Blockchain

Arweave: Decentralized Protocol for Storing all Your Web Applications Permanently

Arweave can be described as a decentralized protocol that provides real information. Further, Arweave helps the user to save important data and assists to create websites while maintaining low costs and high speeds. Additionally, Permaweb is a collection of web applications that are built on the core protocol. Compared to the centralized web, the contents on the Permaweb cannot be altered.

What is Permaweb?

The information that is stored on the Permaweb can be accessed from a permanent URL that cannot be modified. Moreover, the URL is mathematically secured to the content on its own.

Permaweb Features

  • When an individual stores information downloaded from a free Firefox, chrome or Brave browser, or if he intends to fund their wallet, and make a single-time payment, the data stored here will be permanent. For example, if a forum is hosted on a Permaweb, it will be there forever, and it will not disappear like some of the online forums over the years.
  • Even though Permaweb is a bit expensive than other alternatives like AWS for the short term, it can keep the files forever. A representative remarked that the costs of data storage have increased by around 30 percent for some time; nevertheless, the decentralized network would be able to put up with the costs.
  • Another advantage is that the app users can select to use the original version of the Perma app rather than the updated one. In this way, if a developer later adds the versions with privacy invasions or ads, users can depend on the older version.
  • Permaweb can also be used to enable privacy. Moreover, torrenting is free which will be more tempting to the pirates.

How does Arweave Work?

Arweave is not an organization; neither does it own any content hosted on the Permaweb, nor the network. Rather, Arweave is a protocol that explains how computers can communicate with each other so to achieve a task, such as storing data permanently. Moreover, the protocol connects the data that are needed to be stored for longer periods, with people who have an additional hard drive space that they would like to rent out without the intermediaries.

ARCA DAO

Recently, Arweave initiated the ARCA DAO, a community-governed, Ethereum based organization, which was created to develop and grow the Arweave network. Like some of the non-profit DAOs, members of the ARCA can vote regarding the pool of assets. Currently, the new DAO comprises 17 members, however, any other community contributors are eligible to apply for free for future membership. Arweave commented that it is “just the beginning” of promoting the community ownership of the projects concerning Arweave and if it becomes successful, a similar effort will follow in the future.

Wrap up

Arweave is a completely open-source platform developed from scratch to empower the community of developers, miners, and several others to establish the next generation web. Moreover, Arweave connects with those who have disk space to spare, also with others who need dependable data storage. Further, this system provides unparalleled levels of data security and replication for users while offering financial incentives for the participants in the network by completely cutting out the intermediaries.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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