What if you could pay now to store something online permanently? You could preserve a website against censorship, save legal contracts, or offer an app even after your company fails. That’s the promise of Arweave‘s Permaweb. The startup has built a new type of blockchain that relies on Moore’s Law-style declining data storage costs. Users pay a few hundred dollars upfront (about half a cent per megabyte), and the interest accrued by the excess payment will perpetually cover the costs of shrinking storage prices. The Permaweb quietly launched last June. Over 100 permanent apps have been built on Arweave’s infrastructure including an email client in the last six months, while 50,000 objects were stored on the Permaweb in October alone. As long as some node operators keep hosting the data on unused hard drive space, they keep getting paid, and the sites, apps, or files remain available. Instead of needing some special blockchain browser to access what’s stored, the Permaweb can be accessed through traditional web browsers and URLs. Arweave founder Sam Williams The potential of the Permaweb has attracted $5 million in funding led by Andreessen Horowitz’s a16z Crypto, and joined by other top blockchain investors Union Square Ventures… Read full this story
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