What Is Ara (ARA)?
Ara is an open source decentralized content platform designed to reward fans for buying and hosting content directly from creators and publishers with no middle man. The platform consists of multiple layers, including an content delivery optimized P2P file system where peers are rewarded for hosting any type of digital content they purchase, a decentralized identity system, a smart contract driven rewards protocol for ensuring peers are paid for hosting content as purchases are being made, and publishing / peering of content through a locally hosted file manager.
ARA is the native utility token that is used for:
- Purchasing content on the platform (alongside other cryptocurrencies in the future).
- Receiving rewards for hosting and delivering content to others wanting to consume the content.
- Used for governance votes to determine how network resources are allocated.
ARA tools include:
- The Ara File Manager, which allows for publishing any type of digital content (games, movies, TV, documents, songs, albums, etc), setting metadata, and setting purchase prices.
- The Ara File System, which allows for easily packaging up individual pieces of content or collections of files, running remote updates, versioning, and more.
- Ara Identity, which is an implementation of DIDs, or Decentralized Identifiers, which allows users to interact with services in the Ara network. A DID document in JSON format is called a DDO (DID document object).
- Ara Rewards, which ensure that each peer hosting and delivering content to other consumers is rewarded tokens for their network and storage resources, and ensuring high availability of content.
How Many ARA Tokens Are There in Circulation?
Ara launched its Mainnet on January 30, 2019 Etherscan with 1 billion ARA tokens created at genesis, and the platform started development in December of 2017. There was no token sale, and the project was self funded, including the launch of the first liquidity pool on Uniswap in 2021. 60% of the tokens are reserved for delivery to users of the platform via air drops, liquidity provider rewards, bug bounties, purchasing content, and rewarding peers. 20% of the tokens are reserved for the treasury, and 20% of the tokens are reserved for core contributors, advisors, and governance.
Who Are the Founders of ARA?
ARA was created by Tony Mugavero, Joseph Werle, Dominic Giglio, Matt Collado, Vanessa Kincaid, Eric Jiang, Kevin Faaborg, Brooklyn Earick, and Charles Kelly originally as a solution for growing content delivery and payment processing costs at the XR streaming company Littlstar (now known as Rad TV). Ara was open sourced and spun out of Littlstar in 2020, and is now a fully community driven project and suite of protocols.
The original ideas and whitepaper were born in 2017 from a combination of growing content delivery costs, cross border payments, currency exchanges, tax nexus issues, experience with peer to peer content delivery networks reducing costs, and fixing the lack of transparency within content marketplaces taking large revenue shares from creators.
This project became what is now Ara, and includes developers and advisors with experience at Spotify, Lime Wire, BitTorrent, Google, Disney, Capital One, NASA, and more.
Where Can I Buy Ara (ARA)?
ARA is available for trading on Uniswap with an Ethereum pair currently, and stablecoin and cryptocurrency pairs forthcoming along with numerous exchanges in the pipeline.
Uniswap offers an Ethereum (ETH) pairing, with numerous other currencies forthcoming.
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