INTRODUCTION
Advancement in the cyberspace is a nonstop process with innovations been made from time to time. Some of the advancements brought dependence in the storage of information and belief that the information stored cannot be altered or lost. There are a lot of information being stored on the cyberspace, this information increase per second and it's only logical that they remain safe permanently. Even with the decentralized information dissemination system built on the internet, there is yet to be a corresponding permanent data storage system.
THE CURRENT SYSTEM
Blockchain continues to prove its one of the best innovations after the internet. It is able to be incorporated into real life practices which are usually followed by a totally revolutionary change backed by the decentralized, disruptive and transparent nature of the blockchain. It's not news that most blockchains have several challenges with their data storage. Fees are way too high for on-chain storage to be feasible, so new third-party protocols that are integrated on-top of existing blockchains would be needed to tackle these challenges. With typical blockchains, contents are never stored permanently and the cost to access content are remain relatively high.
The demand for data storage continues to grow exponentially and the need for a decentralized low-cost data storage protocol that can scale is now a necessity.
THE PROPOSED SOLUTION FOR A PERMANENT STORAGE SYSTEM
These challenges have been taken into careful consideration and a solution was therefore created. This unique solution is called Arweave, it is a blockchain network that plans to provide a permanent and immutable yet low cost storage. On the Arweave blockchain, there are structures called the block-weave which are designed to provide scalable on-chain storage. Arweave prevents the manipulation of data in any form because as the document is stored on the weave, it is cryptographically linked with every other block on the weave.
As the amount of data that is stored in the system increases, the amount of hashing needed for consensus decreases, thus reducing the cost of storing data. Decentralized applications can simply be built on top of the block-weave due to the protocol’s existing REST API. This reflects Arweave’s focus on the developer community and their ability to drive adoption of emerging and novel protocols.
TECHNOLOGY
Four fundamental technologies upon which the Arweave operates to create a low cost, immutable, and permanent storage on the blockchain include;
- Blockweave
- Proof of Access
- Wildfire
- Blockshadows
When all these four technologies are in motion, faster transactions and low-cost permanent storage is guaranteed.
TOKEN
AR token is the utility token of Arweave, it can be used for interaction in the Arweave ecosystem.
Token Symbol: AR
Crowdsale Token Price: $0.75
Hard Cap: $8,700,000
CONCLUSION
Developing a system of Permanent storage is highly beneficial and needed considering how important immutable records are becoming for all sectors. Arweave surely would achieve this with the system set in place.
USEFUL LINKS
Website
Lightpaper
ANN Thread
Telegram
Author Bitcointalk username: Dogecoin92
Bitcointalk talk profile: https://bitcointalk.org/index.php?action=profile;u=1275172;sa=summary