Arweave - the future of data storage

longnam (32)in #cryptocurrency • 6 years ago

You must have known about many data storage project before. Some famous name such as Storj (a decentralized cloud storage), MaidSafe ( a decentralized Internet) or a blockchain-based storage network and cryptocurrency - Filecoin and so on. However, I want to recommend one more data storage project to you today. Despite of existing projects, It has its own great strengths that are worth considering. The project named Arweave.

Arweave provides a new protocol for data storage on the blockchain platform. Arweave is based on the new mechanism, Proof of Access, which is designed to facilitate permanent, low cost onchain storage. The aspiring project becomes an indispensable storage layer that can be leveraged to provide speed and scalability to other systems.

Arweave is built on four core technologies that work together to create low cost, highthroughput, permanent storage on a new blockchain. These innovations are:

• Blockweave

• Proof of Access

• Wildfire

• Blockshadows

While these technologies are intertwined, each plays a pivotal role in creating a new type of network suited for both fast transactions and low cost permanent storage. Arweave offers two solutions. The first is a solution to permanently store any data in an unchanging manner, preventing manipulation and theft. The second is an ideal infrastructure layer for dPps that does not need to change data.

As a new protocol, Arweave will use the original AR token code. 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 Group also offers a local wallet for storing an Arab card.

Arweave has two major advantages in technology: 5k TPS throughput for better network scalability and a one-time payment structure that bypasses the monthly payment model of other storage protocols. These features may prove more attractive to consumers and developers.

Arweave development team and advantages from partnerships

The Co-Founder & CEO of Arweave is Sam Williams. In spite of being young, Sam is a PhD candidate in computer science at Nottingham University. His research is focus on designing decentralized systems. With his education background, Arweave is Sam's first breakthrough into the world of start-up projects.

William Jones, Co-Founder & CTO, is also a PhD candidate in computer science at Nottingham University. His research focuses on the development of cognitive and neural networks.

India Raybould (CCO) has the experience of studying and working in the field of psychology. She used to be a psychic counselor before joining Arweave as the co-ordinator.

One of advisors is Anthony Ryan. He is Head of Growth at Quantstamp and has a strong background in the business.

For a team without much previous business experiences, Arweave has established valuable partnerships that play an important role in supporting the project.

Arweave is working with Shelf.Network Distributors to provide storage for them. Shelf.Network uses blockchain to post a list on many online markets. The Blockweave data structure will be used to store the auction list, while references to the data stored by Arweave are recorded to the original Shelf.Network string.

Another important partnership of Arweave is Charité, the largest clinic university in Europe. Charité and Arweave are collaborating to create the Journal of Raw Data, a peer-reviewed online open-access biology journal. Arweave will provide storage solutions so that data sets from biomedical research submitted to the journal will be publicly available, unchangeable.

One of the most popular technological Startup Accelerators, Techstar, has selected Arweave for its 2018 acceleration program. While not typically known for accelerating blockchain companies, Techstars Berlin welcomed the Arweave project from the UK into their esteemed mentorship program. Arweave had many benefits from the tremendous success of its program, through in-depth mentoring and exposure to industry leaders. Uber and Digital Ocean are two successful of many projects that Techstar has accelerated.

“The Techstars programme and mentorship has been fantastic, and the companies and individuals we have met are truly inspirational” — said Sam Williams, CEO of Arweave.

Conclusion

Arweave has to face with many strong competitors in the field of data storage. However, it also has many advantages to be a potential project competing with orther competitors. As I mentioned above, Arweave has highlights in ist technology; developed by a strong team with many enthusiastic people; accelerated by Techstar, a famous Startup Accelerators that is the father of Uber and Digital Ocean. Therefore, Arweave completely can dream of a successful future with an strong growth.

But at the moment, from my point of view, It is better for investors to invest in short - term. There is still a long way to go when it comes to building and expanding the ecosystem around Arweave. There are not many track records to assess the team's long-term ability, so there are still many questions about what they will demonstrate in the next phase of project's development. But a long-term investment isnot also a wrong decision. It's up to how much potentiality you see in this project.