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The developers of Archain have released the first version of their new cryptocurrency and archiving system. This archiving system, built on revolutionary new cryptographic technology, would allow users to submit documents and webpages to an archive that is truly permanent and uncensorable for a small fee in the archain currency, ARCs. Users will be able to “mine” these ARCs themselves, or buy them from other users.
Such technology comes at an extremely welcome time; with internet censorship on the rise and the neutrality of the internet being widely called into question, an archiving tool that is truly out of the reach of any individual or organisation – even its creators – will allow citizens of the world to take part in the fight for free speech and expression. Archain hopes to live up to these expectations, “No longer will it be possible for our history to be forgotten” said Sam Williams, Archain’s CEO. “Archain is going to plug the Orwellian memory hole”.
However, the archain project is not just taking place behind closed doors. As well as open sourcing their product, the archain team have encouraged external developers to take ownership of the fight against undue internet censorship. Alongside its prototype, the Archain team has already released a toolkit to allow developers to build apps that will utilise the network’s permanent storage features, as well as instructional videos to help new developers get started.
In order to face the challenge of the internet-level scaling that Archain requires, the system employs novel Proof of Access and blockweave technologies. These technologies allow Archain to scale to levels far out of reach of traditional blockchain-based cryptocurrencies. By integrating data from randomly selected previous blocks into the mining of each new block, miners are financially incentivised to form a self-optimising network of storage and redundancy, creating a cryptocurrency that can rival the internet in scale. The details of these technologies can be found in the Archain whitepaper.
Development of the Archain product is well underway, with the first prototype and the app developer toolkit publicly available. You can contribute to the Archain project by taking part in our token pre-sale, ending 13/09/17.
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Source: News Bitcoin