Filecoin Gets Ethereum Integration, Storage Marketplace Goes Live on Codefi Activate

News / 21.10.2020

Proton Labs, the developer of Filecoin Network, has announced a partnership with ConsenSys. With this collaboration, Filecoin will be integrated with every aspect of Ethereum. The partnership has also set a path for a web app and API for Filecoin’s decentralized storage marketplace on ConsenSys’s Codefi Activate. Activate by Codefi Networks is a platform to facilitate the launch of decentralized networks. While also providing user participation through a web app and APIs.

The long history of partnership – Conensys & Protocol Labs

On 15th October, Filecoin Network‘s Mainnet went live with trading and custody support from the Gemini exchange just a week ago. Thus allowing users to leverage FIL token to buy or provide storage space in a decentralized manner on a peer-to-peer network. ConsenSys has been involved with Filecoin for a while now and plans to aid the network with its future development. Before Mainnet’s launch, ConsenSys Diligence also assisted Filecoin in addressing some vulnerabilities.

During this announcement, Joseph Lubin, CEO of ConsenSys, said,

“We are eager to build out greater functionality for IPFS and introduce new tools that will enable developers and consumers to easily make use of Filecoin and IPFS for their app development and pure storage needs.”

Filecoin Storage App

With this launch, users can now explore Filecoin Storage App on Codefi Activate. Thus allowing users to a complete view of the decentralized storage market. And it will be accessible through a web app as well as an API. It includes all active miners with their storage capacity, monthly price per gibibyte (GiB), location, and reputation score. The reputation score, in contrast, exhibits the effectiveness of storage miners. It’s on a scale of 1-100 and factor in components such as pricing, fault-rate, storage amount, and available mining power. Thus allowing users to make an informed decision while picking a storage miner as per their requirements.

The app serves both the storage clients and miners by offering a platform to connect as per their requirements. Activate platform also facilitates lending and borrowing of FIL tokens. This is done by using Ren Protocol and converting Filecoin (FIL) to renFIL.

Narender is a digital nomad & crypto writer. He's currently living in this small Himalayan village with a perfect balance of wilderness and an LTE network. His love for Chai and mountains precedes everything. Often wonders about things like, "why $1 earned through leverage feels 100x better than $1 earned selling your time?"