DGAP-News Advanced Blockchain AG Has Made an Investment in Arweave
DGAP-News: Advanced Blockchain AG / Key word(s): Acquisition/Cryptocurrency / Blockchain
Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) has invested in Arweave, a permanent data storage solution.
The Arweave network (https://www.arweave.org/) enables permanent data storage to be sustainable, facilitated by its innovative technical infrastructure. Arweave enables the permanent storage of images, websites, and all other features of the internet, creating what it terms the "permaweb". It does so by connecting individuals with spare disk storage space with those needing permanent data storage. This is executed in a highly secured and fully decentralized manner, financially rewarding those providing storage space without the use of a middleman. Data is then permanently stored across hundreds of devices, making them impervious to damages by natural forces or malicious intent.
Similar to a blockchain, the core technology powering Arweave is the protocol's innovation of the blockweave. The blockweave is a set of data-containing linked blocks like that of a blockchain, with an additional functionality: the infrastructure to allow for ensuring miners provide a "Proof of Access" (PoA) to old data in order to add new blocks to the weave. Also unique to the blockweave is the incentivization of storing valuable data (the information stored permanently in the network) in order to be rewarded with tokens. Thus, while the average blockchain incurs a cost for data storage, the blockweave provides a value for it.
The end result is a permanent data solution backed by sustainable and transparent economics. Users seeking storage pay a one-time principle upfront, on which interest (in the form of storage purchasing power) is generated. This principle is turned over to those providing storage as a reward for offering up storage space. Using this simple model and conservative estimates for storage pricing, Arweave is posed to ensure long-term network viability.
Arweave has recently been featured in and formed partnerships with well-recognized organizations, lending credibility to Arweave, demonstrating the widespread need for their product offering; The protocol has been featured in the World Economic Forum's crypto reports, the New York Times, and other publications. Furthermore, the protocol has collaborated with Parity Technologies (creators of the Polkadot blockchain and ecosystem), where it will function to store the Polkadot parachain data. Additionally, other prominent investors in Arweave include Andreessen Horowitz, Union Square Ventures and Coinbase Ventures.
Advanced Blockchain's investment into Arweave adds to its portfolio of innovative blockchain-related projects, while also helping the company to promote creativity and growth in the overall blockchain industry.
Additional information on Advanced Blockchain AG and its other projects and investments can be found at www.advancedblockchain.com.
22.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Advanced Blockchain AG|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1169898|
|End of News||DGAP News Service|
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