Arweave + Shelf.Network: Providing data storage for a decentralised auction house
Arweave is proud to announce our partnership with Shelf.Network, the innovative decentralised auction house network.
Also a member of the Techstars family, Shelf.Network utilises blockchain technology to let users place one auction listing on multiple online marketplaces simultaneously. This creates a shared inventory pool, allowing sellers to reach more potential buyers, thereby increasing liquidity for sellers, and convenience for them and their customers. This is achieved simply and subtly, with no added complexity for the end user.
Auction listings contain a relatively large volume of data, making using blockchain technology alone challenging and restrictive. To solve this problem Shelf.Network will utilise Arweave’s massively-scalable blockweave data structure to store the auction listings, as it can handle the large data sizes that traditional blockchains cannot. Then, a reference to the Arweave data is stored on the Shelf.Network’s own blockchain. While previously blockchain projects have needed to resort to centralised and temporary cloud storage solutions for storage of large data, it is no longer necessary to take the risk of storing your data non-permanently like this. Arweave allows full decentralisation of the system, while ensuring data is still verifiable from start to finish, forever.
We anticipate that this pattern of using the Arweave as a supplementary data store for other blockchain-based applications will occur more and more frequently. Arweave perfectly supplements other blockchain-based systems, by maintaining all the normal benefits of blockchain technology, but allowing it to scale to massive storage sizes, without depending on any centralised infrastructure.
We’re looking forward to a very productive partnership with Shelf.Network, bringing all the benefits of the blockchain and blockweave to online marketplaces in the very near future.