Dear @irys_xyz Irys is a decentralized data storage platform that recently announced it has secured $10 million in Series A funding, which has given me a new understanding of the application of blockchain technology in data storage. Early projects like Filecoin and Arweave actually use a decentralized "data chain" for storage. While this sounds cool, the reality is that decentralized storage is not without its problems. Current blockchain applications basically have two choices: either store data on platforms like Ethereum, which is prohibitively expensive; or choose some cheap but opaque "data blocks," the downside of which is that the data cannot be read or modified, limiting the flexibility of applications. The emergence of Irys is precisely to fill the gap between these two options. As a programming-level L1 data chain, Irys not only allows developers to store data but also to perform computational operations, reading and modifying data directly on the chain. Now, let's talk...
We’re thrilled to announce we’ve led @irys_xyz's $10M Series A funding round!
Here’s why we’re excited to back the team that’s building a programmable datachain for decentralized storage at a low cost 🧵
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