Buy Arweave (AR)

What is Arweave?

Arweave is a decentralised storage network designed to offer indefinite data storage solutions through a novel blockchain-like structure known as the blockweave. This structure allows Arweave to provide cost-efficient and scalable on-chain data storage.

How does Arweave work?

Arweave operates using its unique blockweave technology, which interlaces data blocks to enhance security and data access. Its consensus mechanism, called Proof of Access (PoA), ensures that miners must verify historical data before adding new blocks, thereby maintaining data integrity. Users pay a one-time fee in AR tokens for permanent data storage, and miners are incentivised through a mix of fees, block rewards, and a storage endowment to maintain the data network.

What are the potential use cases for Arweave?

Arweave serves diverse use cases:

1. Permanent Data Storage: Ideal for preserving important documents, developing web apps, and hosting decentralised applications.

2. Smart Contracts: Utilised by developers to build decentralised applications with unique functionalities that include secure data integration via oracles.

3. Digital Collectibles and NFTs: Supports the storage of non-fungible tokens, ensuring they remain accessible indefinitely.

4. Decentralised Content Hosting: The Permaweb allows for the hosting of web content that is both permanent and censorship-resistant.

5. Academic and Historical Record Storage: Suitable for archiving records to ensure accessibility for future generations.

What is the history of Arweave?

Arweave was founded in 2017 by Sam Williams, William Jones, and Ahmed Al-Balaghi. Initially named "Archain," it rebranded to "Arweave" in 2018. The network launched in June 2018, and since then, it has formed key partnerships with companies like Microsoft and IBM. Notable developments include the launch of the Permaweb and the integration of smart contracts. Arweave has also secured funding from significant investors such as Andreessen Horowitz. The network's technological progress is marked by innovations like its blockweave structure and increasing throughput capabilities with technologies such as Blockshadows and SPoRA. Arweave is now integrated with major platforms and projects, highlighting its expanding influence in the decentralised storage sector.