NEW ICO in town! ARWEAVE . a new scalable on chain storage.

WHAT IS ARWEAVE?
Arweave is a new blockchain like structure called the block-weave. The blockweave is a platform designed to provide scalable on-chain storage in a cost-efficient manner based on a novel proof of access consensus mechanism that creates permanent data storage, low-cost, and censorship free.

WHAT IS THE USE CASE?
Permanent storage has several use cases. Specifically, regulations requiring the archiving of documents up to a certain number of years. Provable media reporting, academic
research and immutable records are becoming increasingly important in our modern world
of echo chambers and proliferation of fake news.

WHAT IS THE UNDERLYING TECHNOLOGY?

1. Blockweave
   Two new concepts that allow nodes to fulfil key network functions without possessing the whole chain.
   The block hash list, a list of the hashes of all previous blocks which allows old blocks to be verified, and potential new blocks evaluated effectively.
   The wallet list, a list of all active wallets in the system which allows transactions to be verified without possessing the block in which the last transaction was used.

2. Proof of Access
   Arweaves consensus mechanism is based on proof of access (PoA) and proof of work
   (PoW). Combined with the blockweave data structure, miners can store any previous blocks,
   forming a weave of blocks, a blockweave also known as ‘recall block’.When a miner finds
   an appropriate hash,they distribute the new block along with the recall block to other members
   of the network.even those without their own copy of the recall block, to independently verify that
   the new block is valid.

3. Wildfire
   a system that solves the problem of data sharing in a decentralised network by creating a
   ranking system local to each node that determines how quickly new blocks and transactions
   are distributed to peers, based on how quickly they respond to requests and accept data
   from others. ensures high speed distribution of new blocks and keeps data available with
   short latency.

4. Blockshadows
   Minimises waste of data and enables fast block consensus and massive transaction throughput
   by blockshadows technology contra to traditional blockchain system, when a new block is mined,
   each entire block is distributed to every node in the network which is create waste of data and
   slow down the network rate.These blockshadows contain a hash of the wallet list and hash list, and
   in place of the transactions inside a block, only contain a list of transaction hashes.

5. Blacklisting system.
   Arweave software provides blacklisting system where each node maintains an (optional) blacklist containing, for example, the hashes or substrings of certain data that it doesn’t wish to ever store, and will never write to disk content that matches this. These blacklists can be built by individuals or collaboratively, or can be imported from other sources.

More info on :
Website: https://www.arweave.org
Twitter: https://twitter.com/arweaveteam
Medium: https://medium.com/@arweave