• Filecoin is revolutionizing data storage through its blockchain-based cloud storage platform.
• The platform underwent an upgrade with the launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet.
• Filecoin partners with venture capital firm a16z to provide targeted support to some of web3’s most visionary founders participating in the 2023 Crypto Startup School (CSS) accelerator program.
Filecoin Revolutionizes Data Storage
Filecoin is revolutionizing data storage through its blockchain-based cloud storage platform, unlocking the open data economy and incentivizing a global network of computer operators to provide a file-sharing and storage service. Through its native token FIL, businesses and hundreds of projects are able to benefit from this technology. Furthermore, partnerships with major companies such as Lockheed Martin have been formed to develop a program for deploying Interplanetary File System (IPFS) in space.
a16z Crypto Partnership
Protocol Labs recently 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
The launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet saw strong interest from the Filecoin community and beyond who were looking for impactful solutions on FVM as part of Protocol Labs network. As such teams with impactful ideas and skilled teams were accepted and it “will unleash a wave of new possibilities including programmable storage primitives such as storage bounties and auctions, cross-chain interoperability bridges, data-centric DAOs, Layer 2 solutions (reputation systems, computation fabrics, etc.), and more.“
SEC Goes After Filecoin
Although there are much positives surrounding Filecoin’s development progressions there have also been negative developments such as when it was revealed that SEC had filed charges against them regarding their initial coin offering which occurred back in 2017/2018 timeframe. This was concerning news but it appears that they have since settled these charges by paying over $24 million dollars worth of penalties along with other requirements set by SEC officials.
Conclusion
Overall there is much positive sentiment surrounding Filecoin’s development progressions due to their innovative approach towards cloud based data storage combined with partnerships such as Lockheed Martin & A16Z Crypto which should help propel them forward but at same time investors need to be aware that issues can arise such as when SEC went after them years ago so do make sure you’re doing your research first before investing into any project or company like this one!