Arweave

What is Arweave?

Arweave is a decentralized storage network that aims to provide a platform for the everlasting storage of data. It refers to itself as "a collectively owned hard drive that never forgets." The network primarily hosts "the permaweb," which is a permanent and decentralized web consisting of various community-driven applications and platforms.

In order to ensure the indefinite storage of the network's information, the Arweave network utilizes its native cryptocurrency called AR to compensate "miners."

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Recent Video Interview

Main points of the interview:

• Discusses AO, a hyperparallel computer.
• AO enables decentralized compute with asynchronous, parallel smart contracts.
• AO's actor-oriented programming facilitates message-based communication between processes, mimicking human interactions.
• Developers can write smart contracts using AOS, a decentralized operating system, with Lure language.
• AO offers infinite scalability and composability.

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Arweave Team Background

Arweave was established by Sam Williams and William Jones, both Ph.D. candidates at the University of Kent. Williams brought expertise in decentralized and distributed systems, having developed the HydrOS operating system as part of his academic pursuits. Meanwhile, Jones focused on graph theory and neural networking. Williams made the decision to drop out of graduate school to dedicate himself to the company, while Jones left the project in mid-2018 after completing his Ph.D.

Although Arweave initially had centralized leadership, in January 2020 it introduced a decentralized autonomous organization (DAO) consisting of core community members. This step was taken to promote the further development and expansion of the network and its ecosystem.

What Can you Do on Arweave?

Arweave enables fast and straightforward development by providing permanent storage. It allows you to store various types of data, ranging from files to fully decentralized web applications.

The permaweb ecosystem offers a comprehensive toolkit for constructing decentralized web applications on Arweave. It encompasses all the necessary components, including hosting for your web app's user interface, database querying capabilities, and domain name services. Importantly, these services operate in a completely decentralized manner. This empowers you to build web applications with blockchain-like characteristics: permanent storage, verifiable neutrality, and transparency.

In addition, Akord offers a user-friendly interface for seamlessly storing and publishing files on Arweave's blockchain. It is the perfect solution for archiving cherished family photos, safeguarding NFT projects, or backing up important business documents.

Also, you can use an Arweave wallet to connect to Permapages, a Web3 application that empowers users to establish and oversee their own enduring web3 profile and other permaweb pages. By connecting with your wallet, you can easily create your Web3 profile by uploading an avatar and providing social link details. Utilizing the editor, you can generate content and incorporate permapage widgets to infuse your profile with creativity and individuality.

Arweave Project Development

A groundbreaking addition to the Arweave ecosystem was unveiled - Timbre, an on-chain review platform set to revolutionize the relationship between consumers and brands. Harnessing the immutable and trustless nature of the permaweb, Timbre seeks to redefine the essence of consumer interactions and feedback.

The Timbre team envisions a significant transformation in consumer behavior over the next decade, where individuals transcend their passive consumer roles to become active advocates for brands and creators of vibrant communities. However, amidst this evolution, they assert that the core pillars driving consumer decisions - quality, experience, and trust - will remain unchanged.

In anticipation of this paradigm shift, the team sets its sights on the flawed mechanisms that foster the proliferation of fake reviews within the web2 landscape. This is why they are constructing a platform that enables users to contribute authentic reviews and share their genuine experiences on the blockchain, seamlessly linked to their social identities across both web2 and web3 platforms. By leveraging the power of Arweave, Timbre ensures that users' opinions and feedback retain their originality and authenticity, free from censorship.

Arweave Price Analysis

As of November 24 2024 Arweave has a marketcap of $1.4B. This is {{percentagefromath}} from its all time high of $89.24. In terms of its tokenomics, there's a total supply of 65M with 100% currently outstanding. Keep in mind Arweave has a fully diluted value of $1.4B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.