Arweave is a file storage network that enables users to store their data permanently on its decentralized platform. The network creates a marketplace for users with excess space and those who want permanent data storage. The platform enables data storage with a one-time fee and remains accessible over the long term. Arweave has its own native token called AR, which is used to pay for fees and reward storage space providers.

Arweave was founded by Sam Williams and William Jones in 2018.

• AR token: AR token, the platform’s native token, plays a significant role in the Arweave ecosystem. The token is used to pay for data storage within the platform, compensate network storage providers, and reward liquidity providers for securing the network.  

• Permanent data storage: Arweave allows a permanent data storage facility on its network, ensuring it is accessible forever.

• Low-cost storage: The permanent data storage offered by Arweave comes with a one-time fee, making it cost-efficient.

• Succinct Random Proof of Access (SPoRA): Arweave uses a Succinct Proof of Random Access (SPoRA) consensus mechanism which is more energy efficient.

AR crypto has had a remarkable journey in the crypto market since its inception. The token was launched in August 2020, and in just a few years, it has managed to rank among the top cryptos. As of September 2024, AR ranks #55 in overall crypto market cap and has a total market cap of $1,233,242,504. The all-time high price for AR is $90.94, recorded on November 05, 2021. 

Download the CoinSwitch app to invest in AR.

• AR can be bought and sold from crypto exchanges.

• AR token is used to pay for distributed data storage within the platform.

• It is used to compensate network storage providers and reward liquidity providers.

• AR can be exchanged and traded with other cryptocurrencies. 

• Arweave provides unlimited data storage. 

• Arweave provides services to major blockchains such as Solana, Arbitrum, Avalanche, Polygon, SushiSwap, Uniwap, and Yearn Finance. 

• The platform also charges a one-time fee for its data storage service.

• Although Arweave charges just a one-time fee, it could be expensive for some users.

• AR is subject to market volatility which may impact its price. 

• The concept of decentralized data storage provided by Arweave can be technically challenging for less experienced users.

• To trade in Arweave (AR), download the CoinSwitch app.

• You can start with as low as ₹100.

• Trade in cryptos like AR in a safe and secure environment provided by CoinSwitch.

When the Arweave mainnet launched in June 2018 1,800 participants were selected. Before this, the team held a limited token sale for whitelisted individuals. In 2019, Arweave raised $5 million from venture capital firms like Andreessen Horowitz and Union Square Ventures. In 2020, the Arweave team raised another $8.3 million in exchange for AR tokens which the team said would be spent to grow its community and boost the developer team building Arweave.