Arweave project review

About the project

Arweave is a fundamentally new protocol for storing data for the crypto-currency transactions market and the possibility of long-term and safe storage of data on an ongoing basis. Arweave is mainly used for mining. This is an already existing technological product. In fact, Arweave was originally based on the blockchain technology. Cloud data stores are built on the storage of information based on the protocol Blockweave.

How it works

The principal novelty of Arweave is that traditional Blockweave provides inexpensive and reliable data storage, but does not provide scalability - data processing speed to 5 thousand transactions per second. Arweave solves this problem and will achieve this high data processing speed. It is worth noting that the storage of data in Arweave will be cheaper than in the same Storj, Filecoin and Siacoin. This is an important factor, considering the modern volumes required by the miners for data storage and transaction processing speed.

Arweave provides hashes for all previous blocks. Allows you to check them without wasting extra time, and also eliminates the need to process all the blocks in the circuit completely. An important factor is also the possibility of forming Arweave lists of active system wallets. It is this function that will allow users to carry out transactions at the appropriate level of speed, security. In addition, the system will not require the presence of the last block.

The entire Arweave system fully synchronizes the network, which allows the miners to actively use the Arweave system for mining. This is perhaps the most important function of this system. Miners without delays can connect to Arweave and absolutely instantly start mining processes for the production of crypto currency.

Agree, good components for the beginning of mining - the presence of high speed to 5 thousand transactions per second, the synchronization of the network, no need to use the last unit where the transaction was conducted.

Prospects

Arweave in the test order began work in November 2017. In June 2018, the full-scale launch of this mining project is planned. Arweave has already completed the preparation of its project for mining, which fully allows you to guarantee the success of the upcoming ICO. Arweave is not virtual, but already quite a real product, which is suitable and can be used for mining. The project management regularly describes their ideas and innovations, which are embodied in Arweave.

Of course, there are enough Arweave-like protocols, competition is great. The team of this product has done a huge technical and organizational work, carried out the primary promotion. The functionality and capabilities of Arweave should fully meet the requirements of the miners and, in our opinion, significantly exceed other competitive protocols - such resources. A really complicated engineering, technical task of blockchain technologies was solved.

The site Arweave contains real positive feedback from miners and analysts who have already used this resource. This all increases the level of confidence in this project.

ICO and tokens

At the moment Arweave starts the implementation of the ICO. Literally in the coming days, sales of the internal token will start. The total issue of tokens will amount to $ 8.7 million. The sale will receive 38.5% of tokens. The purchased tokens will not be frozen during the ICO process, and can almost immediately begin to be used for crypto-exchange operations.

Team and partners

In the Arweave head specialists - who are recent graduates of the leading UK educational institutions. Among the founders of Arweave are - Sam Williams, William Jones, India Reybold. The team has a large number of specialists, mainly from the United Kingdom. Based on the posted information and the fact that Arweave already exists as a real product - this is a highly professional team.

Arweave partners include - Techstars, 1 KX, Upvest, NorthBlock, ShelF, The Journal of Raw Data.