Arweave (AR)
Arweave (AR) is a decentralized storage network that aims to provide a permanent and censorship-resistant platform for storing data. It is built on a novel blockchain-like technology called "blockweave," which is designed to ensure that data stored on the network can never be lost or deleted. Arweave uses a native cryptocurrency, AR, to incentivize users to store data on the network.
Who Are the Founders of Arweave?
Arweave was founded in 2017 by Sam Williams and William Jones.
Sam Williams is the co-founder and CEO of Arweave. He is a computer scientist with a background in distributed systems and blockchain technology. Williams is passionate about using technology to create a more open and transparent internet.
William Jones is the co-founder and CTO of Arweave. He is a software engineer with a background in data storage and security. Jones is responsible for the development of Arweave's blockweave technology.
Williams and Jones have a strong track record of success in the technology industry. They are both highly respected in the blockchain and cryptocurrency communities. Under their leadership, Arweave has become a leading provider of decentralized storage solutions.
What Makes Arweave Unique?
Arweave stands out from other decentralized storage networks in several key ways:
- Permanent Storage: Arweave offers truly permanent storage, meaning that data stored on the network is guaranteed to remain accessible indefinitely. This is achieved through a unique mechanism called "blockweave," which ensures that data blocks are linked together in a way that makes them tamper-proof and resistant to data loss.
- One-Time Upfront Payment: Unlike other decentralized storage solutions that require recurring fees or subscription payments, Arweave charges a one-time fee for data storage. This makes Arweave a more cost-effective solution for long-term data storage needs.
- Community-Owned Network: Arweave is a community-owned and operated network, driven by the contributions of its users and developers. This decentralized approach fosters a sense of ownership and ensures that the network is aligned with the interests of its users.
- Wildfire Mechanism: Arweave employs a self-organizing algorithm called "Wildfire" to incentivize network participation and ensure efficient data distribution. Wildfire rewards users for storing data and participating in the network's maintenance tasks.
- Permaweb: Arweave envisions the creation of a "Permaweb," a permanent and censorship-resistant version of the internet where data is stored and accessed in a decentralized manner. Arweave's technology serves as the foundation for this ambitious vision.
Overall, Arweave's unique combination of permanent storage, one-time payment model, community ownership, Wildfire mechanism, and Permaweb aspiration sets it apart from other decentralized storage networks and positions it as a promising solution for preserving and accessing valuable data in a secure, censorship-resistant, and permanent manner.
How Many Arweave (AR) Coins Are There in Circulation?
According to CoinMarketCap, as of today, November 19, 2023, there are 65,454,185 AR coins in circulation. The maximum supply of AR coins is 66,000,000. This means that there are still 545,815 AR coins that have not yet been released into circulation. The remaining AR coins will be released gradually as block rewards.
How Is the Arweave Network Secured?
The Arweave network is secured through a combination of technological and economic mechanisms.
Technological Mechanisms
- Blockweave: Arweave's underlying technology, blockweave, is a novel blockchain-like structure that ensures the permanence and immutability of data stored on the network. Data blocks are linked together in a way that makes them tamper-proof and resistant to data loss.
- Proof of Access Consensus: Arweave uses a consensus mechanism called Proof of Access (PoA) to verify the integrity of new data blocks. PoA requires nodes to prove that they have access to a randomly selected piece of data from an earlier block before they can add a new block to the chain. This mechanism ensures that malicious actors cannot add fraudulent data to the network.
- Endowment Model: Arweave employs an endowment model to finance its long-term operation and security. A portion of the AR cryptocurrency is set aside to fund network maintenance, development, and security initiatives. This ensures that the network has the resources necessary to remain secure and operational in perpetuity.
Economic Mechanisms
- Proof of Access Rewards: Users who participate in the PoA consensus mechanism are rewarded with AR tokens. This incentivizes users to contribute to the network's security and stability.
- Wildfire Mechanism: Arweave's Wildfire mechanism incentivizes nodes to store and share data efficiently. Wildfire rewards nodes for providing data to other nodes quickly and reliably. This mechanism ensures that data is distributed evenly across the network and readily accessible to all users.
- Community Ownership: Arweave is a community-owned network, with significant decision-making power vested in its users. This decentralized governance structure helps to align the network's development and security priorities with the interests of its stakeholders.
In combination, these technological and economic mechanisms provide a robust foundation for the security and integrity of the Arweave network. The network is designed to be resilient against malicious attacks, data loss, and censorship, making it a reliable platform for storing and accessing valuable data in a secure and permanent manner.
Where Can You Buy Arweave (AR)?
- Binance: Binance is one of the largest and most popular cryptocurrency exchanges in the world. It offers a wide variety of cryptocurrency trading pairs, including AR/USDT, AR/BTC, and AR/ETH.
- KuCoin: KuCoin is another popular cryptocurrency exchange that offers AR trading. It is known for its low fees and wide range of supported cryptocurrencies.
- Huobi Global: Huobi Global is a global cryptocurrency exchange that offers AR trading. It is a popular choice for users in China and other Asian countries.
- MXC.COM: MXC.COM is a cryptocurrency exchange that offers AR trading. It is known for its high liquidity and strong security features.
- Bilaxy: Bilaxy is a cryptocurrency exchange that offers AR trading. It is a popular choice for traders who want to access a wider variety of altcoins