Thursday, June 20, 2024
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2022-06-03
By Pierre
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Arweave Ecosystem Weekly Report #40: The ‘Higher Highs’ Edition

Higher highs in terms of transactions and data usage, Graph protocol and Arweave are waltzing together. Huobi Incubator sailed the yet to be explored oceans of the Permaweb, and many other events that are explained in a less cryptic manner if you’ll indulge in reading the current report. All this happened only in the last week in Arweave.

Would you like to know more?

I. Arweave Network

Arweave just recorded the month with the biggest data usage since its inception

The month of May was a prodigious one for Arweave Network. We registered the highest number of weekly transactions a week ago and we were close to breaking the 50 million monthly transactions bar again. Still, we won’t talk much about transactions now. They are good, they are more than good, but we think that another indicator that is usually overlooked is even more important than the TXs counter: the data usage of the network. Uploading information only to let it rot on a decentralised weave of servers would diminish Arweave’s purpose substantially. The metric that shows that the network has meaning beyond being a data dump is represented by the actual amount of data retrieved from the network. Over 8 TB of data was retrieved from the block weave.

As you can see the usage spiked since last year and stayed at a level around 6-8 times higher than in the previous period. Given the fact that the majority of Arweave native dApps will become publicly available in the next months, we expect that this is only the beginning. On top of that, take into consideration that for now, there is only one single retrieval gateway. Decentralised gateway infrastructures like Arg8 or AR.IO are still under development.

The bond between Arweave and the Graph Protocol tightens

A beta integration with the Graph hosted service was announced on 3 June. This represents the last step in a strategic partnership between the two most tech-intensive protocols from the entire Web3. The particular news are somehow related to the ones above. The purpose of the Graph protocol is to offer indexing services for Web3. They are letting developers query different blockchains and publish decentralised APIs that make the data from the chain more accessible for dApps. So, basically, this integration introduces another tool to conduct data discovery and finally retrieval from the Arweave network. If you like to dip your toes in the technical part of this particular integration you can check this link.

II. Arweave Ecosystem

The third week of the seventh OWF edition just ended

We will never get tired of mentioning Open Web Foundry‘s endeavors. We won’t rest until every member of the Arweave ecosystem understands what it is and how it can change their life. So, again: OWF is a continuous incubator program for the Arweave ecosystem. One edition ends only to let the next one start. As you may know, we are in the middle of a bear market. This is the perfect moment to build, not to bet your savings in volatile markets. Please let me hold your beer while you are starting your Web3 project on Arweave and try your chances in OWF. They will be always there, open for proposals.

So, what were they up to this week?

As you can see, most of the events already happened. We strongly recommend you follow our Twitter account (link at the bottom of the article) because then you can be notified when they go live so you can join. Until then, if you missed the previous ones, you can see the recordings of Deep Dive #3 and #4. Enjoy.

Huobi’s Incubator Colombo Demo Day was all about Arweave projects

If you paid attention in the past months, you may have noticed that Huobi Incubator showed sustained interest in Arweave’s ecosystem. This culminated with the “Colombo Demo Day”.

Just like Columbus found America across the vast ocean, we want to take the lead and explore Web 3.0’s potential. As a leading incubator in the crypto space, we believe that by providing a continuous open platform to showcase the new emerging trends and projects within, we are able to select quality projects in this industry and help them gain more exposure. The event provides a platform to explore the new boundaries and possibilities with new entrepreneurs in Web 3.0 coming up to challenge the status quo. Together with our partners, we will be providing quality projects with mentorship, funding, resources, and long-term support.

Nine projects from the Arweave ecosystem were selected to showcase their strengths in the event.  One of the particularities of the Colombo Demo Day is that it is happening only once per blockchain. Until now there were only two events in the series, the first one featured Polygon projects and this – Arweave projects. So, in a sense, these 9 projects were the champions of Arweave’s ecosystem in Huobi’s incubator quest for finding the best startups from each chain. You can check their presentations here.

Akord slices prices for permanent storage

While the fees for Arweaves storage are currently at around $4 for 1GB, Akord is offering a huge discount. For the next weeks, they are maintaining the price for storing on Arweave at $3/1GB. Keep in mind that you will pay $3, the price of a coffee, for storing 1GB of data for at least 200 years. Pair this with their new slick UI that makes you forget that you are using a Web3 product, and you’ll have a pretty darn good motivation to at least try the feeling of the Permaweb.

RareCandy3D forged a partnership that will help their users to deliver physical collectibles

RareCandy3D, one of the participants from the sixth OWF edition, an NFT marketplace that uses Arweave storage, announced a partnership with Kongiscash, one of the first movers in physical devices that are linked with the blockchain. This alliance will let RareCandy3D users not only mint NFTs, but also link physical objects to those NFTs. The digital and the physical realm become more intertwined by the day.

KYVE integrated with Cronos Chain

KYVE, the Permaweb project that slowly but surely became a fully-fledged Layer 1 solution, announced the integration with Cronos – the chain of Crypto.com, one of the most know crypto apps.

While maybe this integration could be considered the most notable one from the last week, it surely wasn’t the only one. On 30 May they announced another integration with Umee, a Cosmos native DeFi hub, bringing the number of integrations they made in only a month to 6. All of this has happened since the launch of Korellia, their incentivised testnet.

Decent Land: even more lore

That’s one of the things that Web3 brought to the table and is never stressed enough: the possibility of seamlessly linking art and tech without giving a cringe feeling. I’m not saying that all Web3 projects are managing to do so, but some of them do. Decent Land, from a technical standpoint, is a decentralised merge between Twitter and Discord for both individuals and DAOs. They could have stopped there, that’s a clear and comprehensible product. No, they are creating an entire world that wraps the tech, teeming with life and perils, making you wonder if the art is a pretext for the tech, or the tech is a pretext for the art. Just read this chapter and tell me if I’m wrong.

Vitalik’s tweet about on-chain data storage

Vitalik Buterin, the founder of Ethereum, posted this tweet a couple of days ago:

The tweet itself is of secondary importance, although the work put into meme-ficing the message is to be appreciated. The replies, instead, offered meaningful insight into what the broader crypto space knows or more precisely doesn’t know about the subject. Maybe I’m biased, but I expected that Arweave or any other protocol that deals with decentralised storage, will be debated more. We had a few well-known community members that were present in replies – let’s say, the usual suspects – and that was pretty much it. I don’t know how to stress this enough – what startled me is not the lack of Arweave “shillers”, we don’t need that – but the lack of more in-depth thoughts or questions around the subject. Decentralised storage is truly in its infancy.

III. ICYMI

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Pierre

Passionate about Arweave, Archeology, and NFTs. Playing with words, dirt, and images.

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