Arweave - the future of data storage
Arweave is a new decentralized platform, created to allow permanent storage of information. According to the developers, the novelty will store data in an independent, inexpensive and protected from censorship ecosystem.
How does ARWEAVE operate?
Arweave uses "Blockweave" , a blockchain-like structure that enables onchain archiving to be scalable in a cost-effective manner. The amount of hash needed for consensus decreases as the amount of data stored on Arweave increases, reducing the cost of storing data. Through the Proof of Access mechanism, miners are encouraged to provide as many copies of the data stored in the system as possible.
Arweave proposes two solutions:
According to the creators, they want to make a decentralized platform with an honest, transparent ecosystem in which it will be possible to build trust between all participants. They know very well that now the data is not a cheap service, and not always the information is under guaranteed protection.
• A solution to permanently store any data in an unchanging manner, preventing
manipulation and theft.
• An ideal infrastructure layer for dapps where unnecessary data
changes (news pages, archives).
As a new protocol, Arweave will use the original AR token. The token AR is required to store information on Arweave. Payments made by users in AR are then distributed as rewards to operators who store and maintain information. The Arweave ICO team also has a local wallet to store AR tags.
Features of the project:
- The new decentralized Arweave platform is a productive and secure data warehouse that undergoes logging. The basis of the consensus mechanism is new evidence.
- Thanks to a special technology, increased transaction capacity is provided.
- Innovative block on a special mechanism of consensus allows you to reduce power consumption.
- The possibility of decentralized development of various applications. Participants will be able to create applications in a different language.
- Self-organizing network. In the ecosystem, a self-organizing work algorithm is built which automatically adapts to efficient routes.
Proof of Access is used as a proof. As for payment for publishing data in the blockchain, it is taken from internal tokens. To date, Testnet has already been developed, in the near future will open Mainnet.
Advantages of the project
The main advantages of the platform include:
• Decentralization, which ensures more effective and quality interaction of participants;
• a fair work algorithm that allows you to balance supply and demand;
• convenient and fast data exchange;
• an equitable remuneration system;
• ensuring transparent and honest relations between all participants;
• ensuring the protection and confidentiality of data storage;
• Significant cost reduction;
• Ability to create applications in any language;
• democratic governance;
• Simple interface, understandable even for beginners;
• Support on all devices.
Ico details
Project Name: Arweave
Token Code: AR
Hard Cap: $ 8,700,000 USD
Total token supply: 66,000,000 AR
Price: $ 0.74 USD
Distribution: 20.6% for ICO
Open whitelist registration / KYC: Closed on 25/5
Token Type: ERC-20
Restricted: USA, China, North Korea, Iran
Conclusion: Crypto expert positively speak about Arweave. Meanwhile, it is worth noting that the novelty has worthy competitors who also offer functional data storage, while guaranteeing 100% security. As for Arweave, the product needs to refine the security system. Nevertheless, the novelty can be considered for crypto-investments, since it has a sufficiently high potential and a small Hard Cap.
More information:
Website: https://www.arweave.org/
Telegram: https://t.me/arweave
Lightpaper: https://arweave.org/files/arweave-lightpaper.pdf
Medium: https://medium.com/@arweave
Twitter: http://twitter.com/ArweaveTeam
Youtube: https://www.youtube.com/channel/UCdM3INQ5NAsNjWU8-2y_xjw
Author: https://bitcointalk.org/index.php?action=profile;u=2076422