What is Arweave? Arweave is a web3 themed blockchain project that allows users to store their data indefinitely using cloud technology. In this article, you can find answers to frequently asked questions such as what is Arweave, what it offers, what is AR coin, how to get it, what is it used for. As Kriptokoin.com, we have compiled it for our curious readers.
What is Arweave?
Founded in July 2017, Arweave is a web3 themed blockchain project that allows users to store data indefinitely. The project works as a decentralized data storage network. The project aims to create a sustainable storage network based on blockchain technology. The network makes it possible to share data between individuals and to preserve the stored data for future generations. The network has a native cryptocurrency called AR coin.
The new protocol named block mesh developed by the project makes it possible to store data cheaply on the chain. In addition, the protocol increases the scalability of the network and allows users to archive data on websites indefinitely. The project has key partnerships such as Coinbase and the Internet Watch Foundation. In addition to data storage services, the network also appeals to developers. Software developers can develop decentralized applications (dApps) on the Arweave platform. To date, over 300 dApps have been created on the network. Besides, the network also has a decentralized exchange (DEX) called Verto. Through DEX, users can trade AR.
What is AR coin? What is it used for?
The native cryptocurrency of the Arweave network is AR coin. The maximum supply of AR is capped at 66 million units. The token has various use cases within the platform. Transaction fees paid for transacting on the network are paid in AR. Users pay transaction fees using altcoin AR to enjoy data storage, data purchase and dApps related services. In addition, miners who do not store and verify data on the network are rewarded with AR.
In addition, users can buy and sell altcoins on Verto, a DEX offered by the project. At the time of writing, AR coin was the 81st largest cryptocurrency project with a market capitalization of around $1.28 billion. 33.3 million ARs were in circulation, equivalent to 51% of the altcoin’s maximum supply.
How to get AR coin?
AR coin is listed on many major and reliable cryptocurrency exchanges. These exchanges include Binance, FTX, Kucoin, Bitget, and OKX. Investors interested in the Arweave project can become a member of one of these exchanges. Fully registered traders can purchase altcoins by depositing funds into their wallets.
