Filecoin joins Ethereum!

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3 years ago

Today, ConsenSys, a large blockchain software technology company focused on the Ethereum network, announced a partnership with Protocol Labs (the creator of Filecoin) and an integration with Filecoin.

You can think of Filecoin like a decentralized Airbnb for data storage. They launched on their mainnet last week, and it was one of the most anticipated launches from the 2017 ICO era.

The aim of the ConsenSys/Protocol Labs collaboration is to develop the decentralized storage ecosystem and community, integrating with Ethereum at every layer of the decentralized technology stack.

Joseph Lubin, Founder and CEO of ConsenSys, and Juan Benet, Founder and CEO of Protocol Labs, joined me on a panel with me to talk about the partnership.

Benet describes how Filecoin’s open network will foster a more sustainable and globally accessible web infrastructure. The IPFS system he built promises both faster and cheaper retrieval of data, eliminating the need to rely on centralized servers. Filecoin now provides an economic incentive for that system.

Lubin explains how the ConsenSys Product Suit hopes to provide the best view of the Filecoin storage marketplace, and make price discovery for storage on the Filecoin network simple and transparent.

He also discussed the Filecoin DeFi Bridge that will enable conversion of the Filecoin (FIL) cryptocurrency to ERC-20 tokenized FIL. Once on Ethereum, FIL holders and miners can deposit their tokenized FIL as collateral in a DeFi lending market to earn interest, or borrow more FIL to stake on storage mining operations.

Many Ethereum and ConsenSys apps have used IPFS for years, because decentralized storage is a critical part of the Web 3.0 architecture. This partnership is an exciting step forward for a decentralized internet.

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#filecoin #ethereum #blockchain #ipfs #cryptocurrency

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3 years ago

Comments

As long as the IPFS protocol itself
remains unfettered by filecoin/eth entanglements
hope remains standing.

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User's avatar sanctuary.the-one-law
3 years ago

Why down on filecoin? The same person who created IPFS and filecoin, I'm pretty stoked to have a way to incentivize hosting on IPFS.

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User's avatar NaomiBrockwell
3 years ago

I am definitely not 'down' on Filecoin in and of itself.
Filecoin can be a good step in the right direction.
I wrote a very long message but started over in favor of simply saying:
As long as IPFS remains open
and Filecoin remains an adjunct all is well.
History is full of such pairings
in which one became Master for the other.
in which the "Tail began wagging the Dog"
IPFS is already far too important to freedom of speech to lose.

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User's avatar sanctuary.the-one-law
3 years ago
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