Arweave (AR) is a decentralized storage network that operates as a collectively owned hard drive, aptly named "the permaweb," aiming to create a permanent, decentralized web. More
| Fully Diluted Valuation | $411.47M |
|---|---|
| 24H Trading Volume | $29.44M |
| 24H Low / High | $6.06 / $ 6.31 |
| Circulating Supply | 65.45M |
| Total Supply | 65.45M |
| Max Supply | 66.00M |
| Categories | Storage 8 more |
|---|---|
| Founder | Sam Williams 1 more |
| Website | arweave.org |
| Socials | 4 more |
| Explorer | Viewblock |
| Name | Pair | OG Score |
|---|
Arweave (AR): Revolutionizing Decentralized Data Storage
Arweave (AR) is not just another cryptocurrency; it's a revolutionary decentralized storage network that envisions a future where data is stored indefinitely. Founded by Sam Williams and William Jones, Arweave operates as a collectively owned hard drive, aptly named "the permaweb," aiming to create a permanent, decentralized web hosting a plethora of community-driven applications.
The Arweave Network
Arweave's flagship permaweb is built upon the innovative "blockweave," a variation of blockchain technology. Unlike traditional blockchains, Arweave's blockweave is a graph of blocks, linking each block not only to the one prior but also to a random earlier block. This unique structure incentivizes miners to store more data, as they need access to random previous blocks to add new ones and earn rewards in the form of the native cryptocurrency, AR.
Key Features and Sustainability
Arweave focuses on building a sustainable ecosystem around its network. Introduced in June 2020, "profit sharing tokens" enable developers to receive dividends when network transaction fees are generated from their applications. Arweave actively supports the development of permaweb-based apps through incubators and its "Boost" program, providing free storage and access to the Arweave team.
Arweave's decentralized autonomous organization, established in January 2020, comprises core community members driving the network's development and expansion.
How Arweave Works
Arweave's protocol consists of two core components: the blockweave and a sustainable storage endowment. Miners replicate data using Succinct Proofs of Random Access, earning AR tokens for successful replication and block production. The permaweb, built on top of the Arweave network, stores data permanently, creating an accessible collection of "everything known to us."
Partnerships and Investments
Arweave has attracted significant attention and investments. In March 2020, it secured $8.3 million in funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures, following an earlier investment in November 2019. Notable partnerships include collaborations with Meta, Metaplex, Mirror, and Instagram. Arweave has also invested in various crypto projects, contributing to the growth of the broader blockchain ecosystem.
Arweave stands as a beacon in the realm of decentralized storage, offering a unique solution to the challenge of preserving and accessing data indefinitely. With a visionary approach, a robust community, and strategic partnerships, Arweave is poised to redefine the landscape of decentralized data storage, leaving a lasting imprint on the evolution of blockchain technology.
Arweave stands out with its innovative "blockweave" structure, a variation of blockchain, incentivizing indefinite data storage through a graph of interconnected blocks. It pioneers the creation of a decentralized, permanent web known as the permaweb, fostering community-driven applications and platforms.
Arweave was founded by Sam Williams and William Jones, both Ph.D. candidates at the University of Kent. While Williams, with experience in decentralized systems, took on the role of CEO, Jones contributed to the project's early development before completing his Ph.D.
Arweave has garnered support from prominent investors, including Andreessen Horowitz, Union Square Ventures, Coinbase Ventures, and Multicoin Capital. These backers showcase confidence in Arweave's vision of revolutionizing decentralized data storage.
Arweave employs an innovative mining mechanism based on Succinct Proofs of Random Access within its blockweave structure. Miners, or data storers, are rewarded in AR tokens for replicating data, with the amount stored influencing the likelihood of becoming the block producer in this decentralized network.
You can buy Arweave (AR) on Binance, BitgetMEXCBybitGate.io cryptocurrency exchanges.
Join
OGAudit
