I don't dare to open the exchange in this market; I really have to MINT electric vehicles.

The Fear and Greed Index has dropped to 22, entering extreme fear soon.

Extreme fear usually leads to a rebound. Hang in there, and believe that the market will get better.

Continue sharing the third article of the "IRYS White Paper Detailed Explanation Series."

Let's briefly talk about the core innovation of @irys_xyz: IrysVM (EVM++) and programmable data.

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The positioning of IRYS is "programmable data chain", and its innovation lies in that, in addition to the most basic on-chain data storage, it also allows on-chain data to be directly called and calculated by programs.

The implementation of this key technology is IrysVM: an execution environment that surpasses the Ethereum Virtual Machine.

What is IrysVM?
In simple terms, IrysVM is an EVM++ virtual machine developed by the IRYS team, which not only supports the Ethereum ecosystem but has also undergone comprehensive optimization and upgrades:

※ It allows smart contracts to directly access on-chain stored data, not just the state variables within the contract.

※ It is important to know that in the past, public chains had very limited "states" for smart contracts and could not directly handle large data.

In IrysVM, developers can specify a data range, allowing the contract to directly read this data to execute logic.

For example:
An AI application can directly read 10 GB of training data in the contract and call model parameters for on-chain inference, and all processes are verifiable.

This represents that IRYS has achieved the blockchain capability of "data as computation input" for the first time.

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What is the programmable data of IRYS?

"Programmable Data" is the core innovation of IRYS, described in one sentence: it transforms on-chain data from "static files" into "dynamic assets."

Specifically, the smart contracts on IRYS can:

※ Read any data partition stored on IRYS;
※ Calculate, verify or process the data;
※ Generate new data assets (such as tokenized datasets);
※ Implement functions such as authorized access, royalty payment, and data trading.

The programmable features have directly made IRYS a true "data economy operating system" rather than just an ordinary data storage facility.

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What is the process for trading on IRYS to execution?
Programmable Data (PD) trading has an independent process mechanism in IRYS:

※ The user initiates a PD transaction: specifies the required data access range (such as partition number, offset, number of blocks to read);

※ Network verification and dissemination: Nodes validate data availability and broadcast transactions;

※ Miner Package Execution: Once confirmed, miners execute the corresponding smart contract logic in the block;

※ Contract call data: The PD pre-compiled contract will load the corresponding data block into the virtual machine environment;

※ Result on chain: The execution result is written into the state or generates a new data reference.

This mechanism effectively ensures the immediacy, traceability, and security of data operations.

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IrysVM's execution capability design: from Blob to Bundle
The white paper of IRYS proposes a three-phase programmable data evolution roadmap:

1⃣Blob Data (initial version)
Data is exposed to the contract in the form of byte blocks (blob), and the contract can parse it freely.

2⃣Bundle Format v1
Data blocks support packaging into structured "data packets", which can be directly read by contracts.

3⃣Bundle Format v2
Supports nested and Merkle verification, allowing loading only the necessary sub-data to improve efficiency.

This means that future IRYS applications will not only be able to operate on raw data but also build complex logic based on data structures, such as AI model calls, content indexing, or decentralized APIs, etc. The scenarios are very rich.

@cn_irys_xyz is becoming a new computing platform centered around data, and I am increasingly looking forward to the mainnet launch.