How does Arweave work?

Arweave is a blockchain-based storage platform that allows users to store data permanently and securely.

It uses a novel consensus mechanism called Proof of Access (PoA) to ensure that data stored on the network is immutable and secure. At its core, Arweave is a distributed ledger technology (DLT) that stores data in blocks. Each block contains a set of transactions, which are cryptographically linked together using cryptographic hashes.

This ensures that all transactions are valid and can be verified by the network. The Arweave network is secured by miners who are incentivized to validate transactions and add new blocks to the chain. Miners receive rewards for their work in the form of AR tokens, which can be used to purchase storage space on the network or exchanged for other cryptocurrencies.

To ensure data integrity, Arweave uses a novel consensus mechanism called Proof of Access (PoA). PoA works by requiring miners to prove they have access to the data they are trying to store on the network before they can add it to a block. This ensures that only valid transactions are added to the chain and prevents malicious actors from tampering with stored data.

In addition, Arweave also utilizes sharding technology, which allows it to scale more efficiently than traditional blockchain networks. Sharding divides the network into smaller pieces, allowing more transactions to be processed simultaneously without sacrificing security or decentralization. This makes Arweave an ideal platform for storing large amounts of data securely and efficiently.