Arweave is a data storage protocol on the Blockweave. It is built on a new proof of access consensus mechanism that provides low-cost permanent data storage. Unlike other blockchains, Arweave developed a scalable infrastructure to serve as the data economy’s backbone because it can reach up to 5000 tp/s. It is expected to soon achieve visa-level transaction speeds as it has created a self-optimizing network that will continuously improve as more miners adopt the network while making storage cheaper. Arweave stores data at a fraction of the cost of its competitors, Siacoin, Filecoin, and Storj in the long-term.
Typical blockchains include various issues with data storage. These problems require the integration of new third-party protocols on-top of existing blockchains since fees are too expensive for on-chain storage to become feasible. Meaning, in typical blockchains there will always be a cost to access content, and content is never recorded permanently. With the exponentially growing demand for data storage, a decentralized cheap data storage protocol which can scale is necessary.
Blockweave is a blockchain-like structure intended to offer cost-efficient scalable on-chain storage. “As the amount of data stored in the system increases, the amount of hashing needed for consensus decreases,” hence minimizing data storage cost. The existing REST API of the protocol makes it trivially easy to develop decentralized applications on the Blockweave, reflecting the focus of Arweave on the developer community and their ability to encourage adoption of new and emerging protocols.
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