IRYS-USD: Comprehensive Research Summary (as of 2026-08-19)

Overview

Irys (IRYS), formerly known as Bundlr Network, is a decentralized data storage and programmable data layer that evolved from an Arweave scaling solution into a self-standing Layer-1 "Programmable Data Layer" [9][10]. Its core thesis is that data should evolve from inert storage into a "verifiable, programmable, and revenue-generating asset," built on a multi-ledger stack, IrysVM, and a hybrid uPoW-plus-staking consensus that binds storage capacity to cryptographic proofs [9][10].

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