25. Januar 2021

Filecoin: record storage space and a token that can be transformed for DeFi

The decentralized file storage service Filecoin has achieved a new storage space record. He also announced the launch of a “wrapped” token intended for decentralized finance (DeFi).

Miners always offer more storage space to Filecoin

The Filecoin storage network has seen the space on offer grow exponentially since its launch less than a month ago. After a complicated start, the project had changed the way it distributed its rewards . Since then, FIL miners , who produce the native Filecoin token in exchange for the storage space on offer, have continued to pour into the network.

As it was announced yesterday , Filecoin therefore now has an exbibyte (EiB) of storage space, i.e. more than a billion gigas in total. That’s 280 million copies of 1080p movies, 4,500 copies of Wikipedia, or 19 copies of The Internet Archive. This space is provided by 661 active minors :

Colin Evran, the head of the Filecoin ecosystem, explains the project’s disproportionate ambition:

“Our goal is to create a library in Alexandria that would allow humanity’s most precious knowledge to never be burned. With our global community of miners, our passionate customers and network tools accessi b ’s, we are much closer than before to our goal, while supporting new use cases. “

DeFi in the sights

And among these new use cases, there is of course decentralized finance . More and more altcoins choose to be „packaged“ ( wrapped) to be compatible with Ethereum and the DeFi sector. This has recently been the case with Zcash (ZEC) , or altcoin Dash (DASH) .

For Filecoin, Anchorage and Tokensoft were responsible for creating this wrapped FIL (wFIL) . According to Colin Evran, this will further open up the Filecoin ecosystem:

“ The Filecoin wrapped will help create truly creative DeFi products , which present huge opportunities for Filecoin miners and users of storage space. „