Arweave aims to permanently secure the world’s knowledge by using blockchain-based storage.
They do this by creating a permanent, decentralized, and unalterable record of data. This could be anything from websites, applications, photos, etc. Using the Arweave decentralized apps (Permaweb, ArDrive) companies and individuals can ‘Pay Once Store Forever’.
The internet has been a huge success for global access to information however the data is stored by centralized organizations and rely on them to allow us access.
- Access can be revoked
- Ongoing storage costs can mean the information is lost when funds are no longer available
- Data can be accidentally lost or degraded
- Centralized data can be manipulated
- Governments can censor or restrict access
- Data can be updated and then the ‘original’ version can be denied
Like other data storage projects, Arweave has a network of people who have available computer storage and use them to store the data of those looking for permanent storage solutions. They, however, do this for a cost-effective, single up-front fee.
The unique solution to creating this uncensored record for the future is the Arweave protocol which creates its own blockchain-based storage network, blockweave.
The software protocols that Arweave has developed allow it to not only scale to storing all of the data on the web but also to scale the one-off payments processed for adding the data (Storage Endowment; see below).
There are already a number of platforms that have been built onto the Arweave network:
- Permaweb – This is a collection of websites, decentralized applications (dApps), or just data, that is accessible from the current internet but will offer the benefits of permanent storage.
As well as storing static files, the permaweb can also host full, decentralized web applications. These applications live independently inside the permaweb, governed purely by their own code.
- Smartweave – It allows users and developers to build programs whose execution is trustable and decentralized.
- ArDrive – An intuitive user interface that gives consumers easy access to ‘Pay Once Store Forever’.
: Upload multiple files at once with a wide variety of file types including; video (mp4, mov, wpv), audio (mp3, wav), photos (jpg, png, tiff), vector (svg, eps, ai), documents (Word, Powerpoint, PDF), and more.
For a list of all the projects, services, and Apps currently available on the Arweave Ecosystem:
Blockchains that use Arweave to store historical transaction data include:
- NEAR Protocol
There are a number of cryptocurrency/blockchain-based competitors looking to develop storage protocols (see similar companies):
- Internet Computer Protocol
but the main market leaders for cloud-based storageare the large technology companies:
- Alphabet (Google)
A total of 66 million AR tokens will be released.
An initial 55 million was at launch in June 2018. The remaining 11 million are due to be slowly released to the computers performing the storage.
The AR token is used by those buying and those providing the data storage. The money paid for storage goes into a Storage Endowment and from there is slowly released to those performing the storage.
The storage endowment is a pool of money that is invested to grow larger enabling the regular payment to those providing payment, not just once but for many years.
If you plan to mine for Arweave then you are entitled to a payment from the endowment for the storage of data. The basic suggested computer requirements are 8 GB + 400 MB per mining partition (4 TB drive) worth of RAM.
Consultant | Senior Project Manager
Program Manager @ Techstars Berlin
Mentor @ Startup Campus Berlin
Mentor @ Startup Weekend
Mentor @ UTEC Ventures
Advisor @ athlead
Head of Corporate Development
SVP, Business Development
CEO and Founder
Vice President, Sales
Vice President, Business Development
Investors / Partners
- Multicoin Capital
- Iron Key Capital
- Karnika Yashwant
- FJ Syndicates
- a16z crypto
- Coinbase Ventures
- Union Square Ventures
- Andreessen Horowitz
- Union Square Ventures
- Bixin Ventures
- Arrington XRP Capital
- One Block Capital
- Benjamin Kong
References / FAQ’s
What is Arweave used for?
Arweave is a software storage solution that seeks to store files permanently across a distributed network of computers. They want to create a permanent immutable record of the worlds knowledge.
Is Arweave a Solana project?
Arweave and Solana have a partnership where all the Solana ledger data is stored by Arweave’s decentralized permanent data solution, ensuring the data can be always retrieved as required.