ARArweave (AR) Price

1. Project introduction

Arweave is a storage network that connects those with disk space to spare with those who need permanent data storage. This system offers unparalleled levels of data replication and security for users, as well as financial incentives for those storing data, without a middleman.

Through decentralization, Arweave offers a new standard of data archiving and storage: one in which information is globally replicated on hundreds of machines, impervious to fire, flood, or intentional damage.

The core technology that powers the Arweave is the blockweave. Just as a blockchain is a linked collection of blocks containing transactions, a blockweave -- specifically designed for the Arweave protocol -- is a set of blocks that contain data, linking to multiple previous blocks from the network. This data structure allows the network to an enforce that miners provide a ‘Proof of Access’ (PoA) to old data in order to add new blocks.

Unlike in a traditional blockchain, where miners are forced to expend electricity in order to earn tokens, in the Arweave network miners are also encouraged to replicate valuable data in order to gain tokens. This mechanism offsets the value that is normally wasted in blockchain networks, with useful, energy efficient storage of data.

The Arweave network uses a token called AR. It is used for encoding data into the system and of rewarding miners.

2. Team introduction

CEO: Sam Williams

Linkedin: https://www.linkedin.com/in/sam-williams-2b5111144/?originalSubdomain=de

3. Investment institution

Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures, etc