Programmable Data
Programmable data represents a significant leap forward in the functionality and potential of onchain applications. By integrating storage and execution, Irys unlocks a new paradigm where data can be actively used and manipulated in real-time by smart contracts.
State Storage Costs
Traditional smart contract chains face high costs primarily due to state storage. Solutions like Blob Storage, Compressed NFTs, and ZK Compression often require separate protocols, leading to complex hybrid architectures for data-intensive applications.
Consequences of an Integrated Solution
Irys integrates its storage and execution layers, allowing the Irys Virtual Machine (IrysVM) to directly access stored data. This integration maintains the security and consensus rules standard in blockchain smart contract execution. The ability to securely access onchain data during smart contract execution, which Irys terms "Programmable Data," is a feature for datachains that has never been achieved before. This approach enables developers to create more efficient, data-intensive decentralized applications within a single unified network.
Simplified Development
With Programmable Data, Irys integrates cost-effective data storage and smart-contract functionality, enabling dApps and services to interact programmatically with large amounts of onchain data within a single protocol and ecosystem. This streamlines development, lowers costs, and unlocks unprecedented composability, overcoming the limitations of fragmented integrations.
Expanded Possibilities
With programmable data, developers can create applications that respond to data changes instantly. This means that decentralized applications can perform complex operations directly on the data stored on the blockchain, enabling real-time updates and interactions that were previously unattainable. For instance, AI models can be trained and updated in real-time, financial contracts can settle instantly based on live data, and social networks can provide immediate feedback and content updates.
Programmable Data enables two key capabilities:
- Smart Contract Observation: Smart contracts can monitor and respond to users' onchain activity across the entire network.
- Onchain Data Validation: Smart contracts can read, verify and validate data posted to the blockchain.
These capabilities, combined with standard VM features such as tokenization, DeFi protocols, liquidity provision, and marketplace creation, enable the development of a new generation of fully decentralized applications and services.