Buying Arweave (AR) is Simple

Why Buy Arweave?

Buying Arweave (AR) could be a strategic decision if you believe that data preservation is crucial for the future of the decentralised  web. Arweave offers a unique data storage solution that ensures the permanence and immutability of information, an essential feature for many decentralised  applications. This project is beneficial for those who need to securely and permanently store legal documents (e.g., contracts) and other important and sensitive data.

You might buy the Arweave (AR) token because it is used in various ways within this ecosystem. Users can pay for storage and bandwidth, participate in network governance by voting on protocol updates, and transact on the Arweave marketplace. Additionally, “profit-sharing tokens” (PSTs) allow developers to receive dividends generated from the transaction fees of their applications on the network.

What is Arweave?

Arweave is a decentralised  data storage network founded in 2018 by Sam Williams and William Jones. Its distinctive technology is the “block weave,” a variant of blockchain that enables permanent data storage. Unlike traditional blockchains, where each block is linked only to the previous block, the block weave , each block is linked both to the previous block and to a random block among the earlier ones. This mechanism incentivises  miners to store more data, as they need to access the required random blocks to generate a new one.

Arweave also introduces an innovative consensus model called “proof-of-access” (PoA), a modification of the more common “proof-of-work” (PoW). In PoA, miners must prove they can access old blocks to add new blocks to the network. This reduces miners’ storage requirements, reduces storage requirements for miners, and enhances the network’s security and decentralisation . This project also launched a Decentralized Autonomous Organization (DAO) in 2020 to support the development and expansion of its ecosystem. This allows the community to play an active role in managing and evolving the network.

Finally, Arweave is backed by prominent investors like Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures, who have invested millions of dollars in the project. This financial support highlights the market’s confidence in Arweave’s potential to revolutionise  the decentralised  data storage sector.