There have always been problems in blockchain data storage and processing. Like Ethereum, the cost of storing hundreds of kilobytes of data is as high as tens of thousands of dollars, and the data cannot be stored for a long time, and there is no good solution at present. The project, known as the "cloud computing foundation" in Web3@irys_xyz solves the problem of data storage and processing in the blockchain field through the idea of "data + execution integration". Here are the key concepts and features of Irys: The core philosophy of Irys 🔸 Data + Execution Integration: Irys provides a built-in EVM-compatible execution environment that allows data to be read, used, and combined directly on the same chain. This solves the problem of cross-chain and offline operations, improving the composability and usability of data. 🔸 Dual-ledger architecture: Newly submitted data is processed quickly (Submit Ledger) and then goes into permanent storage (Publish Ledger) after validation. This architecture guarantees both upload speed and data durability. The Irys Advantage 🔹 High throughput: Attractive for DApps that require high concurrency or frequent data. 🔹 Decentralization: A decentralized environment reduces the risk of being restricted by the platform. 🔹 Composability: Allows more data, protocols, and services to come together to create more innovative applications. Comparison with traditional cloud computing Irys has been likened to "on-chain AWS," but instead of competing directly with AWS, it provides an on-chain environment that doesn't rely on centralized access and runs at cost. Compared to AWS, Irys is more focused on decentralization and composability, allowing a variety of applications to be freely combined. Just like AWS, which packages various general requirements into cloud services, helps developers solve large-scale on-chain storage and computing problems in one stop and lowers the development threshold. And Irys recently put data cloud storage on the testnet, no subscription, complete privacy. Follow-up attention to the team's progress in this area @trylofty Financing and team background At a time when the demand for "big data + blockchain" in the blockchain industry is huge, Irys raised about $10 million in a seed round and is in the process of raising Series A funding. Its investors include well-known VCs such as Lemniscap, Primitive, and Framework. Irys' team has successfully developed Bundlr, Arweave's L2 project that has helped the Arweave network scale transaction volumes. Finally, Irys, as an emerging project in the blockchain space, is expected to solve the current on-chain data storage and processing challenges. Irys proposes the concept of "data + execution integration", with high throughput, efficient storage and convenient use of data, and is regarded as "AWS on the chain", but if Irys wants to become a real "AWS on the chain", it depends on the ecological landing. @cn_irys_xyz