Exchange Arweave

What is Airwave?

Launched in 2017, the Arweave project aims to address the long-term sustainability of data on the internet. Sam Williams, the founder, envisioned a decentralized network where users could store data permanently, without the risk of removal or censorship over time. Arweave stands out in the blockchain space due to its novel 'blockweave' technology, which mitigates the challenges often associated with data permanence on the web. The system is based on a Proof-of-Access consensus mechanism, where the more you store, the more you can earn. The Arweave blockchain stands as a pioneering solution to counter the ephemeral nature of information on the internet, enabling the permanent storage of data. Its user-friendly interface attracted individuals, companies, and even governments to utilize this solution for various purposes, from archiving sensitive information to ensuring the timeless availability of critical documents.

Key Features

• Permanent Storage: Arweave's focus on permanent data storage sets it apart from other blockchain projects. Once data is uploaded to the Arweave network, it is stored indefinitely, with miners incentivized to keep it available.
• Proof of Access: The Proof of Access consensus mechanism ensures that data stored on Arweave remains accessible. Miners must continuously provide storage space to maintain their mining rewards, creating a sustainable ecosystem.
• Data Integrity: Arweave uses cryptographic techniques to ensure the integrity of stored data, making it resistant to tampering and unauthorized modifications.
• Low Cost: Storing data on Arweave is cost-effective, with fees based on the amount of data and storage time. This makes it accessible to a wide range of users, from individuals to enterprises.
• Type of Blockchain: Arweave operates on a modified form of the blockchain, with its unique consensus mechanism and storage model tailored to the needs of decentralized storage.

Average Fees on Arweave Network

The average Arweave Network fees vary depending on the volume of data stored and the duration of storage. As of January 2022, the average fee to store 1 MB of data on the Arweave network for 1 year is approximately 0.45 AR, equivalent to around $2.50 USD based on the current exchange rate. These fees are subject to change based on network demand and the price of AR in the cryptocurrency markets.

AR Token Wallets

There are several wallets that support the AR token, including:

• Arweave Web Extension Wallet: The official Arweave web extension wallet that allows users to interact with Arweave apps and manage their AR tokens.
• Metamask: A popular Ethereum wallet that can be configured to support the AR token using the Arweave ERC-20 token contract.
• MathWallet: A multi-chain wallet that supports a wide range of cryptocurrencies, including the AR token for Arweave transactions.
• Trust Wallet: A mobile cryptocurrency wallet that enables users to store, send, and receive AR tokens on the Arweave network.
• ArConnect: An extension wallet that enables users to connect their Arweave account to dApps and interact with the Arweave network.