Arweave (AR) Hits Self Reported Market Cap of $118,147,291.58 trillion

Arweave (AR) traded 0.2% higher against the US dollar during the one day period ending at 7:00 AM ET on August 8th. Arweave has a total market cap of $118,147,291.58 trillion and $2.96 million worth of Arweave was traded on exchanges in the last 24 hours. One Arweave coin can now be bought for $1.80 or 0.00002772 BTC on exchanges. During the last week, Arweave has traded 3.9% higher against the US dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded 0.1% higher against the dollar and now trades at $64,970.65 or 1.00000000 BTC.
• Bitcoin Cash (BCH) traded up 0.3% against the dollar and now trades at $216.62 or 0.00333416 BTC.
• Bitcoin SV (BSV) traded up 4.2% against the dollar and now trades at $14.07 or 0.00021653 BTC.
• eCash (XEC) traded 2.3% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Syscoin (SYS) traded 32.1% higher against the dollar and now trades at $0.0024 or 0.00000004 BTC.

Arweave Profile

AR is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its launch date was July 13th, 2018. Arweave’s total supply is 65,652,466 coins and its circulating supply is 9,223,372,036,854,775,807 coins. The official message board for Arweave is medium.com/@arweave. Arweave’s official website is www.arweave.org. The Reddit community for Arweave is https://reddit.com/r/arweave and the currency’s Github account can be viewed here. Arweave’s official Twitter account is @arweaveeco and its Facebook page is accessible here.

According to CryptoCompare, “Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralized web with a number of community-driven applications and platforms. The Arweave network uses a native cryptocurrency, AR, to pay “miners” to indefinitely store the network’s information. The project was first announced as Archain in August 2017, later rebranding to Arweave in February 2018 and officially launching in June 2018. The core technology that powers the Arweave is the blockweave. Just as a blockchain is a linked collection of blocks containing transactions, a blockweave — specifically designed for the Arweave protocol — is a set of blocks that contain data, linking to multiple previous blocks from the network. This data structure allows the network to an enforce that miners provide a ‘Proof of Access’ (PoA) to old data in order to add new blocks. Unlike in a traditional blockchain, where miners are forced to expend electricity in order to earn tokens, in the Arweave network miners are also encouraged to replicate valuable data (the information stored in the network) in order to gain tokens. This mechanism offsets the value that is normally wasted in blockchain networks, with useful, energy efficient storage of data. Discord, Medium, Reddit, GitHubLightpaper”

Buying and Selling Arweave

It is usually not presently possible to buy alternative cryptocurrencies such as Arweave directly using U.S. dollars. Investors seeking to trade Arweave should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Arweave using one of the aforementioned exchanges.

AR/USD price chart by TradingView