Arweave launched decentralized file vault version 2.0

Arweave continues to develop decentralized online data storage. To scale the solution in Arweave2.0 applied the mechanism of "fast recording" and batch transactions.

Six months after receiving Arweavefunding in the amount of $5 million to develop a decentralized online data storage, the company's CEO Sam Williams spoke about the progress that has been achieved during this period. He said the system being developed is "starting to gain a mind of its own."

Since November, the number of applications in Arweavedoubled from 100 to more than 200, while the number of daily transactions also increased, rising from 147,000 to nearly 1.75 million, Williams said. Last month, the firm completed an additional $8.3 million token sale.

Arweave works on the same principle asother file storage services on the blockchain, such as Filecoin or Storj, but has larger ambitions, bolstered by new technical developments introduced in Arweave 2.0.

The team is working on "virtually unlimited" and permanent storage of data, and is committed to creating a digital version of the Alexandria Library.

"Arweave 2.0 takes the mechanisms we built into Arweave 1.0 and scales it to storage sizes that are so large that to the average user they seem infinite." — Williams said.

According to Williams, the team relies on twonew Arweave 2.0 features: fast write mechanism and batch transactions. A quick record stores on the network evidence of a transaction occurring in the root of the Merkle tree, while the data is transferred to the local storage through nodes that want to transfer information. This makes the network easier and faster.

Batch transactions provide a solutionsecond level. Each Arweave transaction can be moved off-chain, mixed with other transactions, and then placed back on the main chain as one large transaction. Together, these technologies, according to Williams, scale Arweave's storage and make it virtually "infinite." These two technologies are similar to the approaches that Ethereum developers are exploring before launching ETH 2.0: stateless clients and polynomial obligations.

Regarding Arweave's future plans, the teamplans to launch Arweave 2.1 later this year. The goal remains the same: unlimited, permanent data storage. Williams said the next update should bring Arweave to the finish line.

“People just use it, create something onit, and often they don’t even tell us about it,” — Williams said, citing the dozens of decentralized applications (dapps), from finance to gambling, that make up the Arweave library.

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