This is what happens if your app, which uses the Arweave profit-sharing token (PST), wins: It gets $100,000 in funding.
Arweave and Gitcoin teamed up to help fund an open web incubator, and they did it together. Arweave’s technology aids in the creation of storage that is independent of other parties, such as Filecoin. In the end, the winner will get $100,000.
If you want to join the first Open Web Incubator by Arweave and Gitcoin, there is still time.
Join the Open Web Incubator from July 1st through August 12th to create new Arweave applications. This is what happens if your app, which uses the Arweave profit-sharing token (PST), wins: It gets $100,000 in funding.
Some persons may be rewarded when the decentralized web project is completed. The new profit-sharing token seems to be a novel approach.
It gives developers the chance to meet with experts in the blockchain field, pitch to top VC firms like Andreessen Horowitz and Union Square Ventures, and get help from the company.
Gitcoin Alliance
The Developer Relations Lead for Gitcoin, Scott Moore, told Decrypt that Gitcoin and Arweave have been running hackathons and events together for a few months now.
When Sam Williams and William Jones started Arweave in 2017, they named it after their dog. A group wants to make the internet so that no one can change any of the data or content. Permaweb: It’s being built by a company called Blockweave, and it’s called that because it will last for ages.
About Permaweb
Viktor Diordiiev, the CCO of Arweave.org, says that the Proof of Access consensus method uses a recall block architecture. It came out earlier this year, Archain, An Unforgivable, Unrevocable Internet Archive is the title of the book.
A company called Arweave has raised more than $22 million through seed investments and a token sale called the Arweave (AR) token sale. As of this writing, the token was worth $1.62.
Tim Berners-Lee envisioned a decentralized, permission-free web where people might create lasting archives of information and history. Gitcoin’s Moore said that Arweave helps us get closer to that goal.
There is a lot of competition between Arweave and other companies that want to be the standard for decentralized storage.
Filecoin, Sia, Safe Network (MAID), and Storj are developing decentralized cloud storage technologies (STORJ).
People will find out who won soon after August 19th, when the competition ends. If you want to learn more about an open web incubator, you can go to Gitcoin.co.
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