Introduction to Arweave

Anil333

"Different from what we typically understand about storage-focused public blockchains, Arweave possesses unlimited scalability and the ability to interface with any public blockchain, DeFi, NFT, and other applications. Generally speaking, Arweave is a Layer 1 public blockchain that still adheres to PoW (Proof of Work) consensus and operates in a decentralized manner within the mainstream public blockchains.

SCP Ventures will briefly review the uniqueness of Arweave, with the following mechanisms forming the primary technical components of Arweave:

1. SPoRA (Succinct Proof of Random Access): Storage service providers participating in the Arweave mining process not only need to access common predecessor and successor blocks but also random recall blocks to ensure multiple backups of network data. Under the current mechanism, any data is stored in at least nearly 1,000 copies.

2. SmartWeave: This is Arweave's version of smart contracts. Unlike Ethereum's ""off-chain storage + on-chain computation"" mechanism, Arweave adopts the design concept of Lazy Evaluation, which can be understood as the reverse of Ethereum – ""off-chain computation + off-chain storage."" Therefore, Arweave has the strongest data availability and unlimited scalability among current public blockchains.

3. Permanent Storage: Arweave has no inflation mechanism. When users pay storage fees using $AR, a portion of the funds enters the Endowment, which employs a linear release mechanism to subsidize storage service providers. Consequently, data on Arweave can be stored for at least 200 years.

4. Permaweb: Arweave's use case goes beyond static storage; it supports the construction of dynamic applications. Permaweb consists of three layers: the application layer, service layer, and storage layer, offering backend permanent storage and immutability while allowing users at the frontend to overwrite data to support complex business requirements.

In summary, Arweave's architecture is oriented towards permanent storage, but it is by no means a mere personal cloud drive or static database. Instead, it is network infrastructure capable of supporting large-scale user adoption. Recognizing this fundamental difference may take time among users.

However, regardless, Arweave's ecosystem development is already underway, and SCP Ventures will provide a detailed introduction to its components and ecosystem progress in the following sections of this report."