What is Arweave (AR)?
Arweave is a blockchain-based storage protocol. It leverages crypto technology and acts as a decentralized network on which users can store documents and applications securely and permanently. Arweave works by matching people with extra hard drive space with those who are looking to store data or host content on the network. Users can then access the documents and applications hosted on the Arweave network.
AR is Arweave’s native cryptocurrency. It has a maximum supply of 66,000,000 AR.
What are Arweave’s key features and how does it work?
In technical terms, the Arweave protocol consists of two core components. This is a blockchain-like structure known as a blockweave, and a sustainable storage endowment.
Arweave’s blockchain uses an innovative mining mechanism in order to secure its network. This process involves creating and testing Succinct Proofs of Random Access in each period of block production. Miners (data storers) need to replicate data in order to receive block rewards. Rewards are distributed in the form of AR tokens for successfully replicating data and producing blocks. The more data a miner stores, the more likely it is to be the block producer.
Additionally, on top of the Arweave network is the permaweb. It functions in a similar way to the traditional web. It comprises many interlinked protocols, including documents such as PDFs, videos, and applications. Data in the permaweb is stored forever. It is intended to be an accessible collection of “everything known to us”. Once a document is submitted to the permaweb it is unchangeable.
In order to combat abuse, the Arweave protocol’s active group developers and storers work to maintain the network. In this manner, the users themselves control the content and publish what they deem to be appropriate by filtering the applications and transactions against illicit material.
Applications can be built on top of the permaweb using tools created by the Arweave community. This includes UI hosting, database queries, and smart contracts for programming rewards.
Where can you buy AR?
AR is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, Gate.io, OKX, MEXC Global, and KuCoin. The price of AR will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for AR market prices, please view the price charts on this page.
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.To learn more about this project, check out our deep dive of Arweave.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 Arweave in February 2018 and officially launching in June 2018.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.Although Arweave was founded with centralized leadership, it launched a decentralized autonomous organization in January 2020 comprised of core community members to further the development and expansion of the network and its ecosystem.