Blockchain Startup Arweave, a Permanent Storage Solution Provider, Reports Handling Over 1 Million Transactions in March 2021

Arweave, which aims to offer a “novel” data storage blockchain protocol enabling “a permanent serverless web and creating truly permanent data storage for the first time,” has released its Q1 2021 Ecosystem Update, titled, NFTs, The Guardian, a new web wallet, new gateway (& much more).

Arweave developers claim that this quarter has been “astronomically” busy for the entire Arweave ecosystem. In March 2021, the network reportedly handled more than 1 million transactions, and the storage endowment “grew to over $550,000.”

As mentioned in an update from Arweave:

“The latest incubator program, the Open Web Foundry, came to a close last week with over 500 participants. Plus, we have a raft of fantastic updates to share from the vibrant network of founders, including: Arweave’s unique offering for NFTs …, the creation of atomic NFTs, ArConnect — a new MetaMask-style AR web wallet from the Verto team, and much, much more.”

While commenting on its Profit Sharing Community Updates, the Arweave team revealed the following:

  • The Verto.Exchange team: Leading profit-sharing token exchange
    • Launch of ArConnect, “a simple and secure wallet management tool, including an ‘allowances’ feature providing a sleek, efficient web wallet experience.”
    • Introduction of an Ethereum<>AR bridge on Verto.Exchange
    • Launch of Verto Space, “an application to browse and trade NFTs with built-in attention rewards powered by the Koi protocol.”
    • Completion of Verto’s pre-seed fundraising round. Congratulations to the team!
    • Introduction of $QUAD.vision, “a social network protocol focused on encouraging and growing meaningful social interactions on the permaweb. Learn how and why this was created from Verto Founder Tate Berenbaum.
    • $QUAD.vision “also provides a mechanism for community votes to indicate which version of a permaweb Dapp a domain should point to.”
  • community.XYZ: The profit sharing communities hub
    • Over 70 profit sharing communities, and over 1000 atomic NFTs now call cXYZ home!
    • Radical improvements in loading speed and UX,including significantly reduced fees and increased usability and transparency.”
  • ArDrive: “Offering permanent, immutable file storage”
    • Launch of ArDrive web version 1.0.1, including mobile support
    • Release and approval of the first ArDrive Community Improvement Proposal
    • Team size growing to 10 full-time and part-time core ArDrivers
    • Collaboration and integration with Mask Network
    • Cited in the World Economic Forum Best Blockchain Use Cases 2020
    • Formed a partnership with 247rack.com to host ArDrive gateway and node servers
  • ArVerify: The ‘blue tick for the permaweb’
    • Launch of the ArVerify tool, providing a ‘blue tick for the permaweb’
    • An explosion of activity post-launch of ArVerify,leading to over 5,500 verifications so far”
    • Over $15k in profits distributed automatically “to holders of ArVerify’s profit sharing token so far this year:
    • Implementation of ArVerify “with the ArConnect wallet from the Verto team”

(Note: for more details on these updates from the Arweave Project, check here.)

As reported in March 2020, blockchain startup Arweave, a permanent storage solution provider, secured $8.3 million in funding from Andreessen Horowitz, Coinbase Ventures, others.

As covered in November 2019, Andreessen Horowitz, Multicoin Capital, Union Square Ventures led Arweave’s $5 million investment round.

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