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Arweave (AR) ICO Review

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Arweave is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameArweave
Token SymbolAR
WhitepaperView Whitepaper
Website LinkHome
CountryUK
PlatformBlockweave
Whitelist/KYCKYC & Whitelist
Restricted areasUSA, China

More about Arweave (AR) ICO:

Arweave is a new data storage protocol on a blockchain like structure called the Blockweave. It’s built on a novel proof-of-access consensus mechanism that makes truly permanent, low-cost data storage available for the first time. Unlike other blockchains we’ve created a truly scalable infrastructure to be the backbone for the data economy because we’re able to reach up to 5000 tp/s.That will soon reach visa-level transaction speeds because we’ve built a continuously self-optimising network that will always improve over time as more miners adopt the network, whilst at the same time making storage cheaper. We also store data at a fraction of the cost of our competitors, Filecoin, Siacoin, and Storj over the long-term.

Typical blockchains have several major well- known problems with data storage. These problems require new third-party protocols to be integrated on-top of existing blockchains, as fees are too high for on-chain storage to be feasible. Therefore, with typical blockchains there is always going to be a cost to access content, and content is never stored perma- nently. As the demand for data storage grows exponentially, the need for a decentralized low-cost data storage protocol that can scale is a necessity.

In this work we present Arweave – a new blockchain like structure called the block- weave. The blockweave is a platform de- signed to provide scalable on-chain storage in a cost-efficient manner for the very first time. As the amount of data stored in the system increases, the amount of hashing needed for consensus decreases, thus reducing the cost of storing data. The protocol’s existing REST API makes it trivially simple to build de- centralised applications on top of the block- weave, reflecting Arweave’s focus on the de- veloper community and their ability to drive adoption of emerging and novel protocols.

In this paper, we also introduce novel con- cepts such as; block-shadowing, a flexibly- sized transaction block distribution algo- rithm that improves on current ‘sharding’ techniques by other blockchains, a self- optimising network topology, and a new con- sensus mechanism called proof of access.

On top of the Arweave network lives the permaweb: a global, community-owned web that anyone can contribute to or get paid to maintain.

The permaweb looks just like the normal web, but all of its content – from images to full web apps – is permanent, retrieved quickly, and decentralized – forever. Just as the first web connected people over vast distances, the permaweb connects people over extremely long periods of time.

No more 404s. No more stealth edits. No more web apps that decline in quality.

Arweave makes information permanence sustainable.

Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever – for the very first time.

As a collectively owned hard drive that never forgets, Arweave allows us to remember and preserve valuable information, apps, and history indefinitely. By preserving history, it prevents others from rewriting it.

Introduction


In this information age we often succumb to the illusion that because information is readily available, it can never be altered or lost. This is foundationally untrue [7]. While, in the internet, we have built a monumental system of decentralised information dissemination, we have yet to build a corresponding system of permanent knowledge storage. Modern history is full of examples of the destruction and loss of vital information, from fires at libraries and archives [9, 10, 3, 8], to book burning in authoritarian states [12, 11]. When we look up information on the internet, we are depending on being allowed access to centralised stores of that data. Access to the servers that hold this information can be revoked by their owners at any time. Similarly, as serving information on the internet requires the paying of server and upkeep costs, websites can often simply disappear when funds are no longer available.

Background


All blockchain innovations sit on the shoulders of giants, including Bitcoin itself, a symphony of data structures, distributed networking and cryptography. We too have sought to further the space, solving specific shortcomings of existing blockchain networks, namely storage, and along the way a novel approach to transaction speeds. Most blockchain technologies today insist that a ”full node” must maintain a copy of the entire blockchain in order to verify future transactions. While the Merkle data structures that make this possible are in and of themselves an impressive feat and add a layer of unparalleled security, we feel that some performance enhancements around this process could reduce the burden of synchronization for a full node. We present in section 4 several technologies that address block, node, and wallet synchronization. The full blockchain requirement is perhaps even more of a hindrance for existing blockchain technologies when it comes to storing data. In the case of Ethereum, a decentralised world computer, storage is incredibly costly using their native token. Arweave’s primary motivation is to make permanent, immutable storage a reality, in the same way it is represented in Ethereum. However, high fees make this storage increasingly impractical. While it is possible to store data on the Ethereum, previous attempts have been impractical due to data storage costs. Other blockchain technologies have focused on improving consensus algorithms between nodes, notably Stellar Lumens, and dPos architectures such as Ark and Neo. While this may improve transaction speeds, the burden of storage still remains the long term hurdle many of these networks will face. By focusing on solving storage first, we have experienced several performance enhancements that can be applied to facilitate high-throughput currency transactions.

Motivation


We have designed and implemented a blockchain network where permanent, low cost storage is a reality. Weaving storage access into consensus, combined with novel approaches to transaction bundling and arbitrarily sized blocks, creates a highthroughput cryptocurrency that improves on other cryptocurrencies like Bitcoin [10] and Ethereum [12]. In the past, archives (internet or otherwise) have typically been maintained by a single institution (or even individual), making them vulnerable to two primary forms of manipulation. The first of these is through the modification of documents during their storage [2]. The second is that the documents could have been forged or modified prior to their entry into storage [1]. For example, the many works attributed to Socrates that are believed to have been penned by his disciples [6]. Arweave solves both of these problems. Once the document is stored on the weave, it is cryptographically linked with every other block on the weave. This ensures that any attempt to change the contents of the document will be detected and rejected by the network. In this way, no subversion of the information on the weave is possible. Arweave is a browsable sister network to the internet, providing the long-term, permanent data storage features that the internet desperately needs but currently lacks. A critical component of the Arweave system is designed for developers to easily build applications that interface with, create, and use data from the network. These apps, built with a language agnostic REST API, will act as a node in the network that listen to the network. The functions of these apps will be wide and varied, from decentralised and immutable social networks to discussion websites and news aggregators. In order to submit information to the weave, a small number of tokens will be required. These tokens will be used to pay miners for their work in maintaining the weave and network, as well as disincentivizing the propagation of spam. This represents a great improvement over typical centralized storage systems. Similarly, it empowers individuals to ensure that the information they personally care about will be perpetuated into the future. The incentive to maintain the weave also increases as the network and documents will reinforce the value of the tokens. As these effects compound, we expect Arweave tokens to become a valuable asset for the information age; inseparably and intrinsically linked to a vast trove of important documents.

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