Over-reliance on traditional information technology systems poses a major problem in terms of data security and availability, as centralized data infrastructures are vulnerable to various vulnerabilities and outages.

In this context, a project called Irys has launched a new layer-1 blockchain that offers software developers vertically integrated data storage solutions to build on-chain products.

Irys aims to provide software developers with immutable data storage for applications built on Ethereum, Ethereum Virtual Machine (EVM) compatible chains, Solana, Aptos, Avalanche and other networks. This can increase the reliability of decentralized applications (dApps), ensuring data security and integrity for developers.

Josh Benaron, founder and CEO of Irys, emphasized the importance of persistent data solutions in the age of Big Tech and centralized information technology.

“Data integrity should be based on technological guarantees — but it is not,” Benaron said. “Over-reliance on centralized data infrastructure creates major security risks, especially when digital bank accounts fail to withdraw funds or social media accounts are cleared of photos and messages,” he said.

This statement highlights why centralized data systems pose such a huge security risk and why more robust, decentralized solutions are needed.

Irys’s new protocol uses a double ledger system that stores data in a temporary ledger called the “submit ledger” until it is verified and then moves it to an immutable ledger called the “publish ledger.”

This system ensures data integrity by ensuring that data is recorded consistently in both ledgers.

Additionally, Irys uses a unique combination of proof-of-work and a staking function to incentivize miners to store data correctly. This incentive mechanism ensures that the system operates efficiently and reliably.

Traditional information technology services and cloud computing platforms are generally known as decentralized structures.

These centralized structures become vulnerable to high security risks and system outages due to their large amount of data processing and storage requirements.

According to data from Visual Capitalist, 30% of individuals using the internet interact with centralized cloud services providers such as Amazon Web Services (AWS) every day. These highly centralized systems pose major challenges in ensuring data security and maintaining service continuity.

The new blockchain solution offered by Irys aims to address these problems and ensure data storage is decentralized.

Storing data directly on the blockchain prevents data loss and ensures data integrity, which is a huge advantage for users and developers.

This approach from Irys aims to overcome the limitations of centralized information technology systems and provide more reliable, scalable data storage solutions.