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Arweave Launches Testnet for Scalable Blockchain Network – AR token surges nearly 50%

Arweave, a decentralized data storage platform, has announced the launch of a public testnet for Arweave AO, a new blockchain network that aims to offer significant scalability improvements for various applications, including social media and artificial intelligence (AI).

The testnet, dubbed AR.IO, is open to tech enthusiasts and community members who want to explore the network’s features and capabilities, as well as provide feedback and suggestions for improvement.

Arweave AO is built upon Arweave’s existing data storage platform, which allows users to store data permanently on the blockchain, with a one-time fee based on the amount of data and the network’s demand.

Arweave co-founder Sam Williams said that the idea for Arweave AO emerged from the team’s exploration of social media applications on the Arweave platform, which revealed the need for a scalable blockchain solution that could handle high transaction volumes and large datasets.

“We realized that we needed a new kind of blockchain architecture that could scale massively, both in terms of transactions per second and data storage capacity,” Williams said.

To achieve this, Arweave AO modularizes its architecture, allowing for parallel processing and high throughput. The network also introduces an operating system, AOS, which supports the Lua programming language, enabling developers to create a wide range of applications on the network.

Additionally, Arweave AO is compatible with the Ethereum Virtual Machine and other blockchain protocols that use WebAssembly for smart contracts, allowing for interoperability and cross-chain communication.

One of the key features of Arweave AO is its focus on data storage, which enables the network to handle large datasets, such as those required for AI models. Williams said this approach sets the network apart from other blockchain solutions, as it provides “hyper parallel” computing capabilities, aiming for extensive scalability.

“Arweave AO is not just a blockchain, it’s a data storage network that can also run computations on the data. This opens up a whole new realm of possibilities for applications that require large amounts of data, such as AI, machine learning, and big data analytics,” Williams said.

The testnet phase of Arweave AO is expected to last for several months, during which the network will undergo rigorous testing and evaluation. The testnet will also serve as a platform for developers and users to experiment with the network’s features and functionalities, as well as to contribute to its development and improvement.

One of the main aspects of the testnet is the evaluation of the Gateway Address Registry (GAR) and the Observation Incentive Protocol, which are essential for ensuring the network’s scalability and functionality.

The GAR is a decentralized registry of gateways, which are nodes that provide access to the network and its data. The Observation Incentive Protocol is a mechanism that rewards gateways for observing and verifying transactions on the network, as well as for providing data to users.

The testnet also introduces a new token, IO, which is used to incentivize gateway operators and to pay for network services. IO tokens are distributed to testnet participants based on their contribution and engagement.

Williams said that the testnet is an important step towards the launch of the mainnet, which is expected to happen later this year. He also expressed his excitement and optimism about the potential of Arweave AO and its impact on the decentralized web.

“Arweave AO is a game-changer for the blockchain space. It’s a network that can scale to meet the demands of any application, while preserving the core values of decentralization, security, and permanence. We believe that Arweave AO will enable a new wave of innovation and creativity on the decentralized web, and we invite everyone to join us in this journey,” Williams said.

Currently, AR is priced at around 24 USD, increasing nearly 50% in the past hour after the news of the testnet launch.

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