Amazon and Google keep your data on this crypto blockchain.
In the current situation, the crypto market is a bearish mood, and also lots of people search about web 3.0 so don’t miss this project. Amazon and Google operate as central authorities, storing your data in their cloud. If the servers fall down, the ability to retrieve the data goes down with them. The Chinese government can also manipulate and alter online data under their control. We’ve seen several cyberattacks in the past that resulted in the loss of valuable information, and then we’ve seen WikiLeaks publish those documents.
Is there currently a permanent decentralized solution on blockchain that can keep your data permanently?
Yes, sir, this is where I’ve been spending my time for the past week, trying to figure out which projects are succeeding in this sector, which has a great social media presence, solid collaborations, and a growing community.
Project Name: Arweave AR
Current Price:$42.57
Exchanges Available: Binance, Bittrex, Huobi Global
What is Arweave?
Arweave is software that seeks to store files permanently on a distributed computer network. On the blockchain, AR allows for indefinite data storage. In the crypto world, it is the most important data storage network. Because the data is part of the blockchain, it is designed to be utilized for *permanent* storage (aka “weave”). Other storage cryptos, on the other hand, are for *rental*. This has many uses, including storing the actual art that is connected to an NFT.
Aarweave cryptocurrency seeks to disrupt the market dominated by existing storage giants such as Google, Amazon, and Microsoft.
Arweave transactions have exploded in August. They reached 60 million requests per day. The graph is nuts. Check out the tweets of the Arweave Team on Twitter. Lots of facts in there.
How does AR work?
Arweave is not exactly a blockchain. Instead of a blockchain containing the trades and data type of most cryptocurrencies, Arweave stores its data in block graphs.
This means that each block connects to the previous two blocks in Arweave and creates a structure called “Blockweave”.
What is AR trying to solve?
AR stores data forever, this is a feature that none of the competitors offer. Currently, either you store the data using old USB or new cloud storage services but what long-term options do we have if we want to store the data for the next 20 years, 50 years, or 200 years? If you store your data with big companies like google, amazon, and Microsoft and forgot to make payment or update your credit card information, how long do you think these companies will hold your data? They will delete it instantly, however, this can never happen with AR :)
Funding from big names recently.
Arweave is gaining momentum as they have announced a major new funding round with Andreessen Horowitz, Coinbase Ventures and USV
My strategy of investment for Arweave?
I’m maintaining this project as a long-term investment since I believe it’s unique and has a lot of upside potential; if the price dips below this level, I’ll just dollar-cost average. When the project achieves $190, I intend to stop working on it.
Disclaimer
This content contains an opinion and is solely for informational reasons. It is not intended to be financial or investment advice. Seek investment/financial guidance from a properly licensed specialist. I have no affiliation with any of the companies whose coins are referenced in this article. Please always conduct thorough research prior to investing, as you are solely responsible for any capital-related decisions you make and the outcomes.
