In the realm of blockchain data storage and processing, issues have been persistent. For instance, on Ethereum, storing a few hundred KB of data can cost tens of thousands of dollars, and the data cannot be preserved long-term. Currently, there is no good solution. The project @irys_xyz, known as the 'cloud computing base' in Web3, addresses the data storage and processing issues in the blockchain field through an 'integrated data + execution' approach. Here are the key concepts and features of Irys: Core Concepts of Irys 🔸Integrated Data + Execution: Irys provides a built-in EVM-compatible execution environment, allowing data to be directly read, used, and combined on the same chain. This resolves cross-chain and offline operation issues, enhancing data composability and usability. 🔸Dual Ledger Architecture: Newly submitted data is quickly processed (Submit Ledger) and then permanently stored (Publish Ledger) upon verification. This architecture ensures both upload speed and data persistence. Advantages of Irys 🔹High Throughput: Attractive for DApps requiring high concurrency or frequent data. 🔹Decentralization: A decentralized environment reduces the risk of platform restrictions. 🔹Composability: Allows more data, protocols, and services to converge, leading to more innovative applications. Comparison with Traditional Cloud Computing Irys is likened to 'AWS on the chain,' but it does not directly compete with AWS. Instead, it offers an on-chain environment that operates without centralized access and based on cost. Compared to AWS, Irys focuses more on decentralization and composability, allowing various applications to combine freely. Just like AWS packages various general needs into cloud services, helping developers solve large-scale on-chain storage and computing issues in a one-stop manner, lowering the development threshold. Moreover, Irys recently launched data cloud storage on the testnet, requiring no subscription and ensuring complete privacy. Keep an eye on the team's progress in this area @trylofty Funding and Team Background Currently, there is a surge in demand for 'big data + blockchain' in the blockchain industry. Irys raised about $10 million in the seed round and is conducting Series A financing. Its investors include renowned VCs like Lemniscap, Primitive, and Framework. The Irys team successfully developed Bundlr, an L2 project of Arweave, which helped expand the transaction volume of the Arweave network. Finally, as an emerging project in the blockchain field, Irys is expected to solve the current on-chain data storage and processing challenges. Irys proposes the 'integrated data + execution' concept, featuring high throughput, efficient data storage, and convenient usage, regarded as 'AWS on the chain.' However, for Irys to truly become 'AWS on the chain,' it depends on the ecological implementation. @cn_irys_xyz