Arweave AR

1. Summary

Ranks

Liquidity

99

Developer

69

Social

60

Momentum (beta)

90

Stack Rank™

75

Price

$30.59 +0.7%

Market Cap

$2.00B (#43)

Supply

65.45M / 65.45M

Tags

Storage Layer 1 (L1) DePIN Coinbase Ventures Portfolio Multicoin Capital Portfolio Andreessen Horowitz (a16z) Portfolio

More Metrics

Price
52W High price	$48.04
52W High date	20th May 2024 (2 months ago)
All Time High (ATH) Date	5th Nov 2021 (2 years ago)
ATH Price	$89.24
% From ATH	-49.35%
All Time Low (ATL) Date	31st Jan 2020 (4 years ago)
ATL Price	$0.30
% From ATL	15028.16%

Supply & Trading Volume
Trading Volume (24h)	$42.08M
Total Supply	65.45M
Max Supply	66.00M
Circulating Supply	65.45M

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Description

Arweave: A Data Storage Blockchain and Protocol

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Arweave: A Data Storage Blockchain and Protocol

Overview

Arweave is a novel blockchain protocol designed to solve the millennia-old problem of decentralized data availability by creating truly permanent data storage. This pay-once-store-forever model ensures data permanence, making it censorship-free and affordable. Arweave achieves data impermanence by eradicating the need for recurring storage fees and centralized control over data.

Protocol Structure

The Arweave protocol consists of three primary components:

• Cryptographic Proofs of Storage: A succinct cryptographics proof system for ensuring accessible data replication.
• Storage Endowment: A predictable, self-executing endowment for paying for data storage with the help of deflationary technology advancements.
• Incentivized Evolution: A mechanism for protocol adaptability and rewarding non-coercive upgrades to the network.

Data Storage Mechanism

Arweave stores data on a blockchain-like structure called the blockweave. Each block in the blockweave links to two previous blocks: the immediately preceding block and a randomly selected block from the network’s history called the recall block. Miners must have access to this recall block to mine new blocks and earn rewards through the consensus mechanism called Succinct Proofs of Random Access (SPoRA). This incentivizes miners to store more data, increasing their chances of accessing the recall block and earning rewards.

Achieving Data Permanence

Charging a one-time fee in Arweave tokens for permanent storage, data permanence is ensured. The fee includes a portion used to cover storage costs for approximately 200 years. The remaining portion is held in an endowment, incentivizing miners to maintain data over long periods.

Permaweb and Decentralized Applications

The permaweb is a global, community-owned, accessible web that allows users to store data, including text, images, and entire websites. Decentralized applications like Ardrive and Evermore facilitate simple file storage by acting as a layer of abstraction. Websites and applications can be permanently stored and preserved even in the case of discontinuation or censorship.

Partnerships

Arweave has partnered with the Internet Archive to store website metadata obtained by the Wayback Machine on the Arweave network. This collaboration creates a tamper-proof record of the historical evolution of the web.

Token Economics

The Arweave token (AR) is used to incentivize miners to store data. Transaction fees in AR tokens are paid by users and miners who maintain the data. This ensures that fees are directly tied to data storage and maintenance without incurring additional costs for users.

Capabilities

• Permanent Data Storage: Cost-effective and scalable preservation of data and websites.
• Decentralized Architecture: Eliminates central control over data and ensures data is available and accessible to anyone.
• AR Token Economics: Ensures miners are incentivized to maintain data and prevents centralization.
• Open Ledger: Hosts a permanent and decentralized web.

Community and Adoption

The Arweave protocol is stable, mature, and widely adopted. It acts as a map pointing to places where users can learn, use and build on top of Arweave. The ecosystem is fully decentralized, and its capabilities are being explored by various developers and users.

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