What Is Arweave?
Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralized web with a number of community-driven applications and platforms. The Arweave network uses a native cryptocurrency, AR, to pay “miners” to indefinitely store the network’s information. The project was first announced as Archain in August 2017, later rebranding to in February 2018 and officially launching in June 2018.
Arweave Storage Key Points
|Circulating Supply||33,394,701.00 AR|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Arweave makes information permanence sustainable.
Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever – for the very first time. As a collectively owned hard drive that never forgets, Arweave allows us to remember and preserve valuable information, apps, and history indefinitely. By preserving history, it prevents others from rewriting it.
Welcome to the Permaweb.
On top of the Arweave network lives the permaweb: a global, community-owned web that anyone can contribute to or get paid to maintain. The permaweb looks just like the normal web, but all of its content – from images to full web apps – is permanent, retrieved quickly, and decentralized – forever. Just as the first web connected people over vast distances, the permaweb connects people over extremely long periods of time. No more 404s. No more stealth edits. No more web apps that decline in quality.
Arweave is community owned and operated
The is built and run by people like you. Have an amazing idea for an the application? We’ll pay you to build it. Have extra storage space? The network will pay you to rent it.
Who Are the Founders of Arweave?
Arweave was founded by Sam Williams and William Jones, two Ph.D. candidates at the University of Kent. Williams came to the project with experience in decentralized and distributed systems, having developed an operating system called HydrOS as a part of his studies, while Jones’ focus was on graph theory and neural networking. While Williams dropped out of graduate school to focus on the company, Jones left the project early on in mid-2018 and completed his Ph.D.
According to Williams, he came up with the idea while walking up a mountain in Scotland, later bringing the concept to Jones, with whom he developed the technical details. After launching Arweave, Williams was later named an advisor to Minespider, a company providing blockchain-based supply chain tracking for the raw materials industry, and he has served as a mentor for the Techstars accelerator program.
What Makes Arweave Unique?
According to its yellow paper, Arweave seeks to make certain the “collective capacity to save and percentage records among people and throughout time to new generations.” In order to perform this goal, its flagship permaweb is constructed on pinnacle of “blockweave,” a version of blockchain era wherein every block is related to each the only without delay previous and additionally a random in advance one.
The says this incentivizes miners to save greater statistics due to the fact they want with a purpose to get right of entry to random preceding blocks to feature new ones and obtain rewards. Arweave is targeted on constructing a sustainable atmosphere across the community. In June 2020, it unveiled “income sharing tokens,” which permit builders to obtain dividends while community transaction costs are generated from their application, and it hosts incubators to assist the constructing of permaweb-primarily based totally apps.
The venture additionally works with startups thru its “Boost” program, imparting loose garage and get right of entry to to the Arweave crew and enterprise investors. In March 2020, Arweave introduced that it had received $8.three million in investment from Andreessen Horowitz, Union Square Ventures and Coinbase Ventures. This observed an in advance November 2019 funding additionally from Andreessen Horowitz and Union Square Ventures, in addition to Multicoin Capital.
How Is the Arweave Network Secured?
The Arweave network is built on a modified version of blockchain technology it calls “blockweave,” which uses a “proof-of-access” consensus algorithm — a modified version of proof-of-work. With PoA, each new block is not only linked to the one immediately prior to it but to a random previous block as well, and both blocks are hashed to generate the new one. Miners are not required to store an entire blockchain, but they are incentivized to store more information to prove they can access the old blocks that are required to mine a new one.
The mining protocol used by Arweave, RandomX, was successfully audited by four cybersecurity firms — Trail of Bits, Kudelski Security, X41 D-Sec and QuarksLab — in August 2019. The project plans to utilize a new mining algorithm starting in early 2021 known as SPoRA, which it said in December 2020 had been audited by NCC Group.
Where Can You Buy Arweave (AR)?
AR can be purchased on cryptocurrency exchanges such as MXC.COM, Bilaxy, Huobi Global, and Hoo, among others. It can be traded against the stablecoin Tether (USDT) as well as Bitcoin (BTC) and Ether (ETH). Are you interested in buying AR or other cryptocurrencies such as Bitcoin? CoinMarketCap has a simple, step-by-step guide to teach you all about crypto and how to buy your first coins.