Arweave (AR)

Arweave is currently trading at $7.8522, after a price change of 1.28% in the last 24 hours.

Ranked as cryptocurrency #104 by capitalization today, AR market cap is valued at $262,328,364. AR trading volume reached $28,644,235 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on AR coin price prediction page.

What is Arweave?

Arweave is an open-source protocol built for indefinite, on-chain data storage. The platform uses cryptography to link stored data with other blocks on the Weave, and any attempt to alter the content is detected and rejected. Arweave achieves permanent data storage using Blockweave, Wildfire, Blockchadows, and proof-of-access technologies.

Arweave uses the PoA and proof of work consensus mechanism to validate transactions. The PoA model integrates data from a randomly selected block to augment the PoW system, which only relies on the previous block to generate the new blocks. Wildfire facilitates data sharing within a decentralized network. The system creates a ranking system that is local to every node. Wildfire ascertains how fast every block and transaction is sent to peers depending on their promptness to accept and respond to requests.

AR is the native token powering Arweave. There are 33,394,701 circulating AR tokens out of a supply of 63,190,435, and a hard cap of 66 million. The network uses AR to compensate miners for storing the network data. Arweave uses a mining algorithm called RandomX.

Sam Williams and William Jones launched Arweave in 2018.