Arweave - The crypto version of AWS

Arweave (AR)

What is Arweave?

Arweave is a decentralized storage network that allows for long-term storage of data. It uses a modified version of the blockchain called blockweave and incentivizes individuals, called miners, to hold the data via their private servers or a pool of servers. Users of Arweave’s service pay a one-time fee for lifetime storage and that fee goes to the Arweave endowment and then is rewarded out over time to the individual miners that provide storage space.

Why does Arweave have value?

Unlike other decentralized storage projects, like Filecoin or Sia, Arweave focuses on long-term storage. The minimum amount of time for storing data in the network is 200 years, and the cost is really low. This ensures past information won’t get lost/erased, at least in the immediate term, allowing websites, media, content and apps greater longevity. Builders of apps want to make sure that their ‘cloud’ storage partners will be around as long as they are; and this is why Arweave has value.

What are the benefits of Arweave?

●       Decentralized and immutable way to store data.

●       The protocol encourages decentralization as 100’s to 1,000’s of miners provide the storage

●       Data is stored for at least 200 years.

What are the disadvantages of Arweave?

●       The storage market is widely dominated by centralized alternatives, even among crypto projects (think AWS).

Arweave’s Consensus:

Proof of Access.

What are AR’s tokenomics?

The maximum supply of AR is set at 66 million. 55 million were created when the mainnet launched. The remaining 11 million are produced gradually as block rewards. 19% of the initial 55 million were distributed in the token sales; 19.5% were sold in a private sale; 2.9% to project advisors; 13% to the development team; 19.1% for the ecosystem development; and the remaining 26.5% for future use.

Who founded Arweave?

Sam Williams and William Jones.

Who are Arweave’s investors?

Arweave has conducted 7 sales rounds, raising over $22 million. The main investors are Karnika Yashwant, FJ Syndicates, a16z crypto, Coinbase Ventures, Union Square Ventures, Andreessen Horowitz, and Multicoin Capital.

CONCISE CRYPTO GRADE:

A-

Where can I buy AR?

Binance, Huobi Global, Gate.io, Bittrex, Crypto.com Exchange.

What ecosystem does Arweave run on?

Arweave