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Brendon Lim
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AR now available on Coinhako

AR now available on Coinhako

We are thrilled to share that (AR) is now listed on Coinhako!

What are Arweave and AR?

Arweave is a decentralized network offering permanent data storage and hosting services, operating on an open ledger system. Founded in 2017 as Archain, the company aims to make permanent, low-cost storage a reality with the Arweave network, a block-based data structure called a "blockweave". The blockweave underpins the Arweave permaweb, an array of data, websites, and applications hosted on it, accessible via modern web browsers.

AR is Arweave's native cryptocurrency, serving three main purposes: payment for uploading data to the network, reward for miners who create blocks and verify data, and platform governance and voting.

There is a total supply of 66,000,000 AR and AR has traded for US$90.94 at its peak. 

How does Arweave work?

Arweave differs from typical blockchain designs for cryptocurrencies. Instead of a linear chain of blocks containing transactions and data, Arweave stores data in a graph of blocks. Each block links to two previous blocks, forming a "blockweave" structure, contrasting Bitcoin's ordered chain.

Arweave's transaction verification differs from most cryptocurrencies. Instead of Bitcoin's proof-of-work, Arweave uses "proof-of-access." Computers on the network must check that new transaction bundles contain a random marker from a previous bundle. If present, the new transactions are added, and the computer adding them receives an AR reward. Proof-of-access ensures new transactions' accuracy and old ones' integrity.

Content moderation allows Arweave nodes to choose the data they store. New uploads are broadcast, and each node decides whether to accept or reject the data based on its preferences, like hosting only audio files. Storing more data yields greater transaction fee rewards, incentivizing comprehensive storage.

Why does Arweave stand out?

Arweave offers permanent data storage for a one-time cost, disrupting the cloud storage market's recurring fee model. Its "storage endowment" model uses sustainable economics to ensure long-term data replication and accessibility. Arweave also emphasizes community-driven content moderation within its ecosystem.

What can you do with AR on Coinhako?

AR will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

  1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
  2. Purchase AR instantly with Visa / Mastercard 

Please note that the sending and receiving of AR will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

  1. Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

Visit: Coinhako.com/risk-disclosure for more information.