Arweave: Blockchain Data Storage Protocol For Decentralized Internet?

What Is Arweave?

Arweave is a new blockchain protocol for data storage, based on a new consensus mechanism called proof of access, which enables the creation of permanent on-chain and scalable data storage on blockchain. The data is of low cost, high throughput, and free of censorship.

Arweave seeks to solve the problem of documents being altered during storage and forging of documents before they are stored in such a way that, once the storage of the documents is completed on the weave, it is linked cryptographically with all the other blocks found on the weave. This means that the network will detect and reject any alterations on the contents of the document.

How Arweave Blockchain Data Storage Protocol For Decentralized Internet Works

The platform is built with the help of four core technologies to achieve permanent storage. They include Blockweave, Proof of Access, wildfire and Block shadows.

Blockweave is a distributed new ledger with improved technology compared to other blockchain networks. The platform ensures there are no alterations with the data on the system, and ensures the data will be made available for a long time. Blockweave is useful and consumes low energy. There is a decrease in the amount of hashing needed for consensus with the increase for data stored on Arweave. This in turn reduces the cost of data storage.

Proof of Access algorithm allows the platform to avoid the negative effect of energy consumption and allow it to produce permanent on chain storage of data at a low cost.

Wildfire is a self-organizing decentralized algorithm that allows the arrangement of the network to autonomously adapt to the efficient routes of distributing information. This in turn reduces delays in the writing and recalling of data.

Block shadows are used by the platform to speed up the computation of transactions that are made on the system and improve efficiency. Block shadows allows weaves to reach speeds of even five thousand transactions in a second.

The platform's native tokens are referred to as the AR tokens. Users of the platform require the tokens as a payment for the storage of information on the system. The payments that the users of the platform make in form of tokens are then used as rewards to miners in the system who participates in the storing and maintaining of information.

Arweave Benefits

Simple Decentralized Application Development

The platform is generated to be very easily understood by developers. It has its own REST API that allows builders to build Arweave applications in any programming language they wish.

High Transaction Throughput

Block shadows makes transactions make on the system to be fast and efficient at the same time. This paves ways for more and more transactions to be done, thus leading to the improvement of the platform in general.

Self-Organizing Network

Through wildfire, the entire network self organizes itself since the structure of the network aligns automatically with the line of information distribution. Lags and delays are also eliminated on the system.

Arweave AR Token ICO Details

Parameters Of The ICO

  • Token symbol: AR
  • Token sale date: June 8 2018
  • Accepted payment method: ETH
  • Total token supply: 66,000,000
  • ICO: 8,700,000 USD

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