Arweave is a decentralized storage network. What makes Arweave different from other projects? Learn more about AR Tokenomics!!!
In this article, we would like to introduce Arweave known as a decentralized storage network. We’ll be covering the following topics:
- What is Arweave? How does Arweave work?
- AR Tokenomics and How/Where to earn and store AR tokens?
- Roadmap & Updates.
- Team members, Investors, and Strategic Partners.
Let’s explore the potential of AR!
What is Arweave?
Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever for the very first time. This combination makes either public or private data permanent.
Arweave would describe itself as a “novel data storage blockchain protocol” enabling a permanent internet and creating truly permanent data storage for the first time. It is a pay-once-forever storage model.
How does Arweave work?
To fight against the direction in which the internet has been taken, Arweave developed the blockweave, a new data storage technology based on a blockchain-like structure.
Blockweave, a novel technology, is a blockchain with a twist. A blockchain is a database that employs ‘blocks’ to store data immutably, meaning the data does not or cannot change. Before any new information is added to this database, all existing information must be confirmed by a community.
This is a very secure method of ensuring that the information remains the same, but it is also quite time and energy expensive.
Arweave reinvented this procedure so that only a randomly chosen block needed to be confirmed, rather than the entire blockchain. Because the recall of the previous block creates a form of weave structure, Arweave refers to it as a blockweave rather than a blockchain.
The blockweave solved the problem of storing information in a secure location where it would not be modified and could be retrieved fast when needed.
But where would this data be kept, and how could it be guaranteed that it would be kept for extraordinarily long periods of time?
Arweave was now able to construct a distinct set of rules and incentives for the people who store the data and ensure that they did so for long periods of time, thanks to this twist on the technology that created the blockweave.
What is the AR token?
AR is the native utility token of Arweave.
Detailed information about AR token
AR Key Metrics
- Ticker: AR.
- Blockchain: Arweare.
- Consensus: Proof of Access.
- Smart Contract: Unknown.
- Token type: Utility Token.
- Total Supply: 66,000,000 AR.
- Circulating Supply: 50,108,502 AR (75.9% of the total supply).
AR Token Allocation
- Seed Sale: 9%.
- Private Sale: 13.42%.
- Public Sale: (ICO): 3.75%.
- Strategic Partners: 5.42%.
- Advisors: 2.42%.
- Team: 10.83%.
- Techstarts: 0.5%.
- Adoption Incentives: 15.92%.
- Project: 22.07%.
- Mining Rewards: 16.67%.
AR Token Release Schedule
At the network’s inception on June 8th, 2018, 55 million AR tokens were produced in the genesis block. As block mining incentives, an additional 11 million AR tokens will be gradually introduced into circulation.
AR Token Sales
AR Token Use Cases
- Transaction fees: On the Arweave network, all transaction fees must be paid in AR. This includes the costs of storing and retrieving data, as well as interacting with the network’s many DApps.
- Incentive mining tokens: Computers on the network that offer storage services must accept their incentives in AR tokens only.
How to get AR Token
You can get AR tokens by mining on Arweave.
How to buy AR Token
You can buy AR on listed exchanges such as Binance, MEXC, Gate.io,…
Besides that, Arweave’s integrations with fiat on-ramps Ramp and Transak made it possible for anyone in the world with a credit card to buy AR.
How to store AR Token
AR is currently only compatible with the Arweave web extension wallet. You can download it from Chrome, Firefox, or Brave.
In 2022, Arweave’s roadmap will be focused on developing a decentralized marketing infrastructure as well as creating a new, better web. Arweave.news now has a full-time team dedicated to creating engaging articles on the permaweb ecosystem. This provides further information about Arweave to the community.
Team, Investors, and Partners
Sam Williams is a co-founder and the Chief Executive Officer of Arweave. He specializes in decentralization, cryptocurrency, Erlang, and operating systems. Sam went to the University of Nottingham and graduated with a first-class honor in computer science between 2011 and 2014. He also attended the University of Kent for his Ph.D. degree in 2014.
In November 2019, Arweave secured $5 million in venture funding led by Andreessen Horowitz. The seed round was reportedly oversubscribed, with participation from Multicoin Capital, Union Square Ventures, 1kx, and Techstars.
In March 2020, Arweave raised $8.3 million in new funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures.
Arweave has already partnered with Solana, Cosmos, Polkadot, Avalanche, NEAR, and Skale.
Is Arweave (AR) a good investment?
Arweave is creating the permaweb, a critical piece of infrastructure in the Web3 stack. Many investors are interested in the term “Web3”, There has been a large number of investment funds pouring in recently. Arweave is one of the pioneers in this field.
Data, a critical component of advanced technologies is king in the 21st century. The Arweave protocol is a strong blockchain network that has the potential to change the way people save and manage data online.
As with any investment, it is important to do your own research and only invest money you can afford to lose. Evaluate whether you think the price can continue to increase. Make sure you understand the competition and actually play the game you’re considering investing your money in. Most importantly, don’t buy AR because you’re scared of missing out, or because you hope it will produce more short-term gains.
Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.
Filecoin (FIL): The Filecoin network is a peer-to-peer system for storing files on the internet with built-in incentives (IPFS) to ensure that data are stably stored over time.
BitTorrent (BTT): BitTorrent is a software that connects parties accessing its network to compute file sharing requests. It is a communication protocol for peer-to-peer file sharing (P2P), which enables users to distribute data and electronic files over the Internet in a decentralized manner.
So I have provided you with the latest information from Arweave and AR Token. If you’re interested in other projects besides Arweave, please leave a comment below. Coin98 will research the projects and publish articles about them.
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