Arweaves AR token hits 18-month high amid rapid growth and innovation
Decentralized storage platform Arweaves AR token jumped to an 18-month high amid several developments within the blockchain networks ecosystem.
Data from CryptoSlate show that ARs value rose to $14.68 after it soared by around 20% during the past day. This continued a run that has seen it gain over 65% during the past seven days, making it the fourth-largest filesharing blockchain network with a market capitalization of $936 million.
Arweave provides storage for any type of file, including web pages, gaming data, and images, permanently and sustainably with a single upfront payment. Viewblock data shows that 76.15 pebibytes, or 85.7 million gigabytes worth of data, have been stored on the filesharing blockchain as of press time.
Arweaves ecosystem growth
Arweaves recent surge in price correlates with pivotal advancements within its ecosystem.
Co-founder Sam Williams unveiled plans for a hyper-parallel computer set to revolutionize the filesharing network. The projects testnet is live, promising substantial boosts in computational capabilities upon launch, alongside temporary storage solutions for users.
Arweave has been building something incredible: A hyperparallel computer living inside Arweave. PoS computation that lets any number of processes execute in parallel. Oh, and it offers temporary storage, Williams said.
Besides that, Arweave recently celebrated a significant milestone, surpassing three billion transactions on Feb. 14. While it took the network 1,868 days to achieve its first billion transactions, recent progress has been remarkable, with the network processing two billion transactions in 153 days and reaching three billion in just 55 days.
Such accelerated growth reflects Arweaves unique value proposition in blockchain and data storage. The network offer of zero fees on top of base storage costs has been pivotal in its widespread adoption.
Williams indicated further growth potential, noting that it was not quite running at the highest sustained throughput for a public blockchain, but it is getting very close.
Arweave just wont stop scaling. Because it bundles storage payments and service provision, there simply are no applicable limits, he added.
The post Arweaves AR token hits 18-month high amid rapid growth and innovation appeared first on CryptoSlate.
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Text source: CryptoSlate
