Irys operates through a dual-ledger system consisting of the Submit Ledger and Publish Ledger. Data is first temporarily stored and verified in the Submit Ledger, then permanently stored on the Publish Ledger. This process uses Ingress Proofs to ensure data integrity and trust.
In addition, IrysVM, an EVM-compatible execution layer, allows smart contracts to manipulate on-chain data in real-time—powering AI workflows, dynamic NFTs, and advanced dApps.
#IRYS

Irys’s low-cost permanent data storage and programmable data functionalities make it ideal for real-world applications, boosting potential demand for the token.
The node incentive structure also ensures data availability and integrity, which enhances the network’s reliability and contributes to token price stability.

Currently in its testnet phase, Irys encourages user participation through Irys Arcade, where players can earn testnet tokens. These activities are likely to serve as the basis for future airdrops or token distributions.
Notably, Irys plans to distribute $500,000 worth of tokens by March 2025 through its airdrop campaign—offering substantial rewards to early adopters.

Josh Benaron, the founder of Irys, has implemented a hybrid consensus model combining Proof-of-Work (PoW) and Proof-of-Stake (PoS) to strengthen decentralization and security.
Irys has also raised $8.9 million in funding, supporting development and expansion of the project.