We listed a new cryptocurrency Arweave ($AR) on Millionero this week. Let’s learn more about what Arweave is and how this project works
Introduction
Initially, the team launched the project in August 2017 under the name Archain, but later they rebranded it as Arweave in February 2018 and officially launched in June 2018.
How it works
Arweave is decentralised network that offers a way to store data on the internet forever without needing to worry about it getting lost or changed. It lets you save files, documents, websites, and more in a way by providing permanent storage. Arweave uses its own blockchain “Blockweave” that is specifically designed for scalable, permanent data storage.
Permaweb–
Arweave is known for Permaweb, decentralized web built on top of the Arweave network that allows users to store data permanently. This is in contrast to traditional storage solutions where data may be deleted or corrupted over time.
Arweave offers the service where you can store data forever by paying it once. Arweave provides you the storage for the data for 200 years. Storing a data for 200 years should be very expensive, right?
No, it only costs $0.005 to 1 MB data on Arweave for 200 years. Users use the native token of Arweave, AR, to pay for data storage on the network.
Overview– With the market cap of 2.01 billion dollars, Arweave ($AR) established itself among top 50 cryptocurrencies. Last 24 hour trading volume is 48.27 million dollars and the volume/ market cap ratio is 2.41%.
Currently circulating supply of Arweave is 65.65 million AR that is almost 100% of total supply. It elminates the chances of inflation in future.