Thread by @Cov_duk

#Arweave 101: Decentralized, low cost data storage in perpetuity

Here's your everything guide to Arweave, the low cost data storage tech that all the VCs are betting on.

Don't sleep on it.

A thread 🧵👇

2. #Arweave is a tech that is aiming to store files permanently across a decentralized network.

Essentially, it is trying to built a digital archive that lives forever.

3. #Arweave is very scalable, processing over 5000 transactions per second and can store data at a fraction of the cost as other competitors.

Arweave is trying to disrupt the data market that is dominated by tech giants like Microsoft, Apple and Google.

4. #Arweave uses this unique technology called #Blockweave.

A blockchain is a linked collection of blocks containing transactions.

A blockweave is a set of blocks that contain data, linking to multiple previous blocks from the network.

5. The blockweave solves two main problems:

- On chain storage constraints
- Unsustainable consensus

6. New protocols are being built on existing infrastructure that is too expensive for data storage.

This means that onchain data can never be stored permanently with current tech.

As web3 grows exponentially, so will data.

7. There’s a huge need for low cost decentralized data storage where the data remains for ever

This is exactly what #Arweave is trying to do

For the past few decades, data and content has grown massively. Our ways of storing data have changed rapidly.

8. We went from floppy discs to CDs to semiconductors that can store huge amounts of data.

We’re predicted to create 160 zettabytes’ worth of data by 2025. Our speed of creating data, is far outpacing the speed of storing data.

9. #Arweave, through blockweave, is enabling the on chain storage of data in a low cost, scalable manner.

As the amount of data stored in the system increases, the amount of hashing needed for consensus decreases, thus reducing the cost to store data.

10. Through this mechanism, Arweave is able to greatly increase TPS and reduce cost of storage

#Arweave uses a novel Proof of Access (PoA) consensus mechanism.

11. Instead of competing to burn as much power as possible (as in PoW), miners in PoA compete to replicate the data held in the system as many times as they can.

As blockweave becomes larger, less power is needed. Big.

12. Wildfire is the Arweave’s self-organizing network topology system that ensures that miners are incentivized to store and share data as quickly as possible with other miners in the network, in order to build a positive reputation.

13. Essentially, they are incentivized to share data with each other continuously and promptly.

Using their native token $AR, Arweave rewards people who store data with revenue.

14. The Uses cases of Arweave are endless. In the past decades, data has become king.

One of the biggest things that has lead to FAANG’s monopoly is data. Everyone wants data.

15. Currently, in our decentralized realm, permanent, low cost, on chain data storage is lacking.

But, this is the future.

#Arweave is trying to solve this exact problem. The use cases of these are endless.

16. All files can be stored with a single fee, instead of recurring payments.

Data becomes immutable, censor resistant and verifiable.

Using $AR can be cheaper than competitors like AWS. It has 100% uptime and near instant availability.

This is huge.

17. With #Arweave, content can be uploaded anonymously and shared with just about anyone.

Any data can be uploaded by anyone and cannot be taken down ever.

18. #Arweave allows for decentralized data collaboration by creating an immutable, decentralized database.

Scientists from all over the globe can work with each other seamlessly and everything is available to everyone.

Goodbye expensive ass science journal publications.

19. Arweave has already built a partnership with Charité, the largest university hospital in Germany, to develop a new scientific journal.

Boom big brain science go brr.

#Arweave enables every single piece of content to be timestamped, verified, with a clear IP claim.

20. Further, files stored on #Arweave are accessible through traditional web browsers, meaning they don’t require any special wallet or blockchain service, which is huge.

This opens the Arweave doors to just about anyone, crypto native or not.

21. I’ve become very excited about #Arweave.

Data is king and will always stay king.

We’ve seen so many instances of data breaches, malicious attacks, the sale of private data without consent from the centralized mega corps.

22. #Arweave is making all that go away.

Arweave’s tech is very interesting and they are very well positioned to disrupt the data world.

23. They’re backed by huge VCs like @a16z and $AR is one of the most commonly held assets by crypto funds in Q3 of 2021.

Institutions have an unfair advantage when it comes to knowledge and info. It’s worth paying attention to where they’re putting their money.

24. The potential for #Arweave is massive. Remember Pied Piper from Silicon Valley? Think that but in real life.

The potential is massive and you want to keep your eyes on them. Don't sleep on it

25. Accounts to follow for #Arweave insights:
@ArweaveTeam @ArweaveNews @ArweaveMemes @onlyarweave @ARweaveDAO @samecwilliams @turfnft @ArweaveW @ArweaveNewsCN @DCA_Cryptoz @TradinginTime @javonnnm @lysergin33 @CryptoNostra @CryptoEliteNews

RT would mean a lot!

26. I hope that was insightful, a retweet would mean a lot. I regularly post 101s and breakdowns, follow to keep up.

Here are my past 101s: notion.so/covduk/4798517…