Arweave is a decentralized storage network that aims to offer a platform for the indefinite storage of data. Describing itself as a “collectively owned hard drive that never forgets,” the network primarily hosts “permaweb”—a permanent, decentralized web that consists of a range of community-focused applications and platforms.
What is Arweave (AR)?
The Arweave network uses its native cryptocurrency, AR, to pay “miners” for storing information indefinitely. The project first met with users in August 2017 as Archain, was later rebranded to Arweave in February 2018, and officially launched in June 2018.
According to its Yellow Paper, Arweave aims to “facilitate the collective ability to store and share information among individuals and across generations.” To achieve this goal, its flagship permaweb is built on Arweave’s “blockweave”—a variation of blockchain technology where each block is linked not only to the one immediately preceding it but also to a randomly selected earlier block. Arweave states this incentivizes miners to store more data, as they need access to previous random blocks to add new ones and earn rewards.
Arweave is focused on creating a sustainable ecosystem around its network. In June 2020, it announced “profit-sharing tokens,” allowing developers to receive dividends from network transaction fees generated by their applications, and hosts incubators to support the creation of permaweb-based applications. The project also collaborates with startups through its “Boost” program, offering free storage and access to the Arweave team and industry investors.
In March 2020, Arweave announced it had received $8.3 million in funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures. This followed an earlier investment in November 2019 from Andreessen Horowitz, Union Square Ventures, and Multicoin Capital.
On the other hand, Arweave was founded by two doctoral students, Sam Williams and William Jones.
How to Buy Arweave Coin?
AR Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy AR Coin, one must first register with Binance and then send fiat money. Following the sending of a fiat currency like Turkish Lira or dollars, purchasing transactions can be carried out in the AR trading pairs with Tether (USDT), Bitcoin (BTC), BUSD, and Binance Coin (BNB).
In addition, on Binance, users can place an order to buy at not only the market price but also at a lower price. To do this, use the Limit tab and simply enter the amount you want to buy and the price you want to pay.