• Filecoin is a blockchain-based cloud storage platform that incentivizes a global network of computer operators to provide a file-sharing and storage service.
• It has partnered with venture capital firm a16z, and Lockheed Martin to develop the Interplanetary File System (IPFS).
• The platform underwent an upgrade with the launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet.
Filecoin: Revolutionizing Data Storage
Filecoin is revolutionizing data storage through its blockchain-based cloud storage platform. In the new digital age, Filecoin is helping businesses and hundreds of projects in data storage, unlocking the open data economy. Through its native token FIL, the project incentivizes a global network of computer operators to provide a file-sharing and storage service.
Filecoin has managed to attract major partners such as Lockheed Martin which is worth more than $100 billion. The two have collaborated to develop a program for deploying the Interplanetary File System (IPFS) in space. More recently, Protocol Labs which founded and funds the development of Filecoin, has entered into a partnership with venture capital firm a16z which has over $35 billion in assets under management. Under this collaboration, the two will provide targeted support to some of web3’s most visionary founders participating in the 2023 Crypto Startup School (CSS) accelerator program. Participants will benefit from Privileged Engineering Support, Decentralized Storage Credits, Talent support, and PL Founders Community.
Launch Of FVM Cohort
Mid-last month, the platform underwent an upgrade with the launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet. As the team confirmed, over 60 project teams were building with FVM on its Hyperspace testnet and were part of the mainnet pioneers. The FVM Mainnet Pioneers cohort aimed to support creation of impactful and sustainable solutions on FVM as part of Protocol Labs‘ growing network saw strong interest from both inside & outside Filecoin community . Teams having impactful ideas & credible skilled teams were accepted . An earlier post noted that this launch “will unleash wave new possibilities including programmable storage primitives such as storage bounties & auctions , cross-chain interoperability bridges , data centric DAOs , Layer 2 solutions (reputation systems , computation fabrics etc.) & more“
SEC Goes After FileCoin
Although there is much optimism around FileCoin’s developments , they are still under scrutiny by SEC . This comes after there was reports that there may be potential violations in their initial coin offering which took place back in 2017 . As per SEC’s statement they are probing into whether or not “unregistered securities offerings” took place during this period or not .
All things considered it can be said that despite these issues , overall prospects for FileCoin remain positive due its advancements in data storage & collaboration thanks to partnerships like A16Z Crypto & Launch Of FVM Cohort .