Arweave
Crypto Overview
Purpose and Utility
Arweave is a decentralized storage protocol designed to enable permanent data storage. Unlike traditional cloud storage services, Arweave's unique 'permaweb' technology aims to store data indefinitely through a novel blockchain-like structure called a 'blockweave.' The native AR token is used to pay for storage space and incentivize network participants who maintain stored data.
Business Model Evaluation
The protocol's core business model revolves around providing permanent data storage services. Users pay one-time fees in AR tokens to store data permanently, and these fees are distributed to network participants who maintain copies of the data. This model appears transparent and doesn't involve any prohibited activities like interest-bearing loans or gambling.
Real-World Adoption
Arweave has gained significant adoption, particularly in the Web3 ecosystem. Major projects including Solana, Polygon, and various NFT platforms use Arweave for permanent data storage. The network currently stores hundreds of terabytes of data, with steady growth in storage usage and transactions.
Development Activity
The project maintains active development with regular protocol updates and improvements. The ecosystem includes numerous applications built on top of the storage layer, including social media platforms, permanent web hosting services, and data archival tools.
Token Distribution and Governance
The initial token distribution included allocations to team members and early investors with standard vesting schedules. The majority of tokens are circulating in the market, and the team has demonstrated consistent development rather than focusing primarily on token price promotion.
Crypto Impact
To assign a comfort level investing in Arweave from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Arweave.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.