Decentralized data storage altcoin Arweavea new project with the announcement It’s up more than 104% this week.
AR, the native asset of Arweave, a protocol aimed at persistent data storage on an open and decentralized network, is trading at $27.79, up from $13.62 a week ago.
AR’s gains came largely after co-founder and CEO Sam Williams announced that they had launched a testnet for AO, a hyperparallel computer running on the project’s network.
The new computing environment has features aimed at helping with scaling and blending the benefits of smart contract applications with traditional computing environments.
“The Ao computer is a single unified computing environment (Single System Image) hosted on a cluster of nodes with diverse capabilities. Ao is designed to provide an environment that supports a diverse number of parallel operations coordinated through an open message passing layer.”
This month, Arweave also processed its highest number of transactions ever, and following the AO launch on Tuesday, the project began recording 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 this week’s gains, AR remains approximately 69% below its all-time high of $89.24 reached in November 2021.
