Arweave (AR) is a decentralized storage network designed to provide permanent, tamper-proof data storage. It powers the "permaweb," a permanent, decentralized web that hosts various community-driven applications and platforms. Unlike traditional cloud storage, Arweave aims to create a collectively owned and maintained network where data is stored indefinitely. The network utilizes its native cryptocurrency, AR, to incentivize participants—referred to as "miners"—to store data over the long term. Initially introduced as Archain, the project later rebranded to Arweave before its official launch, emphasizing its focus on permanent data storage.

Arweave employs a unique data structure called "blockweave," a variation of blockchain technology, combined with a "proof-of-access" consensus mechanism. Unlike traditional proof-of-work, proof-of-access requires miners to verify a new block by referencing not only the previous block but also a randomly selected older block. This approach incentivizes miners to store as much historical data as possible to improve their chances of mining new blocks and earning AR tokens. Miners don’t need to store the entire blockchain but are rewarded for storing more data, ensuring long-term data availability across the network.

Arweave is primarily designed for permanent data storage, making it suitable for archiving important documents, websites, and digital assets. The permaweb, built on Arweave’s blockweave structure, enables the creation of decentralized applications that rely on immutable data storage. Developers can benefit from "profit-sharing tokens," which distribute a portion of transaction fees generated by their applications. This model incentivizes the development of permaweb-based apps, including social media platforms, content archives, and supply chain tracking tools. Arweave’s permanent storage capabilities also make it valuable for preserving historical records, academic research, and legal documents.

Arweave was founded by Sam Williams and William Jones, both Ph.D. candidates at the University of Kent. Williams had a background in decentralized and distributed systems, while Jones specialized in graph theory and neural networking. The concept for Arweave originated during a hike in Scotland, where Williams envisioned a permanent, decentralized data storage system. After refining the technical framework with Jones, Arweave was officially launched. Williams later became an advisor to Minespider, a blockchain-based supply chain company, and served as a mentor for Techstars. Arweave has since established a decentralized autonomous organization (DAO) composed of core community members to guide the network’s growth and development.

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The current market cap of Arweave is $346.52M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Arweave is $82.26. This all-time high is highest price paid for Arweave since it was launched.

Over the last 24 hours, the trading volume of Arweave is $25.44M.

Assets that have a similar market cap to Arweave include Virtuals Protocol, WEMIX, Chiliz, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Arweave is 66 million.