06/11/19 05:30 UTC-5

Blockchain for storing information on the network received $5 million

The Arweave project raised $5 million from investors who liked the idea of ​​permanently storing files on the network. Kyle Samani, a partner at Multicoin, shared information on Twitter.


is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
allow you to store files permanently

The blockchain project was financially supported by Andreessen Horowitz, Multicoin Capital, Techstars.

Investors were attracted by the idea of ​​a startup. Arweave blockchain users will be able to leave web pages, letters and messages on social networks using the browser extension. In October, users saved 45,000 items. The blockchain has 100 separate applications.

The project team guaranteed the development of a self-optimizing network. Improving performance will continue after the appearance of more miners. Storing content will be cheaper. The relevance of the project is explained by the increase in the amount of information. Analysts believe that in 2025 the amount of data will stop at around 160 zettabytes.

Interesting in the section: Blockchain technology can help poor people around the world

See also: "Coca-Cola shipments will be faster due to blockchain"

#blockchain #datastorage #Arweave #blockchaintechnology #Multicoin

Editor: Daria Mukhina