WTF are datachains and why do we need them?
Yesterday, I introduced @irys_xyz as the first programmable datachain. Now, let’s dive into datachains a bit more.
What is a datachain?
TL;DR; a datachain is a chain optimized for storing data
So, what does “optimized for storing data” mean?
This means that the chain must have its design tailored to storing data reliably i.e. providing cryptographic and/or economic guarantees for stored information. The reliability comes from consensus and economics.
The best datachains will use a combination of useful proof-of-work and staking in order to provide both the cheapest and most secure data. On the other hand, you’ll see more variability with economics but the rule of thumb is that there needs to be a portion of inflation and fees distributed to storage providers on the network.
Flavors of datachains.
We expect there to be several flavors of datachains (e.g. programmable, privacy-focused, permanent datachain etc.) to be built over time. One of the powerful properties of being a programmable datachain is that these flavors can be built as L2s on Irys. (more on this in a future tweet)
Okay, we understand datachains now, but why do we need datachains?
Simply put – the web is built on data rails, not financial rails. To date, the majority of crypto has focused on revolutionizing financial rails whether it’s through general-purpose smart contract chains or its surrounding infrastructure like bridges. When in reality, the web mostly depends on data rails and datachains act as the onchain foundation for these rails.
Datachains focus should be on incrementally bringing web services onchain over time.
If you wanna build on Irys – hit my DMs and let's get to work 🫡
Yesterday, I introduced @irys_xyz as the first programmable datachain. Now, let’s dive into datachains a bit more.
What is a datachain?
TL;DR; a datachain is a chain optimized for storing data
So, what does “optimized for storing data” mean?
This means that the chain must have its design tailored to storing data reliably i.e. providing cryptographic and/or economic guarantees for stored information. The reliability comes from consensus and economics.
The best datachains will use a combination of useful proof-of-work and staking in order to provide both the cheapest and most secure data. On the other hand, you’ll see more variability with economics but the rule of thumb is that there needs to be a portion of inflation and fees distributed to storage providers on the network.
Flavors of datachains.
We expect there to be several flavors of datachains (e.g. programmable, privacy-focused, permanent datachain etc.) to be built over time. One of the powerful properties of being a programmable datachain is that these flavors can be built as L2s on Irys. (more on this in a future tweet)
Okay, we understand datachains now, but why do we need datachains?
Simply put – the web is built on data rails, not financial rails. To date, the majority of crypto has focused on revolutionizing financial rails whether it’s through general-purpose smart contract chains or its surrounding infrastructure like bridges. When in reality, the web mostly depends on data rails and datachains act as the onchain foundation for these rails.
Datachains focus should be on incrementally bringing web services onchain over time.
If you wanna build on Irys – hit my DMs and let's get to work 🫡
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