A decentralized data storage altcoin surged more than 104% this week amid the rollout of a new project.
AR, the native asset of Arweave, a protocol that aims to enable permanent data storage on an open and decentralized network, is trading at $27.79, up from $13.62 one week ago.
AR’s gains largely materialized after Sam Williams, Arweave’s co-founder and chief executive, announced they had launched a testnet for AO, a hyperparallel computer running on the project’s network.
The new computing environment aims to aid with scaling and blend the benefits of smart contract applications with traditional computing environments.
Explains AO’s website,
“The ao computer is a single, unified computing environment (a Single System Image), hosted on a heterogenous set of nodes in a distributed network. ao is designed to offer an environment in which an arbitrary number of parallel processes can be resident, coordinating through an open message passing layer.”
This month, Arweave also clocked its highest number of transactions ever, and after the AO launched on Tuesday, the project started registering more than 600 transactions per second.
Just the casual post that the month of February has the highest number of transactions on Arweave ever.
The graph below shows more than 5 and a half years of data.
The @AO_ecosystem just started up yesterday and brought with it an all-time high of over 600 txs per second. NFA. pic.twitter.com/RAv2T4skdd
— Only Arweave (@onlyarweave) February 28, 2024
Despite its gains this week, AR remains nearly 69% down from its all-time high of $89.24, which it set in November 2021.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
