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Table Of Contents
Arweave (AR) operates as a next-gen decentralized storage network. The platform creates a secure and globally accessible permanent information storage network. The goal of the project is to create a more long-term version of the internet and reduce developer restrictions. Users and developers can archive sites and sources forever using the platform. As such, the network enables the creation of more productive and extensive applications.
What Problems Does Arweave (AR) Attempt to Fix?
There’s a multitude of problems that Arweave seeks to reduce or eliminate. For one, the redundant and decentralized nature of the network prevents data loss. Reports have shown that the internet is full of lost data due to all types of reasons. From hackers to user negligence, the current data storage methods are susceptible to loss over time.
Another way that users can find their information lost forever is through broken links. Surprisingly, around 30% of all web links are broken within the first two years. Form many of these websites, those links are the only way users can find the data. These sites are then cast off into the dark web. The dark web is all of the websites that are not on any search engines. Sadly, when these links are lost valuable data can be lost forever.
Storage limitations are another major concern that Arweave addresses. The technical structure of Arweave enables vertical scaling to meet the demands of the international community. Developers can leverage indefinite storage to create more interactive and robust platforms to service the community. Their creative minds can flow freely with limitless data options.
Arweave users remain safe from another problem plaguing the internet, censorship. Recently, censorship issues have become a major concern for users as the continued centralization of social networks and streaming services has created an approved narrative. If you have ideas that go against this grain, you can find your data removed and in some instances, lost forever.
The Arweave (AR) system operates as pure code with no centralized group to control, restrict, or revoke your data. The network was built to provide an open and free way for users to secure data internationally. You remain in control of your data when you use Arweave.
The developers behind Arweave took a keen focus on sustainability. Recently, cryptocurrencies have been put under the microscope due to their energy consumption requirements. Early cryptos, such as Bitcoin, can require more electricity than some countries to validate the network. Arweave introduces a proprietary consensus mechanism that eliminates these power-heavy systems and replaces them with more efficient options.
Benefits of Arweave (AR)
There are a lot of benefits that Arweave’s strategy brings to the market. For one, it’s among the first decentralized networks dedicated to permanent data hosting. The platform provides borderless access to the global market. Anyone, from anywhere, can leverage Arweave’s network to support their advanced creations.
Arweave (AR) Secure
Arweave integrates a variety of top-level security features. For example, the system integrates enterprise-grade encryption to keep your data safe. This data is not accessible by the nodes hosting the information. Impressively, even Arweave can’t view your data.
Additionally, there is no risk of loss because your data is hosted across multiple nodes simultaneously. If one goes down or is corrupted, the others can fill the void and keep your data accessible. In this way, Arweave users enjoy more security than its centralized competition can provide.
How Does Arweave (AR) Work
The Arweave network starts with the introduction of the permaweb concept. The permaweb is the name developers gave the permanent decentralized network created to host Dapps. Notably, the platform has a selection of user-driven applications and platforms that operate as profit-sharing communities.
The Ardrive protocol enables users to save their data to the permaweb. Users pay a one-time fee to save data using Ardrive. The fee depends on the amount of data you need to store. Uniquely, you don’t have to pay any subscription fees and your information is permanently stored forever.
The Blockweave concept is a derivative of blockchain technology. It operates in a similar manner in that nodes are connected and validate blocks of transactions. Blockweave is very scalable. It doesn’t require the entire network to validate. Instead, nodes use the Proof-of-Access consensus mechanism to validate sets of blocks. Instead of competing against each other, Arweave nodes validate transactions by linking to multiple previous blocks from the network.
Arweave (AR) Nodes
There are a few different node types in this network. There are nodes that earn rewards for renting out their hard drive space. There are also nodes that earn rewards to replicate valuable data. The final nodes validate blocks. Notably, all of these network participants receive rewards in the network’s utility token AR.
Arweave developers can find a ton of helpful information in the tools section. There are all types of resources to help you along your journey. Additionally, there are multiple interfaces that help streamline the development process considerably. Arweave supports Dapp developers both technically and financially. Users can submit their projects and if Arweave likes the concept, you are awarded funding.
The AR coin is the primary utility token for the network. AR serves a variety of roles in addition to user interactions including reward payments. This coin is required to share or save data on the network. Interestingly, the developers decided to place an issuance cap of 66,000,000 AR tokens.
History of Arweave (AR)
Arweave is a for-profit information technology firm headquartered out of London. The platform entered service on July 28, 2017. The project secured $525,000 to further operations during a pre-seed funding round conducted on July 13, 2021. Today, Arweave is one of the most recognizable decentralized data storage networks in the market.
How to Buy Arweave (AR)
Arweave (AR) is available on the following exchanges:
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Arweave (AR). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Arweave (AR) – Limitless Possibilities
Imagine just how amazing your next gaming experience would be if the developers had limitless storage capabilities. Now imagine those same capabilities helping you to keep all of your vital data safely stored for life. Both of these scenarios are possible using Arweave. For these reasons and more, Arweave is set to see continued adoption moving forward.
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