Arweave is a new decentralized storage system that enables indefinite data storage to users and developers. It is a hard drive that keeps information of any type and can even host apps permanently. What makes this network unique is that it allows users to pass data between individuals and even to other generations.
This permanent archive aims to provide people with a platform where they can put together a collection and memorabilia or even journals about their life and also experiences that they can pass on to the next generations.
Making the Memory Hole Impossible
Arweave was brought about by Sam Williams and William Jones. The duo from the University of Kent envisioned defying the memory hole mechanism which, as popularized by George Orwell in his novel “1984”, can destroy the evidence of the past. Arweave is designed to immortalize and secure human knowledge in a place where a single point of vulnerability is impossible, eliminating censorship, reduction, and also loss of information.
The Arweave Blockweave
Unlike a typical blockchain that creates a chain-like connection between blocks, the protocol connects each block to two earlier blocks, making a woven-like structure. This modified version called “blockweave” uses a proof-of-access consensus algorithm which is an improved version of proof-of-work. In the Arweave environment, miners are not obligated to store an entire blockchain and they get rewarded for their storage.
The Arweave Token
The AR is the native digital currency that powers the Arweave network. In addition the cryptocurrency pays miners to store information in the network. As Arweave aims to develop a sustainable ecosystem within the network, it also launched its profit-sharing tokens that entitle its users to receive dividends every time a transaction fee is generated from their application.
The Arweave project also hosts incubators that back the development of permaweb-based systems. Furthermore, the project teams up with startups. Through its “Boost” program, startups can also enjoy access to investors and the Arweave team.
Credits: images come from: https://www.arweave.org/
