Today, I will introduce a project that I prefer and optimistic-ARWEAVE, Arweave (later referred to as Avi) is a project in the field of decentralized storage. Compared with the FIL in the same sector, it is unknown. Fil is even more insignificant, but if you study this project in depth, you will find that the potential and goals of the Avi project are no less than even more than FIL. Therefore, this article will introduce Avi to everyone.
It is strongly recommended that Mr. Liu Yi wrote an in -depth investment research report on the Avi Agreement (https://www.chainnews.com/articles/124011762292.htm).
What is Awei?
Avi’s main storage concept is to achieve permanent storage. The mining mechanism adopted is the POC (Power of Capacity). The project was established in April 2017. The main network was launched in June 2018. The issued token AR issued is similar to Filecoin. The model is also a incentive application in the IPFS protocol. It is a new type of storage based on blockchain and cryptocurrency technology. AR’s vision is to solve the problem of centralization and system fragility in traditional Internet storage and systems. It has the characteristics of globalization, permanentness, low cost, and tampering.
Avi’s technology
After reading Avi’s yellow paper and introduction of various Chinese communities, I found that Avi is very different from many blockchain projects. Many of its technical feelings are the reconstruction of many popular blockchain projects. On its body, you can’t see the words expansion, cryptographic innovation, DEFI support, value capture and other words, but have established a set of technical systems around your own “permanent storage” concept: including application layer Permaweb (forever network), logic logic, logic Layer Smartweave and the storage layer Ardrive. After reading the yellow book, you even think that this is a full-stack web-3 protocol. The overall innovation and the system are even more magnificent than the Ethereum. The scarcity of tokens can even be compared with Bitcoin in the future.
Permanent storage
Let’s talk about what is “contract -based storage”? Filecoin’s economic model reflects the economic model of centralized cloud providers: contract -based storage. Contract -based storage can be easier to be considered a model of payable payment. The user pays a node network. The node stores the X -byte data of X bytes in the Y time period and ensures that the Z can be retrieved. STORJ, SIA, and SAFE use the same mode.
Unlike blockchain storage projects such as Fil and Storj, the main storage concept of Avi is permanent storage. Ordinary people were a little surprised for the first time. Can I really achieve a payment in this world? Because this is contrary to our intuitive thinking, but after strict mathematical computing, the future storage costs will decline, so you can pay for it once, permanent storage, and see the yellow book. The project party has been calculated rigorous. The most conservative situation, the storage period should be able to maintain 200 years, even in optimism, even 1600 years.
It should be noted that another fact that contrary to our intuitive thinking is that under the same GB content, Avi’s permanent storage cost is far less than FIL -based storage, although FIL’s storage time is shorter. This is because Avi’s permanent storage mechanism is easier and clever than the storage mechanism of FIL. In order to achieve decentralization and accurate contract storage, FIL is extremely complicated. In terms of storage, calculating these logic takes a lot of cost. Avi is actually a pierced path. Avi agreed to design the mechanism to encourage miners to save as much data as possible, and preferentially stored scarce data with less copies. As for how much each miner is saved and what is stored, it is a matter of the miners themselves, neither proves nor check. Avi’s “View Certificate” (POA) is a simple expansion of POW. Each round of POW puzzles is related to a past block (memory block). Only miners who have stored memory blocks are eligible to participate in POW quiz. Because the memory block is randomly determined, it cannot be predicted in advance. Therefore, the more blocks stored in miners, the greater the chance of participating in POW quiz, and the higher the possibility of getting a reward for blocking. If the miners’ storage space is limited and the history of the whole block cannot be preserved, he will preferentially preserve blocks with a small number of copies in the network. Because the probability of each block is equal to the memory block, when a scarce block is selected as a memory block, only a few miners are eligible to participate in the POW competition, so storing scarce blocks are more beneficial to miners. Therefore, the storage model of the Avi protocol is simpler, so it reduces a large amount of calculation process, and the cost is relatively cheap.
PERMAWEB (Yongzai.com)
Living in the world of web2.0, we browse a variety of web pages on the Internet every day, watch videos of different times, and experience the fun in the current blockchain world that is difficult to achieve, but One day we will suddenly pop up 404 when we browse the web, which means that the information of this webpage may disappear permanently, either removed from the centralized server, or it is filtered by a strong review mechanism, and forever on the Internet on the Internet The launch is to solve this data loss and anti -review mechanism. This is the homepage of Yong on the net. You can go in and see (https://bitsear.ch/). In fact, the Google index similar to the decentralized field, Arweave feels like it has completely opened the world of another blockchain, is The current Internet world’s mapping in blockchain technology.
Smartweave smart contract
Smartweave is similar to smart contracts in the Ethereum world, but Smartweave is different from the current mainstream blockchain smart contract technology. Smartweave smart contract is a program developed by JavaScript, which is stored on the Avi network, so it is invariant. Submitted to the network with the contract code, as well as the creation of the contract. Unlike the intelligent contracts of Ethereum (and other public chains), Smartweave is not performed by miner nodes, but the computer execution of the contract calling person is downloaded. The execution process is from the state of the contract of the contract, perform all the transactions in the history of contract history in the history of the contract, and finally execute the transaction of the contract caller. After the completion, the contract caller submits the input and execution contract status of his transaction to the Avi network to enter permanent storage. The subsequent contract calls repeat the above process.
The above process means that Smartweave can be verified through a node, because its calculation process is gradually executed from the first transaction of history to the latest state, so it is also a credible calculation result. The index level of the index will slow down, and the operation speed of smart contracts will slow down. In his article (the first section link), Teacher Liu Yi can mention that the execution results of the trusted nodes can be made in the next transaction to the next transaction. There is no need to start calculation through the first heavy head of history.
Economic model
Among them, the team locks for 5 years, releases 20%each year, retains for five years, and releases 20%each year. The current market value is about 1 million US dollars, but the specific circulation is unknown, and the team needs to consult the team. Arweave obtained $ 8.7 million through ICO in 2018, and received 5 million US dollars from A16Z, USV and Multicoin Capital in 19 years. In March 2020, A16Z, USV and Coinbase’s $ 8.3 million funds.
Review of the project
Compared with Filecoin’s 2 billion yuan in supply, AR’s permanent supply is 66 million, and the current circulation rate has reached 50%. When I was concerned about this project, the price was 4.7U, and it has reached 6.1U, diluted. The post -valuation was $ 400 million, and I think the project is still undervalued.
First, the scarcity of AR will gradually increase in the future. AR’s coin -coin mechanism is even more scarce than Bitcoin. There are only about 1.98 million left AR, and the mining rate is 3%. In contrast, there are currently about 2.55 million BTCs that have not been adopted, and the mining rate is 12%. In addition to scarcity, what are the functions of AR? As the tokens of the Avi Agreement, AR can be used as a payment currency for purchasing permanent storage space. At present, the AR ecosystem has launched a profit sharing tokens (PST). AR can also be used to exchange PST Token earnings.
The second is that in the blockchain project in the storage field, Awei is the only blockchain agreement that proposes the concept of permanent storage. It also has certain scarcity in conceptual and technical. In addition, the investors of the Avi Agreement are basically the top investment institutions in the currency circle. A16Z and USV have led investment and follow -up for two consecutive times, indicating that Avi’s technology, team and business model are recognized.