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Arweave

AR

5.0

Price
$9.64
10/4/2022, 4:04:36 PM
diamondHands

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Market

Market stats

Market cap

$321.8M

Volume (24h)

$11.8M

Circulating supply

33.4M AR

All time high

$90.94

Price change (1h)

-0.23%

Price change (24h)

+2.6%

Price change (7d)

-0.01%

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Arweave is on the decline this week.

The price of Arweave has fallen by 0.01% in the past 7 days. The price increased by 2.60% in the last 24 hours. In just the past hour, the price shrunk by 0.23%. The current price is $9.636033 per AR. Arweave is 89.40% below the all time high of $90.94.

The current circulating supply is 33,394,701 AR.

About

What Is Arweave (AR)?

Arweave is a blockchain protocol that allows users to store data permanently on the network for a one-time fee. The protocol seeks to connect users or organizations that need permanent data storage with owners of free hard drive space. Arweave secures the connection through a decentralized network and ensures that the data is perpetually available, backing it by a sustainable endowment. Additionally, Arweave uses a permanent web of pages and applications on top of the core protocol, known as Permaweb, which stays active forever. 

Permaweb consists of a set of modular and interchangeable protocols built on top of the Arweave protocol. The network claims that Permaweb is the evolution of the traditional web, which would allow users to share a resilient knowledge base that can be perpetually replicated across the globe. Along with storing permanent data, the Permaweb protocol will also host decentralized applications (DApps) governed by individual codes. Developers can deploy Permaweb’s profit-sharing communities (PSCs) in the DApps built on the protocol. PSCs are governance protocols that help DApps to distribute revenue among the stakeholders in real time. 

According to the whitepaper, the Arweave protocol is built on four core technologies: Blockweave, Proof of Access, Wildfire, and Blackshadows. The protocol claims that these technologies help to reduce costs, enhance throughput, and build permanent storage on new blockchains. Blockweave consists of two concepts, hash list and wallet list, which allow Arweave nodes to complete network functions without possessing the entire chain. Blockchain nodes are small interconnected servers that interact and exchange information within the network. 

A hash list is a list of old block hashes, which are mathematical puzzles that miners need to solve to validate blocks. The wallet list is the list of all active crypto wallets in the ecosystem. Hash list and wallet together help the network. Arweave uses that to verify old blocks, effectively evaluate new blocks, and execute transactions without interacting or possessing with previous blocks. Moreover, the combination of hash lists and wallet lists allows nodes to join the network and immediately participate in the mining process. 

Proof of access (PoA) is an algorithmic consensus mechanism based on the proof-of-work architecture. The PoA algorithm incorporates data from an old block chosen randomly to generate new blocks in the network. Wildfire, per the whitepaper, tackles the issues related to data sharing within a decentralized network. Likewise, Blackshadows reduces wastage of data and enhances block speeds by sending shadow blocks to the nodes instead of a whole block.

AR is the native cryptocurrency of the Arweave protocol. Users need AR tokens to access the DApps built on the protocol by paying miner fees, endowment fees, tips, etc. Moreover, the servers need to hold a certain amount of AR tokens to process requests for writing data on the nodes. Likewise, users need to spend AR tokens to submit information on the Arweave network. The platform aims to make the AR token a valuable asset for the information age, intrinsically linked to essential documents. 

History of Arweave (AR)

The Arweave mainnet was launched in June 2018. The protocol was initially called Archain, and the original whitepaper was released on August 2, 2017. The latest whitepaper with the new name was released on April 24, 2018. Both the papers were authored by Samuel Williams and William Jones, the co-authors of the platform. Williams is the CEO of Arweave, while Jones is the current AI and machine learning lead at Embecosm. 

How Are AR Tokens Created?

Arweave tokens (AR) are created using the mining technique of block validation. The protocol deploys proof of access, a modified version of the proof-of-work consensus mechanism, to add new blocks to the chain. 

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FAQ

What is the current price of Arweave?

The price of 1 Arweave currently costs $9.64.

What is the market cap of Arweave?

The current market cap of Arweave is $321.79M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Arweave?

The all-time high of Arweave is $90.94. This all-time high is highest price paid for Arweave since it was launched.

What is the 24 hour trading volume of Arweave?

Over the last 24 hours, the trading volume of Arweave is $11.76M.

What other assets are similar to Arweave?

Assets that have a similar market cap to Arweave include 1inch, Convex Finance, DeFiChain, and many others. To see a full list, see our comparable market cap assets.

How many Arweave are there?

The current circulating supply of Arweave is 33 million.

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