In both the 69 thesis of @redphonecrypto and the mirror post about music NFTs by @web3brett the name #Arweave dropped.
I did a deep dive into the project of @ArweaveTeam, which goes by the slogan "pay once, store forever".
Enjoy this hard earned tl;dr 🧵⬇️
I did a deep dive into the project of @ArweaveTeam, which goes by the slogan "pay once, store forever".
Enjoy this hard earned tl;dr 🧵⬇️
- Arweave is a blockchain
- It's meant to store data forever. Yes, forever.
- The idea is to pay once for storing the data on the blockchain, and then never again to access the data.
- Yellow paper: arweave.org/yellow-paper.p…
- It's meant to store data forever. Yes, forever.
- The idea is to pay once for storing the data on the blockchain, and then never again to access the data.
- Yellow paper: arweave.org/yellow-paper.p…
How does it work to pay upfront to have storage forever?
- Over the years, the cost for storage continuously decreased:
"Over the past 50 years, the average annual rate of decline of GBh (Gigabyte per hour) cost has been 30.57%"
arwiki.wiki/#/en/storage-e…
- Over the years, the cost for storage continuously decreased:
"Over the past 50 years, the average annual rate of decline of GBh (Gigabyte per hour) cost has been 30.57%"
arwiki.wiki/#/en/storage-e…
- While CPUs are reaching max physical limitations, data density limitations probably won't be reached in the next 100 years
- I didn't look to deeply into the formulas, but I think of it in this way:
If you keep halving a unit, you'll never reach the full unit.
- I didn't look to deeply into the formulas, but I think of it in this way:
If you keep halving a unit, you'll never reach the full unit.
In the same way we can calculate how much it should cost to store data indefinitely.
- At current prices, data storage costs:
1 MB ~ 0.01 $
1 GB ~ 11 $
1 TB ~ 11k $
arweavefees.com
- At current prices, data storage costs:
1 MB ~ 0.01 $
1 GB ~ 11 $
1 TB ~ 11k $
arweavefees.com
- Underlying consensus is Proof of Access (PoA), an extension of PoW.
In normal PoW, the current block contents, the previous block hash and a nonce have to be hashed to find the valid hash (solve the puzzle).
In PoA, there's in addition the notion of a "recall block".
In normal PoW, the current block contents, the previous block hash and a nonce have to be hashed to find the valid hash (solve the puzzle).
In PoA, there's in addition the notion of a "recall block".
- Each new block points not only to the previous block, but also to a pseudorandomly generated second block (based on previous block height and hash)
- To mine a new block, the miner also has to add the contents of the recall block to the hash function.
- To mine a new block, the miner also has to add the contents of the recall block to the hash function.
- Mine a new block: find correct hash from current blocks contents, recall block contents, previous block hash and nonce
- This means that only miners who know the contents of the recall block can mine a new block
-> Miners are incentiviced to store many historic blocks, genius
- This means that only miners who know the contents of the recall block can mine a new block
-> Miners are incentiviced to store many historic blocks, genius
- Proof of Access == having access to historic blocks.
- PoA makes sure that miners keep data forever, even if it isn't accessed often.
- But miners don't have to store all data. E.g. if they are afraid of hosting WikiLeaks data, they don't have to.
-> Opens q of cencorship
- PoA makes sure that miners keep data forever, even if it isn't accessed often.
- But miners don't have to store all data. E.g. if they are afraid of hosting WikiLeaks data, they don't have to.
-> Opens q of cencorship
- Currently there are around 900 synced nodes
- Unfortunately 80% are in China, not very decentralized
chronobot.io/arweave/
- Unfortunately 80% are in China, not very decentralized
chronobot.io/arweave/
- You can interact with Arweave via Ardrive ardrive.io
- Smart contracts can also be deployed somehow, altough I didn't properly look into it
- As discussed in a previous tl;dr, mirror.xyz stores all posts on Arweave
- Smart contracts can also be deployed somehow, altough I didn't properly look into it
- As discussed in a previous tl;dr, mirror.xyz stores all posts on Arweave
- Great paper that compares decentralized storage solutions like Filecoin, BitTorrent and Arweave
arxiv.org/pdf/2102.12737…
arxiv.org/pdf/2102.12737…
- Now you know enough!
Go host your frontend code and application data on Arweave, or use it as a Dropbox alternative!
Follow me for more threads on web3, correct me if I'm wrong, and... stay stable
Go host your frontend code and application data on Arweave, or use it as a Dropbox alternative!
Follow me for more threads on web3, correct me if I'm wrong, and... stay stable
• • •
Missing some Tweet in this thread? You can try to
force a refresh
