Arweave (AR) – Crypto news in French

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Arweave is software intended to store files permanently in a distributed computer network. Its goal is to build something reminiscent of the legendary Library of Alexandria: a digital archive that endures forever.

As such, Arweave has a lot in common with other decentralized storage platforms like Filecoin and Sia, both of which also offer utility in cryptocurrency markets for users who want to buy and sell services or store data.

Like those ambitious protocols, Aarweave seeks to disrupt a market dominated by existing storage giants like Google, Amazon, and Microsoft.

But what sets Arweave apart from its competitors is its commitment to storing data permanently through unique incentives around its AR cryptocurrency.

Arweave's design means that it should theoretically allow people who store data to generate revenue, even after the first payments have been made for its decentralized storage service.

Additionally, files stored on Arweave can be accessed through regular web browsers, meaning they do not require a special wallet or blockchain service. Other notable features under development include a voting mechanism that allows its users to moderate illegal content.

As early as 2020, Arweave has already begun storing data from Internet archives as part of a partnership it hopes will help protect the traditional institution's data from manipulation.

Arweave was originally called Archain in 2017, but changed its name in 2018 when the Arweave team was admitted to participate in the Techstars startup accelerator.

In 2019, Arweave went on to raise $5 million from reputable venture capital firms such as Andreessen Horowitz and Union Square Ventures.

In March 2020, Arweave announced an additional $8.3 million to expand the community of users and developers who rely on Arweave.

Arweave is not exactly a blockchain. Instead of a blockchain containing transactions and data, the typical design of most cryptocurrencies, Arweave stores its data in a block diagram.

This means that each block is linked to two previous blocks in Arweave and forms a structure called a “blockweave”. This is opposed to Bitcoin, where blocks are linked in order and form a chain.

(Other cryptocurrencies that use a graph structure include Hedera Hashgraph).

Proof of access consensus

Areweave's design also means that the way transactions are verified for accuracy differs from most cryptocurrencies.

Where Bitcoin asks computers on its network to compete to solve a mathematical puzzle – a process called “proof of work” – Arweave uses a different mechanism called “proof of access”.

In short, Arweave asks each computer participating in the network to check whether a new transaction packet also contains a randomly chosen marker from a previous packet.

If this marker is present, new transactions can be added to the network. The computer that adds a new packet receives a reward in the form of AR cryptocurrency.

Proof of access helps ensure that computers on the Arweave network can verify that all new transactions are correct and that old transactions have not been manipulated.

Content moderation

Another feature of the Arweave network is the ability for anyone running the software to choose the type of data they want to store. This process is called content moderation in Arweave.

Simply put, computers on the network can decide what types of content they want to host.

They may only want to host audio files and not images. When new content is uploaded to the network, Arweave asks each computer if it accepts the data.

Nonetheless, there are incentives to store data more intensively, as users who do so are rewarded with a higher percentage of transaction fees.

Why is AR valuable?

AR is the currency of the Arweave network.

Users who want to store data must purchase AR to pay for distributed data storage, and computers on the network that provide storage services must accept payments in AR tokens.

What is notable for investors is that the number of AR tokens in circulation is limited to 66 million units. The first tranche of the AR cryptocurrency was created in June 2018, when Arweave was launched on the market. At the time, 55 million AR tokens had been created.

There are plans to gradually release an additional 11 million AR tokens to computers running storage services on the network.

Token Economy

In particular, in-network payments are calculated assuming that the cost of storage will continue to decrease over time. Therefore, paying for storage in the Arweave network amounts to paying a one-time upfront fee for permanent data storage.

As with other blockchain data storage systems, AR payments are made to computers in the Arweave network that provide storage services. However, payments are not made directly to each user. Instead, they are pooled and gradually distributed to computers over time.

This pooling of costs is called memory foundation. Like other types of foundations, it aims to generate returns from the pool of capital placed there.

The pool of fees users pay for storage increases in value over time, like cash in a bank account that earns interest. As this pool increases in value, it can make regular payments over several years to the computers doing the storage.

Why use AR?

You might find Arweave interesting if you think the web is overly dependent on centralized services like Amazon, Google, Microsoft or Alibaba for storage.

Additionally, you can use Arweave if you believe in its particular vision of this future.

Unlike competitors like Filecoin and Sia, Arweave focuses on permanent storage. This means that the AR token can be interesting if you think digital data should be stored forever, like in a traditional museum or library.

IT operators can also find it an interesting way to sell storage space and earn money by contributing to a better, more sustainable web.