Arweave (AR) Price Reaches $2.59 on Exchanges

Arweave (AR) traded 7.4% lower against the US dollar during the twenty-four hour period ending at 7:00 AM Eastern on February 1st. Arweave has a total market cap of $169,936,724.39 trillion and approximately $45.24 million worth of Arweave was traded on exchanges in the last day. One Arweave coin can now be bought for approximately $2.59 or 0.00003293 BTC on exchanges. In the last week, Arweave has traded 26% lower against the US dollar.

Here’s how similar cryptocurrencies have performed in the last day:

• Bitcoin (BTC) traded down 5.1% against the dollar and now trades at $78,678.58 or 1.00000000 BTC.
• Bitcoin Cash (BCH) traded down 0.3% against the dollar and now trades at $532.67 or 0.00677022 BTC.
• Bitcoin SV (BSV) traded 6.4% lower against the dollar and now trades at $15.61 or 0.00019841 BTC.
• eCash (XEC) traded down 3.8% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Syscoin (SYS) traded 3.5% lower against the dollar and now trades at $0.0161 or 0.00000020 BTC.

About Arweave

Arweave (AR) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on 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 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. The official website for Arweave is www.arweave.org. Arweave’s official message board is medium.com/@arweave.

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.”

Buying and Selling Arweave

It is usually not currently possible to buy alternative cryptocurrencies such as Arweave directly using US dollars. Investors seeking to trade Arweave should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. 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