Arweave, a Germany-based blockchain protocol steering permanent storage of data, has welcomed some of the most prominent venture companies in the world – Multicoin Capital, a16z crypto, and Union Square Ventures. The new partners have joined Arweave’s list of long-term token holders in their mission to create the first permanent data storage system in the world. The Arweave Project announced the update through their official Medium blog.
The Arweave protocol is live for 17 months now, on top of which, the permaweb is built. The permaweb exposes all the data of the network to the web browsers, making it immutable even in case of disasters like flood or fire. Through their protocol, the Arweave Project envisions a future where the valuable knowledge, history, and applications of humanity can be preserved forever.
Arweave is excited to work with a16z crypto’s Katie Haun, Union Square Ventures’ Albert Wenger, as well as Multicoin Capital’s Kyle Samani. While Haun will bring in extensive regulatory experience in the changing legal domain, Wenger will help develop future societies through his vast understanding. Samani, on the other hand, has an unparalleled vision when it comes to the emerging web3 infrastructure and associated industry.
The new partners will be joining the elite Arweave community that also includes Christopher Heymann and Lasse Clausen of 1kx, Techstars global network, and Arrington XRP Capital, in addition to many individual contributors to the community.
Through this new development, the company intends to grow its developer community further, increase awareness, and research and development activities in their ramp-up to the Arweave 2.0.
For those who are unaware, Arweave officially unveiled the permaweb in January 2019. As per the blog, the network, in the past six months alone, has experienced tremendous growth with everyday transaction usage witnessing a staggering increase. Moreover, the permaweb now has more than 100 applications built by the community.