What is Arweave? Introduction to Arweave's issue price, total volume and white paper

Arweave's decentralized data storage network, utilizing its "blockweave" technology, offers immutable, censorship-resistant, and scalable file storage solutions.

Oct 26, 2024 at 05:58 am

What is Arweave?

Definition:
Arweave is a decentralized network designed for the permanent storage and retrieval of data. It uses a novel data storage mechanism called "blockweave" to create a scalable, secure, and censorship-resistant alternative to traditional file storage methods.
Key Features:
- Immutable Storage: Data stored on Arweave cannot be altered or removed once it has been verified and stored.
- Decentralized: The network is not controlled by a single entity and consists of a large number of nodes distributed across the globe.
- Pay-for-Storage Model: Users pay a one-time, perpetual fee for data storage, ensuring the long-term preservation of their files.
Issue Price and Total Volume:
- Initial Coin Offering (ICO) Price: $0.015
- Current Price (as of March 2023): $10.70
- Total Volume: Approximately 658 million AR tokens
White Paper:
Arweave's white paper, titled "Arweave: A Cooperative Storage Network for the Permanent Web", was published in April 2018. It describes the technical architecture, security mechanisms, and economic incentives that underpin the network.

Additional Information:

Arweave's primary use case is long-term data storage for applications such as archival, scientific records, and historical preservation.
The network uses a proof-of-access consensus mechanism to verify and store data, ensuring its integrity and durability.
Arweave has raised over $200 million in funding from investors such as Coinbase Ventures and Andreessen Horowitz.
The project is open-source and has a dedicated community of developers and users who contribute to its growth and maintenance.

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