ARWEAVE ignoring AR?

Okay that is probably a failed attempt at a wordplay. Yes, I am going to talk about **[Arweave]( (Token: AR)

*Disclaimer: Yes, of course I own a small bag of AR. Why would I spend hours researching this project if I wasn’t going to buy some?

##What is Arweave?

Arweave is a “novel data storage protocol” and its goal is the “permanent preservation of the past”. It is a blockchain that is aiming to **archive all of world’s information forever in an immutable manner.** It is a **pay-once, store-forever** model.

Areweave doesn’t use a traditional blockchain but a so-called *“blockweave”** which incentivizes miners to store as much data as possible for as long as possible.

Areweave’s consensus mechanism is called **“Succinct Proofs of Random Access”** (SPoRAs). Block rewards are earned by miners if they have successfully demonstrated that they have **stored data which are part of the previous block**, as well as an additional, **randomly selected block** which is called the “recall block”.

Arweave is also smart-contract compatible. Its blockweave can process around 5 thousand TPS. (More on that later)

##What problem does it solve?

In simple words, Arweave is trying to solve the problem of having a reliable, decentralized and long-term data storage option.

With the recent adoption of cloud storage, many people have the perception that internet/cloud storage lasts forever. But this is false. The internet as we currently know it is **fluid and centralized**, which means it changes quickly and centralized entities can choose what they like or don’t. (All of internet storage is controlled by Amazon Web services, Google Cloud, Alibaba Cloud, Dropbox etc.)

A [2014 Harvard Law Study]( has found that around 50% of the web links used in Supreme Court cases do not even work anymore.

Not to even mention **security…** Everything is immediately shared between users and entities. I’ve heard plenty of hacking cases where everything started from exposed information through cloud storage.

##What’s the cost and how it is sustainable?

It’s simple. Users pay a fee to store information securely and permanently. These fees are used to incentivize miners to keep the blockweave running and storing all the data, forever. The more miners work on the network, the more decentralized, secure and long-term the blockweave will be.

The follow-up question to this is: *”But wouldn’t it be expensive to use in order to cover the costs of long-term storage?”*

Great question. Storage costs are actually decreasing year-to-year. It is estimated that he average storage prices for data have decreased by 30.5% over the past 50 years. Arweave stores users’ fees into an endowment that will be able to pay miners for the next 200+ years.

It costs around one cent for 4-6 MB of **”permaweb”**. At the moment, it costs around $8 of AR to store 1GB of data on Areweave. Everything that gets put onto Arweave needs to be paid with the AR token.

##But why do I need data permanence?

Well, it depends on what do you want to store forever. Users are currently using the **permaweb** to store: **Family history** (music, photos, videos, documents), **Digital art**, **Old movies**, **Books in the public domain**, **Podcasts**, **Blog**s, **Important documents** etc.

Companies may use it to store: **Legal documents, Financial Statements, Ledgers, Research papers, Architectural drawings, Government documents** etc.

Arweave is also a blockchain that enables the building of dApps. As of now, there are some very interesting projects built on Arweave, such as:

• [ArDrive]( – File sharing app (like DropBox)

• [Pianity]( – Music sharing and NFTs

• Redstone – Customizable DeFi data sets

• Glass Protocol – Decentralized video and livestreaming platform

In simple words, Arweave is a storage system that is: **Decentralized, Immutable, Secure, Permanent**

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4 thoughts on “ARWEAVE ignoring AR?”

  1. “It is estimated that the average storage prices for data have decreased by 30.5% over the past 50 years.” – you sure about this? sounds crazy low, I expected like 99.9%

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