A new data storage blockchain protocol based on a novel proof of access consensus mechanism that creates truly permanent data storage for the first time. Now data is finally permanent, low-cost, and truly censorship free. Arweave has solved the millennia old problem of decentralised data availability. Pay Once, Store Forever. As the $3 trillion data-storage industry grows, the need for cheaper permanent data-storage become an urgent necessity.
Unlike other blockchains they’ve created a scalable infrastructure to be the backbone for the data economy as they’re able to reach up to 5000 tp/s. That will soon reach visa-level transaction speeds because Arweave has built a continuously self-optimising network that will always improve over time as more miners adopt the network, whilst at the same time making storage cheaper. They will store data at a fraction of the cost of their competitor – Filecoin, Siacoin, and Storj over the long-term which is positive. They have a Test Net already out for use and have 2 first-party applications already built on the platform where people are already using these application like the Internet Achieve, which is being used to do ICO due diligence. Arweave will rely on it’s community of miner to adopt the network so it can grown it’s tp/s. Should this happen i can’t see this ICO not being a success.
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