Arweave's Solution to Decentralized Storage is Faster and Cheaper Than The Competition
The Good News
Arweave is introducing a new type of blockchain that allows users to store data on-chain, permanently and affordable.
TL;DR - Arweave
Arweave is a blockchain designed for scalable on-chain data storage. Arweave has named its blockchain like structure a blockweave.
Arweave's solution to on-chain storage creates a system where the cost of data storage decreases as the amount stored increases. This is in direct contrast to the current decentralized storage structures that increase costs as storage requirements increase.
Let's look at five key facts about Arweave.
Arweave Is Building A Blockchain With Integrated Data Storage
Arweave is introducing a blockchain like structure called a blockweave that has data storage fully integrated into its blockchain. By using the blockweave the team does not require a separate data storage protocol to built on top of a preexisting chain.
This allows users to access the data with a single token compared to multiple tokens as required by current solutions.
High Transaction Speeds
The Arweave structure is aiming to be a high-speed blockchain with up to 5000 TPS. This high TPS will be achieved through an innovative system that does not require nodes to store full copies of the blockchain.
Instead, nodes utilize a system that includes a block hash list that allows old blocks to be verified, and potential new blocks evaluated effectively and a wallet list that allows transactions to be verified without possessing the block in which the last transaction was used.
These high-speed data transfers allow for data storage, data sharing, and data collaboration.
Applications Can Live on The Blockweave
Since Arweave is actually a blockweave with a high transaction speed it will change the way decentralized apps are executed. Complete applications will be able to live on the blockweave instead of requiring a combination of on and off-chain data or the use of third-party protocols and multiple tokens.
Cryptokitties built on Arweave could be a completely on-chain application from the kitten graphics to the UI/UX.
Low Price of Data Storage
Arweave has a unique pricing structure for users that is much different than others in the decentralized data space. Arweaves native AR token will be used to pay for storage of data. The payment will be rewarded to miners for storing and maintaining the data.
The fee for data storage is a one time fee and retrieval of the data is free.
Easy Access For Devs
Not only can apps interface with Arweave but they can easily be built by developers. The apps can be built with the language agnostic REST API.
This system will allow clients to access Arweave using a Chrome Extension or application with Arweave wallet integration. In many ways, Arweave will allow developers to build a parallel internet that is completely on-chain.
For More Information
📅Token Sale Dates: TBD
📈Token Ticker: AR
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STOPArweave's premises of being able to decrease costs while still being able to increase storage, is a prominent and unique opportunity for further exploration. We hear of the mass storage costs required by modern enterprises, so imagine the benefits of a project like this
Data storage is going to be huge hurdle in the very near future. The key for me with Arweave is the decreasing cost as you mentioned but also the idea that the storage is decentralized and doesn't require seperate tokens for access to data as well as transaction fees.