Some of us believe that our information online is like a staple on the web. Like a fossil in the never ending land of the internet. I must say though, we have built an impressive decentralized system of information accessible to anyone with internet access. Unfortunately though, we have yet to build a system of permanent knowledge storage. Storage that's factually the consensus. Meaning we don't have knowledge stored that's been considered the consensus facts among most.
Centralized servers are becoming the lifeline for us to access informational data. Unfortunately, anyone and/or company has leverage to revoke our privileges of accessing this data. This is a current problem and indication that we have to upgrade our systems to something more efficient and productive.
Meet Arweave
As the tremendous power of the internet has been realized, powers that be are trying to monitor, control and manipulate access to this medium. This is where Arweave is a beneficial factorial deterrent. To combat the direction in which the internet is being driven, Arweave has created a new blockchain called the "weave".
It's a censorship free platform
for new data storage protocol, on a blockchain-like structure called the Blockweave. The Blockweave blockchain is based on a proof of access consensus mechanism that makes this a truly permanent storage medium, that's cost efficient which makes it available to anyone.
With Arweave
individuals that are considered low to middle class has the opportunity to obtain adequate credit at reasonable rates. This service is able to process thousands of transactions per second (TPS). Making it a very efficient medium to process an overwhelming amount of transactions.
This is a fact, the demand for permanent data storage will grow. Creating the need for an alternative to the norm. Being able to solve to fundamental problems associated with public blockchains which are:
- On-chain storage limits
- Unsustainable long term mechanisms
Arweave has designed and implemented a blockchain network where permanent low-cost storage has become a reality for everyone. This is done by manipulating storage access into consensus, as well as combining a more logical approach to transaction bundling and arbitrarily sized blocks. This approach has created an efficient cryptocurrency that's superior to others like Bitcoin, Hash and Ethereum.
An example
of Arweave's benefits would be, say, you have some important documents you need stored digitally. Many vendors can accommodate your needs. But you take the risks of them being modified while stored, as well as them being altered or forged prior to being stored. With Arweave, these documents are permanently stored. The documents are cryptographically linked to every other blocks on the blockchain platform. This secures any attempts altering the contents of the documents, they will automatically be detected and rejected by the network.
A major component
of the Arweave system, is that it's designed for permanent storage. Reducing the cost of storing data, also enables the deduction in hashing. Lacking in intrinsic value, most cryptocurrencies are considered unstable. Arweave on the other hand clearly indicates the direction of this cryptocurrency.
The project has a huge potential to succeed. Let's see.
Follow the project:
Website
Facebook https://www.facebook.com/ArweaveTeam/
Twitter https://t.me/arweave
Lightpaper
Author's BTT profile https://bitcointalk.org/index.php?action=profile;u=1023814