Arweave
Cryptocurrency
1 Year Change
↑11.32%
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Arweave (AR)

AR/ZAR: Convert Arweave (AR) to South African Rand (ZAR)

Arweave is a decentralised blockchain network that offers secure data storage and online hosting services. It uses a unique technology called "blockweave" to store data indefinitely, making it ideal for individuals and businesses looking for a digital vault to store documents, photos, and files forever with just a one-time payment.

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Arweave (AR) Price

AR Last Price
R5452.78
AR 1y Return
↑11.32%
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AR
ZAR
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Pricing data is provided by Altify and excludes fees. Visit our Pricing page for more information on all fees and charges.

Arweave (AR) Returns

As of December 12, 2023 11:00 PM GMT+2

24 hours

↑11.32%

1 month

↑11.32%

3 months

↑11.32%

6 months

↑11.32%

1 year

↑11.32%

Since Inception*

↑11.32%
* The Arweave (AR)  inception date was 22 November 2018.

About Arweave (AR)

What is Arweave (AR)?

Arweave is a software designed to store files permanently across a decentralised network of computers, with the vision of creating a lasting digital archive, much like a modern-day Library of Alexandria.

Similar to decentralised storage platforms like Filecoin and Sia, Arweave uses cryptocurrency to power a marketplace where users can buy and sell data storage. Its goal is to challenge industry leaders such as Google, Amazon, and Microsoft.

What sets Arweave apart is its unique approach to permanent data storage, supported by its AR cryptocurrency. This model allows data storage providers to potentially earn ongoing revenue, even after the initial payment for storage has been made.

Files stored on Arweave can be accessed through standard web browsers, eliminating the need for special wallets or blockchain services. The platform is also developing a voting system to help users moderate illicit content.

As of 2020, Arweave has partnered with the Internet Archive to store its data, aiming to protect this valuable information from tampering.

How Does Arweave (AR) Work?

Arweave isn’t a traditional blockchain. Unlike the typical design where data and transactions are stored in a linear chain of blocks, Arweave uses a graph structure called a “blockweave.” In this system, each block is connected to two previous blocks, forming a more complex web of data compared to Bitcoin, which links blocks sequentially in a chain.

Proof of Access Consensus

Arweave’s method for verifying transactions differs from the typical proof-of-work used by Bitcoin. Instead, Arweave employs a mechanism called "proof-of-access."

In this system, each participating computer must verify that a new set of transactions includes a randomly selected marker from a previous bundle. If the marker is present, the transactions are added to the network, and the computer responsible for adding the new data is rewarded with AR cryptocurrency.

This proof-of-access system ensures that new transactions are accurate and that past data remains unaltered.

Content Moderation

Arweave also allows anyone running the software to choose the type of data they wish to store. This process is known as content moderation. Put simply, computers on the network can decide what types of content they want to host. Network participants can choose to host specific types of content, such as audio files but not images, for instance.

There are incentives for storing more demanding types of data, as computers that do so can earn a larger share of transaction fees.

The History of Arweave (AR)

Arweave was initially launched as Archain in 2017 but rebranded in 2018 after being accepted into the Techstars startup accelerator program.

In 2019, Arweave secured $5 million in funding from prominent venture capital firms, including Andreessen Horowitz and Union Square Ventures.

By March 2020, Arweave raised an additional $8.3 million, with plans to use the funding to expand its community of users and developers building on the platform.

What Gives Arweave (AR) Value?

As AR is the currency of the Arweave network, users who wish to store data must buy AR to pay for distributed data storage, and computers on the network that provide storage services must accept payment in AR tokens. 

A key factor for investors is the limited supply of AR tokens, capped at 66 million. When Arweave launched in June 2018, 55 million AR tokens were created, with an additional 11 million scheduled for gradual release to storage providers over time.

Token Economy

Arweave’s payment model assumes that storage costs will decrease over time, allowing users to pay a one-time fee for permanent data storage. AR payments are collected from users and distributed to the computers providing storage services, but not immediately. Instead, these payments are pooled in a system called the Storage Endowment.

The Storage Endowment functions like a traditional endowment, aiming to generate returns from the capital invested in it. Over time, the pool of funds grows, similar to a bank account earning interest, allowing it to make ongoing payments to storage providers over many years.

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How to Buy Arweave (AR)

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AR markets

Explore popular AR trading pairs on Altify. You can swap AR for FIAT and stablecoins.

AR to USD
AR to GBP
AR to EUR
AR to ZAR
AR to USDC
AR to USDT
USD to AR
GBP to AR
EUR to AR
ZAR to AR
USDC to AR
USDT to AR

Crypto Risk Disclosure

High Volatility and Risk of Loss:

Investing in crypto assets involves significant risk, and may result in the loss of capital. Cryptocurrency markets are highly volatile and may experience sudden and substantial fluctuations in value. As such, there is a possibility that you may receive an amount less than your original investment or experience a complete loss of your initial investment's value.

Remember past performance doesn’t guarantee future results and we can’t guarantee returns since asset prices move based on supply and demand, so never trade with funds you can’t afford to lose.

Altify does not provide investment advice or recommendations. As an investor, you are responsible to make decisions regarding your investments. You should seek professional advice if you're uncertain about the suitability or appropriateness of any investment for your specific circumstances or needs.

Lack of Regulation and Protections:

While the cryptocurrency industry is gradually becoming more regulated, it remains largely unregulated. As a result, your holdings are not protected by any government-backed insurance scheme or financial services compensation scheme. In the event of a loss, theft, or cyber attack, there is no guarantee that you will be able to recover your funds.

Irreversibility of Transactions:

Crypto transactions are irreversible. Sending funds to an incorrect address or falling victim to fraudulent activities may result in the permanent loss of your assets. Ensure all transaction details are correct before proceeding.

Market Liquidity and Accessibility:

Under certain market conditions, it may be difficult or impossible to liquidate a position quickly at a reasonable price. The value of your crypto assets is driven by market demand, which can fluctuate and potentially result in a total loss of value.

Tax and Legal Considerations:

Investing in cryptocurrencies may result in tax liabilities. It is your responsibility to understand and comply with your local tax laws and regulations. Cryptocurrencies may also be subject to changes in legislation that could affect their use, value, and legality.

Further information can be found in the General Risk Disclosures and Crypto Risk Disclosures on our website. Investments should only be made by investors who understand these risks.