Arweave Price Tops $1.71 (AR)

Arweave (AR) traded 1% lower against the US dollar during the 24-hour period ending at 7:00 AM ET on July 31st. One Arweave coin can now be bought for approximately $1.71 or 0.00002679 BTC on exchanges. Arweave has a market capitalization of $112,110,749.24 trillion and $6.22 million worth of Arweave was traded on exchanges in the last 24 hours. Over the last week, Arweave has traded down 8% against the US dollar.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Bitcoin (BTC) traded 1.3% lower against the dollar and now trades at $63,791.95 or 1.00000000 BTC.
• Bitcoin Cash (BCH) traded down 1.7% against the dollar and now trades at $206.85 or 0.00324263 BTC.
• Bitcoin SV (BSV) traded up 0.8% against the dollar and now trades at $12.59 or 0.00019739 BTC.
• eCash (XEC) traded 9.6% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Syscoin (SYS) traded 8.6% higher against the dollar and now trades at $0.0017 or 0.00000003 BTC.

Arweave Profile

Arweave is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis 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 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. Arweave’s official website is www.arweave.org. The official message board for Arweave 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. Discord, Medium, Reddit, GitHubLightpaper”

Buying and Selling Arweave

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

AR/USD price chart by TradingView