Arweave (AR) is a decentralized storage network that offers a platform for the permanent storage of data. Launched in June 2018 by Sam Williams and William Jones, Arweave aims to address the issue of data impermanence on the internet, leveraging blockchain technology to ensure data is stored in a way that is permanent, tamper-proof, and accessible.
The native cryptocurrency of the Arweave network is AR, which is used to compensate network participants for storing and retrieving data, thereby incentivizing the perpetuity of information. Fees are based on the volume of data stored and the length of time data is to be preserved. AR tokens can also be used for staking by network validators to maintain the integrity of the blockweave.
Arweave's underlying technology, the blockweave, is an evolution of traditional blockchain concepts. The blockweave architecture enables a self-organizing library of data that grows and is secured by the collective efforts of network participants. Bblocks in the blockweave reference multiple previous blocks, creating a structure that optimizes data retrieval and validation, facilitating scalable and efficient on-chain storage.
Arweave’s Permaweb is a decentralized, permanent web which operates on top of the Arweave network, allowing developers to build and host applications and websites with the assurance that data is stored forever without the risk of loss or censorship.
Arweave employs the Proof of Access (PoA) consensus mechanism, which not only secures the network but also ensures that stored data remains accessible over time. Validators are required to provide proof of randomly selected past data blocks to participate in the consensus process.
