New perpetual web - we need partnerships with companies and VCs just like Arweave team did. Thoughts? These partners are now going to push Arweave product to market and potential customers bringing in growth and adoption.
Maidsafe team, any thoughts?
Well wisher as always!!!
They were brought up to us by a VC but I had never heard of them. All I can say is best of luck to them. I am sure those VCs will push them, but I also suspect consumer facing projects like ours don’t benefit as much from that. Partnerships, great, but where when and what etc.
But at some point Maidsafe team will also need some powerful corporate partnerships. This project will not get the credibility and penetration without it. Consumers will come only after corporate clients. Strategic business partnerships are generally a great way to get started. When timing is right, feel a couple of folks at Maidsafe should focus only on corporate partnerships. Allow 6-7 months for those to get finalized so from timing standpoint may need to start thinking accordingly on when to start on that…
contrary to everything else, I think corporate (and some investor partnerships) will be critical. I still feel some partnership with Bitcoin focused firms like Blockstream etc will be great if there are synergies. Something formal with TBL project will be great too. They are tied with corporations strategically with some powerful backers.
The Maidsafe price has not been discussed recently but as we reach testnets and visibility is gaining, i think investors (especially long term holders) would love if they are being rewarded for supporting this project from economic standpoint as well. No harm in it : )
I think the maidsafe price will adjust accordingly with demand and all long term holders will be rewarded well. However, I also really like Radix DLT concept. It is another venture run by a UK based firm launching soon after 6-7 years of R&D. Their idea is to keep the price of coin constant/consistent so the price of service is controlled. As the value of network increases, they will give corresponding additional coins to existing holders so the total value of their holdings increase even if the price of the coin is consistent/maintained. I am not sure of MAIDSAFE coin pricing algo but hope holders will be rewarded as network increases in prominence.
I havent posted in a while but have been watching the progress. Great work by Maidsafe team!!
Interesting take on incentives, competition for SN farmers.
Arweave [Excerpt from a Delphi Pro Report]
At this article’s posting, the Arweave weave has grown to over 65 TB of data; an impressive 8x increase since our previous Arweave report back in April 2021. More importantly, as can be seen, the growth rate of the weave suddenly changed in September 2021 and has persisted to this day at an average of 20% MoM. This is due to the implementation of ANS 104 which improved upon the “bundles” introduced by ANS 102 in July of the same year. Bundles massively increased the accessibility and usability of Arweave, and eventually, the work that went into them gave birth to a complementary protocol called Bundlr. We cover Bundlr in depth later in the article. Additionally, around the same time, Arweave also saw an increase in various NFT protocols making use of its network such as Metaplex, Glass, Mintbase, as well as large Solana and NEAR NFT marketplaces.
Lastly, since Arweave’s permanent storage claim is based on an economic guarantee that miners must be consistently incentivized to continue to participate through Arweave’s reward mechanism. The basic principle to ensure this is that the reward emitted by the network at any given block must be greater than the total value of expenditures required to maintain the blockweave for that period. In order to ensure the rewards mechanism has some longevity, a portion of the fees (currently ~80%) from each transaction are taken and placed into an endowment pool. The goal of the endowment is to sustain the economic incentives of the protocol as block rewards diminish over time. In the event that a specific block’s rewards aren’t sufficient to compensate miners’ for their estimated storage costs, the difference is taken from the endowment pool. To sum up, 20% of fees and block rewards immediately benefit miners, while 80% of fees accumulate in the endowment pool for sustainable future incentives. It’s therefore essential for endowment growth to reach meaningful levels.
Last year, the inflationary block rewards accounted for roughly 972k AR (assuming an avg of 3.7 AR/2 mins blocks). Meanwhile, the endowment has roughly grown by 20k AR or, put another way, 2.5% of the block rewards. While this is a low figure that would not be able to sustain the storage expenses of Arweave today in the absence of block rewards, it could indeed become sufficient if weave can sustain or increase its current growth rate. It’s important to recognize that at ~20% MoM growth rate weave can grow by 9x in a year and 80x in 2 years. Based on the rate at which block rewards are decreasing from the graphic above there is enough time for the endowment pool to grow and begin to sustain the network before block rewards perish if current growth continues. However, in the case that fees start to diminish faster than expected the network could stagnate as miners may lack incentive to continue to participate. The next two years will be critical in determining this. Given that the weave growth is highly correlated with endowment pool size such growth, if sustained, would certainly imply a bright sustainable future for Arweave.