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Cryptocurrency infrastructure providers Anchorage and Tokensoft are collaborating to wrap FIL, the native token of the FIlecoin decentralized file storage network, for use on Ethereum.
The companies announced wFIL on November 23, promoting its use in decentralized finance applications including Compound, Maker, and Uniswap. Filecoin Ecosystem Manager Colin Evra said:
“Wrapped Filecoin will enable some truly creative DeFi products that create huge opportunities for Filecoin miners and storage users.”
The news came on the same day that Filecoin announced that the dedicated storage capacity of its global mining community has surpassed an exbibyte, equivalent to more than one billion gigabytes.
According to a ad, Filecoin’s capacity could store 4,500 Wikipedias, 290 million movies in 1080p quality and 19 copies of the entire Internet Archive.
Filecoin is a trustless decentralized storage network that offers incentives to miners providing storage capacity in the network. The network plans to attract developers and websites that will pay FIL in exchange for access to Filecoin storage or hosted data.
Filecoin’s Discover feature allows its miners to select datasets spanning literature, science, art and history to mobilize unused storage capacity to host and make accessible to the public. Datasets include Berkeley self-driving data, a copy of the Wikipedia database, and The International Genome Sample Resource 1000 genomes Project.
The team describes the milestone as “consolidating FIlecoin’s position as a legitimate challenger to cloud storage giants like AWS [Amazon Web Services], Google Cloud and Dropbox. “Colin Evra said:
“Our aim was to build a Library of Alexandria for humanity’s most precious knowledge, one that could never be burned […] Filecoin’s mission to create a decentralized, efficient and solid foundation for information about humanity is now a reality. “
On November 24, Filecoin also announced that it has partnered with leading cryptocurrency exchange Huobi to launch the Huobi-Filecoin incubation center. The center, which will be supported by a $ 10 million fund, will focus on incubating, investing and developing the blockchain community.
Filecoin currently includes more than 670 active miners and boasts more than 90 organizations that rely on its network.
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