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London, United Kingdom, January 28th, 2025, Chainwire

Featuring a Native EVM Execution Layer and Infinite Data Capacity, Irys Testnet Clocks 100K TPS — 6,000x Faster Than Filecoin, 20x Cheaper Than Arweave

Today, Irys announced the testnet launch of its programmable datachain, the first layer-1 blockchain designed to integrate low-cost, scalable storage with EVM-compatible execution. With this launch, Irys aims to solve critical bottlenecks in AI.

Existing blockchains like Ethereum and Bitcoin are optimized for smart contract execution and payments but lack efficient, scalable storage solutions. Conversely, early datachains (blockchains optimized for storage) like Filecoin and Arweave lack integrated smart contract functionality, limiting their utility to basic storage solutions. As AI ecosystems grow, existing infrastructure needs more than these systems can offer in order to support the massive volumes of data required for decentralized AI agents, training datasets, and inference workflows.

"AI and blockchain are two sides of the same coin. AI can generate limitless digital content, but blockchain ensures that content is verifiable and scarce,” said Irys Founder and CEO Josh Benaron. “Irys is about so much more than just storage. It’s about using programmability to enable new use cases in AI. AI agents will be able to communicate, share memory, and break out of isolated silos. When agents can discover and learn from each other, they get exponentially smarter. And that’s just one of many applications."

"Congrats to Josh and the Irys team on launching their testnet. AI is evolving fast, and the infrastructure supporting it needs to evolve just as quickly. Irys is building exactly what’s needed—a blockchain designed to handle AI’s growing data demands," said Vance Spencer, Co-Founder of Framework Ventures. "We’re excited to back a team that’s tackling this challenge head-on and shaping the future at the intersection of AI and blockchain.”

Key Features of the Irys Datachain

Irys bridges the gap between storage and smart contract execution with a purpose-built architecture that integrates:

• Native Storage + Execution- A native EVM-compatible execution layer (IrysVM) that has access to a low-cost pathway to a storage layer with verifiable data, enabling programmable data—Irys’s flagship feature where users can embed logic (instructions) into verifiable data so that smart contracts can read and execute said logic.
• The IrysVM - As an upgrade to the EVM model, developers can use the same tools and workflows they already know from building on EVM chains. Programmable data opcodes require only a few lines of additional code.
• Store Data for Any Duration- Filecoin supports temporary storage, and Arweave supports permanent. Irys supports both with its multi-ledger system, with the flexibility to add new ledgers to meet developer demands as they arise.
• A Unique Hybrid Consensus Model - Irys combines useful Proof of Work with staking, aligning mining efforts with meaningful contributions to storing accessible, verifiable data on the network.

Key Testnet Metrics

• 100x Higher Throughput- Irys supports massively scalable transaction volumes with its integrated architecture, outperforming Filecoin and Arweave's single-layer storage systems
• 100x Lower Latency- Unlike Filecoin, where retrieving data can take days, Irys enables near-instant data access.
• 100,000 data transactions per second - 6,000x faster than Filecoin.
• Infinite storage capacity - 16x cheaper than Arweave, fixed pricing for storage.

It’s important to note that data on existing blockchains is in a static, read-only state, and Irys changes that by making data an active participant in driving network effects across data-heavy sectors beyond AI, including:

• DePIN (Decentralized Physical Infrastructure)
• DeFi and RWA
• Gaming, NFTs, and SocialFi

Ecosystem Partnerships

“Irys stands out for its potential to unlock new possibilities for blockchain development and drive value across the entire ecosystem,” said Smokey the Bera, Co-Founder of Berachain. “We support innovative projects that address real problems, and Irys does just that with its pioneering approach to programmable data. This is revolutionary for blockchain development across the spectrum.”

“We foresee a huge demand for Irys as the need for low-cost data storage and high-speed data processing onchain continues to grow,” said Dovey Wan, Founding Partner of Primitive Ventures. “The market potential for Irys is immense, and we are confident in Josh’s vision and the team’s ability to execute.”

Partners include Berachain, a16z, Eclipse, Injective Labs, Livepeer, Linea, and more. With the launch of testnet, the amount of projects building on Irys as a Layer-1 versus using Irys as a storage layer is projected to increase drastically.

Users can stay up-to-date with Irys news by visiting: https://irys.xyz/.

About Irys

Irys is the first programmable Layer-1 datachain, advancing beyond the existing Layer-1 model with a design purpose-built for AI. By combining a low-cost storage layer with a high-performance, EVM-compatible execution layer (IrysVM), Irys enables data programmability—something no other datachain has achieved. Built by the team behind Bundlr—responsible for scaling Arweave from 10k to 15M daily transactions and powering 98% of its activity. Irys has raised $8.9 million to date, with backing from Lemniscap, Framework Ventures, Primitive Ventures, and others

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