Filecoin storage exceeds 1 billion GB while launching wFIL for use in the DeFi ecosystem

Anchorage and Tokensoft have launched wFIL, a wrapping protocol that allows Filecoin to be used in Ethereum.

Crypto coin infrastructure providers Anchorage and Tokensoft have teamed up to „wrap“ FIL, the native token of the FIlecoin decentralised archive storage network, for use at the Ethereum.

The companies announced wFIL on 23 November, promoting its use in decentralised financial applications such as Compound, Maker and Uniswap. Filecoin ecosystem leader Colin Evra said:

„Wrapped Filecoin will enable some really creative DeFi products that create huge opportunities for miners and Filecoin storage users.
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The news came on the same day that Filecoin announced that the dedicated storage capacity of its global mining community has exceeded one exbibyte, equivalent to more than one billion gigabytes.

According to the announcement, Filecoin’s capacity could store 4,500 Wikipedias, 290 million 1080p quality movies, and 19 copies of the entire Internet Archive.

Filecoin is a decentralized and untrusted storage network that Crowd Millionaire offers incentives to miners who provide storage capacity on the network. The network hopes to attract developers and websites that will pay FIL in exchange for access to Filecoin storage or hosted data.

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Filecoin’s Discover function allows its miners to select datasets covering literature, science, art and history to mobilize unused storage capacity to house them and make them accessible to the public. The datasets include the Berkeley Self-Driving Data, a copy of the Wikipedia database, and The International Genome Sample Resource’s 1000 Genomes Project.

The team describes the milestone as „solidifying FIlecoin’s position as a legitimate challenge to cloud storage giants such as AWS [Amazon Web Services], Google Cloud and Dropbox“. Colin Evra stated:

„Our goal was to build an Alexandria Library for humanity’s most precious knowledge, one that could never be burned […] Filecoin’s mission to create a decentralised, efficient and robust base for humanity’s information is now a reality.
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On 24 November, Filecoin also announced that it had partnered with the Huobi crypt coin exchange to launch the Huobi-Filecoin Incubation Centre. The centre, which will be supported by a $10 million fund, will focus on blockchain incubation, investment and community development.

Filecoin currently has over 670 active miners and has over 90 organisations that rely on its network.