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Arweave (AR) is the 96th largest cryptocurrency in the world by market cap, valued at $645,792,634. The current price of Arweave is $9.997, which is -2.847% lower than yesterday. Prices have ranged between $10.47 and $9.92 over the past 24 hours. All prices are listed in US dollars and accurate as of January 26, 2023 06:01 UTC.
The Arweave project is an innovative entrant into the cryptocurrency market with a focus on making data storage permanent. According to Arweave’s blog, it aims to develop a collectively owned hard drive that never forgets.
This is facilitated by a new type of blockchain-comparable system called the “blockweave”. Unlike traditional blockchains where each block is linked to the one prior in chronological order, each block in the blockweave is linked to the block immediately prior and a random previous one. The blockweave then implements a proof-of-access mechanism. This combination allows for far greater data storage on the network and helps Arweave to deliver its end goal – the “permaweb”. The permaweb is a decentralized, unchangeable and permanent Internet that can be browsed through and contributed to indefinitely. The platform is intended to counteract the issues of censorship, security and impermanence that plague the Internet of Things. AR is the native token to the Arweave ecosystem. The tokens are used to interact and store files on the permaweb as well as incentivise miners to contribute data to the blockweave.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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