horizon.
Irys initially started as a scaling solution for Arweave. We took it from processing 10,000 transactions per day to 15,000,000 per day, ultimately responsible for over 90% of all transactions and data uploaded to the chain. We've onboarded 300+ incredible partners and users, expanding its early use cases. Through this journey, we've learned a lot from both the successes and setbacks of these storage networks. We found that these networks aren't perfect, and there's much to iterate on.
To build on these learnings and unlock new potential, we decided to create the first programmable datachain. The Irys chain will be optimized for both storage and computation of data. We will enable scalable onchain and temporary data, all while having a native VM integrated in the base layer — the IrysVM.
I've been working in crypto full-time since 2017. My journey began with researching, trading, investing, and running mining hardware out of my college fraternity house. Since then, I've had the privilege of helping build and scale MoonPay in its earliest days, raising capital from astute institutional investors worldwide at Arca, building and launching a liquid fund at Social Capital, and now, working with an extremely talented team to build and launch a blockchain.
This is by far the most motivated I've ever been. We have an insanely large vision for what Irys will become, and I couldn't be more excited to execute this vision with a team full of savages who carry a chip on their shoulders.
LFB!
In 2019, I stumbled upon Arweave while in school. I was fascinated by its zero-to-one innovation of unlocking onchain permanent storage. I loved the simplicity of the model: pay once, store forever. Initially, I didn't dig too deep, but in 2020, a close friend urged me to take a closer look. The more I learned, the more intrigued I became. Eventually, AR became one of my first massive, high-conviction investments.
I believe the storage sector is one of the few areas within crypto with the potential to compound uninterruptedly. One of the core strengths of blockchains is their state—the more state a chain has, the more valuable it becomes; higher switching costs for developers, stronger network effects, and so on. It's one of the few themes you can go long on with a very long time horizon.
Irys initially started as a scaling solution for Arweave. We took it from processing 10,000 transactions per day to 15,000,000 per day, ultimately responsible for over 90% of all transactions and data uploaded to the chain. We've onboarded 300+ incredible partners and users, expanding its early use cases. Through this journey, we've learned a lot from both the successes and setbacks of these storage networks. We found that these networks aren't perfect, and there's much to iterate on.
To build on these learnings and unlock new potential, we decided to create the first programmable datachain. The Irys chain will be optimized for both storage and computation of data. We will enable scalable onchain and temporary data, all while having a native VM integrated in the base layer — the IrysVM.
I've been working in crypto full-time since 2017. My journey began with researching, trading, investing, and running mining hardware out of my college fraternity house. Since then, I've had the privilege of helping build and scale MoonPay in its earliest days, raising capital from astute institutional investors worldwide at Arca, building and launching a liquid fund at Social Capital, and now, working with an extremely talented team to build and launch a blockchain.
This is by far the most motivated I've ever been. We have an insanely large vision for what Irys will become, and I couldn't be more excited to execute this vision with a team full of savages who carry a chip on their shoulders.
LFB!
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