Footprint Analytics: An introduction to blockchain storage platform Arweave
Jan. 2022, Sabrina@footprint.network
Data Source:Arweave Dashboard
Arweave is a decentralized cloud storage solution that aims to use blockchain to disrupt the traditional storage market. Different from other cloud storage solutions, Arweave not only has the security advantages of decentralized storage, users can also choose to pay once to obtain permanent storage services.
If it succeeds, Arweave could become a top chain in the Web 3.0 world. In this post, we will explain what the goal of Arweave is. To learn more about blockchain cloud storage and the long-term potential of the project, you can read this more in-depth article here Can Arweave reshape on-chain storage?》。
Arwearve basic introduction
The goal of Arweave is to create a system that allows users to pay a one-time fee to store their data forever. To do this, it created storage donations to ensure permanent storage on the network. When a piece of data is written to the Arweave network, users pay an upfront fee and generate interest in the form of stored purchasing power.
Arweave has also developed a REST API to develop various file storage applications, thus creating its ecosystem.
Arweave's Innovations
Innovation in business model
Filecoin is similar to the business model on traditional centralized cloud services. It establishes contracts between users and storage providers, and pays as you go. Its competition with centralized cloud service providers is mainly price. Arweave solves the problem of long-term data storage. The business model of one-time payment and permanent storage allows Arweave to avoid the price war with traditional cloud storage service providers.
Innovations in the Upper Network
Arweave's upper network, Permaweb, is the operating network of Arweave's ecological DApp. It provides developers with high flexibility and makes the development of DApp easier. Developers only need to use a common API based on the storage-based consensus paradigm to develop without being restricted by any programming language.
Innovation of Community Incentive Model
Using the Blockweave data structure, miners only need to store some historical blocks to start mining immediately, lowering the mining threshold.
The donation pool incentivizes miners to store data for a long time.
The benefit-sharing community allows developers to share benefits.
Innovations in Data Storage Integrity
Innovatively combine the front-end page and the smart contract into one, so that the front-end data and contract data are integrated as a whole.
The innovative Atomic NFT new standard allows the casting of NFT and the storage of content as a whole to be stored on the chain.
Arwearve node distribution
Arwearve currently has more than 1,200 nodes around the world, among which China has the largest number of nodes.
Arweave Business Performance
The ecology related to Arweave will develop rapidly in 2021.storage data capacityIt's close to 40 TB.
Arweave Gatewaydata usageThe overall situation is rising month-on-month, with occasional large-scale data usage being prominent and noticeable.
In-depth cooperation with Solana
Arweave and Solana have jointly launched the SOLAR Bridge, which will be officially put into use in 2021. SOLAR Bridge is tailor-made to enable Solana to store data on Arweave's permanent network. This creates a decentralized, easily accessible and publicly available storage solution that can handle massive scalability.
It is estimated that Solana generates as much as 4 petabytes (or 4,096 terabytes) of data per year. Additionally, Arweave is paving the way for decentralized storage options that are interoperable with other blockchains in the industry.
As Solana's official storage solution, Arweave has a price very similar to that of Solana tokens.
Footprint Analytics - Token Price YoY Growth Trend: AR vs. SOL vs. BTC
Arweave token performance
token pricetoken priceimage description
Footprint Analytics - AR Token Price Peaked at $84.64 in 2021
Arweave Storage Prices
To store files on Arweave, developers create a transaction that pays a certain amount of AR tokens as a network fee (currently $0.005/MB) to store data permanently. Amazon S3's low-end tier costs $0.000023/MB per month. This means that it will take 18 years for each Arweave user to break even. Clearly, users of Arweave clearly pay a premium for permanent storage.
Summarize
Summarize
Arweave is the storage infrastructure of Web 3.0. It is a decentralized cloud storage solution that solves the problem of permanent storage of data over time. Its network and application architecture supports the integration of development and data storage, creating a blockchain-native data solution.
About Footprint Analytics
This work is original by the author, please indicate the source for reprinting. Commercial reprinting needs to be authorized by the author, and those who reprint, extract or use other methods without authorization will be investigated for relevant legal responsibilities.
Footprint Website: https://www.footprint.network
Discord: https://discord.gg/3HYaR6USM7
Twitter: https://twitter.com/Footprint_DeFi
Telegram: https://t.me/joinchat/4-ocuURAr2thODFh
The above content is only a personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious understanding or data errors, feedback is welcome.
Copyright Notice:
This work is original by the author, please indicate the source for reprinting. Commercial reprinting needs to be authorized by the author, and those who reprint, extract or use other methods without authorization will be investigated for relevant legal responsibilities.
