Arweave (COIN: $AR) is a layer-1 blockchain network built for permanent data storage. The project’s creators view it as an essential platform to preserve humanity’s most important information.
Arweave will also be significant in creating truly decentralized and provably neutral Web3 applications. The protocol is fully decentralized, stable, and mature; it has been widely adopted by crypto enthusiasts.
How Arweave Works
Arweave is acclaimed to be the world’s first protocol to support permanent data storage. It is open to anyone who wants to support data permanently with a single, one-time fee. The network is secured using a decentralized miners network that stores and replicates data. For their effort, they are rewarded in $AR, the network’s native token. $AR tokens are funded via Arweave protocol’s sustainable endowment program, ensuring data is always available and secure using a transparent, immutable risk model.
ARweave’s Permaweb
The Permaweb is a permanent web built on top of Arweave. It comprises modular and interchangeable protocols that facilitate decentralized data storage. The permaweb is designed to solve a critical flow in the existing World Wide Web; it has no memory.
When a document is removed from a server, it is forever lost from the knowledge base. Applications once hosted in this ecosystem can no longer be accessed when their creators stop supporting or remove them.
Permaweb is the next stage in the evolution of the internet; it will allow developers and users to share an undeletable knowledge base that is replicated globally. The web, whose base protocol is Arweave, is powered by two main components: a scalable blockchain-based structure and a sustainable endowment to ensure data permanence. On top of Arweave, a decentralized network of gateway servers has been created to make the data accessible by browsers without requiring specialized software.
Besides hosting static files, Permaweb can host decentralized applications. The applications live independently on the Permaweb, and are governed by their own code. Once launched, the app cannot be modified and is accessible to everyone. As a result, they require zero upkeep costs by their creators.
Profit Sharing Communities
Profit sharing communities are a new, fairer structure for web startups made possible by the unique affordances of the Arweave protocol. These communities give founders more control and flexibility over their projects, while granting contributors to those projects more power.
Profit Sharing Communities: A Deep Dive by Arweave, CoinMarketCap
These decentralized governance structures can be deployed to the decentralized app. They are used to determine how proceeds are distributed in real-time. The governance structure can be used to determine content moderation issues, application upgrades, and featured content.
$AR Token Details
The maximum token supply of $AR tokens will be 66 million. Their main unit is $AR, with the sub-unit Winston where 1 AR = 1,000,000,000,000 Winstons. $AR tokens act as utility tokens; they are used to pay the network fee and reward miners.
$AR Token Performance
Shortly after it’s launch, the $AR token hit an all-time low (ATL) price on May 27, 2020, when it dipped to just $0.4854. In contrast, $AR achieved it’s all-time high (ATH) price on November 5, 2021, when the token briefly touched $90.04. If you had bought the tokens at the lowest price, then you would have seen gains of +18,449.65%.
At the current price of $3.97 as of September 12, 2023, $AR tokens represent a -95.55% discount on the ATH price. Their 24-hour trading volume remains relatively high at $6,452,382, with a market cap of $260,029,166. This makes the $AR token the #100 most valuable cryptocurrency by market cap on CoinMarketCap.
Most of the 24-hour trading actvity is on Binance, Huobi, and OKX, which account for over $2.8 million of the volume.
[Click The $AR Chart Above To View On CoinMarketCap]
Social Media
Arweave has a rapidly growing social community with 84.8K followers on Twitter, 2,086 members on Telegram, 14,200 members on Discord, and 5.4k members on Reddit.
All Things Considered
The Arweave value proposition is based on solid facts, and as more people learn about it, the network’s size will grow. Thus far, 1,192,610,414 transactions have been conducted on the network, according to ViewBlock. The numbers the network has posted thus far bode well for the future of $AR tokens.
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