{"id":382680,"date":"2023-12-18T09:51:40","date_gmt":"2023-12-18T09:51:40","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=382680"},"modified":"2023-12-18T09:52:22","modified_gmt":"2023-12-18T09:52:22","slug":"arweave-ar-token-value-drops-13-amid-contentious-hard-fork-debate","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/arweave-ar-token-value-drops-13-amid-contentious-hard-fork-debate\/","title":{"rendered":"Arweave AR token value drops 13% amid contentious hard fork debate"},"content":{"rendered":"<p>Decentralized storage platform Arweave's AR token dipped by more than 13% following recent drama about a possible hard fork of the blockchain network.<\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-rlfpa-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-rlfpa-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-8\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"c6678c36-9b25-4b16-8a06-5247cf27e5aa\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p><a href=\"https:\/\/cryptoslate.com\/coins\/arweave\/\">Data<\/a> from <em>Cryptoslate<\/em> shows that AR's token value dropped 13.06% to $8.9 as of press time, reversing a 15% gain it had recorded on the seven-day metric.<\/p>\n<p>Arweave is the fourth-largest filesharing blockchain network by market capitalization, according to <em>CryptoSlate's<\/em> <a href=\"https:\/\/cryptoslate.com\/cryptos\/filesharing\/\">data<\/a>. It functions as a decentralized permanent storage solution dedicated to safeguarding humanity's most critical data.<\/p>\n<p>The network enjoys substantial adoption among NFT artists and collectors aiming to secure digital art. It has forged <a href=\"https:\/\/cryptoslate.com\/arweave-teams-up-with-meta-for-nft-storage-ar-token-spikes-61\/\">significant partnership<\/a>s with major technological firms like Meta and has built <a href=\"https:\/\/arweave.news\/nft-arweave-ethereum\/\">integrations<\/a> with blockchain networks like Ethereum and Solana to incorporate their NFT processes.<\/p>\n<h2>Drama unfolds around potential Arweave fork.<\/h2>\n<p>On Dec. 17, Sam Williams, Arweave's founder, <a href=\"https:\/\/twitter.com\/samecwilliams\/status\/1736506715523178571\">accused<\/a> Irys, a storage solution provider formerly Bundlr, of planning to fork the storage platform.<\/p>\n<p>Williams asserted that Irys' intended fork, involving dropping the dataset and resetting the token supply, is driven by greed. He highlighted the necessity of forks for permanent storage platforms but condemned Irys for choosing an unethical approach.<\/p>\n<p>According to him:<\/p>\n<blockquote><p>&#8220;[Irys]\u00a0approach shortsightedly hampers even their own project of permanent storage. If the dataset and token supply are consistently reset, no fork can ever succeed at the long-term mission.&#8221;<\/p><\/blockquote>\n<p>Due to this alleged unethical approach, Arweave urged Irys users to migrate to other bundling service providers or create their own bundlers. The decentralized storage platform also plans to eliminate Irys' ability to &#8220;optimistically show their content on the main gateways of the Arweave ecosystem before their content settles onchain.&#8221;<\/p>\n<p>Meanwhile, Irys countered that Willams' actions were unjust and accused Arweave of actively censoring its platform. The bundling service provider further urged its users to use its gateway to bypass the restrictions imposed by Arweave.<\/p>\n<p>It <a href=\"https:\/\/twitter.com\/irys_xyz\/status\/1736535577959264702\">added<\/a>:<\/p>\n<blockquote><p>&#8220;Irys never has and never will take the choice away from users about where their data is stored. Creating unconstrained access to permanent data for its users is at the core of what Irys does. We remain committed to censorship-resistant, open-source, and permissionless technology.&#8221;<\/p><\/blockquote>\n<p>Irys also affirmed its commitment to advancing &#8220;new provenance tech&#8221; while ensuring uninterrupted services for its current users. It reassured users that their ongoing projects and the accessibility of their data will remain unaffected as it continues to develop &#8220;new features.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized storage platform Arweave&#8217;s AR token dipped by more than 13% following recent drama about a possible hard fork of the blockchain network. Data from Cryptoslate shows that AR&#8217;s token value dropped 13.06% to $8.9 as of press time, reversing a 15% gain it had recorded on the seven-day metric. Arweave is the fourth-largest filesharing [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":382696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,37,76736],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Arweave AR token value drops 13% amid contentious hard fork debate<\/title>\n<meta name=\"description\" content=\"Decentralized storage platform Arweave fell by more than 13% during the past day following drama about a possible fork.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/arweave-ar-token-value-drops-13-amid-contentious-hard-fork-debate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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