- Filecoin and Solana have entered into a strategic partnership.
- The agreement aims to improve the scalability and security of the blockchain.
- On the back of the news, the FIL exchange rate rose by more than 4%.
The Filecoin platform has entered into a strategic partnership with the Solana blockchain. The agreement aims to improve the reliability and scalability of the network.
Solana’s integration with #Filecoin is a significant move away from centralized storage solutions and a remarkable step towards enhancing the reliability and scalability of the Solana blockchain.@solana is utilizing Filecoin to make its block history more accessible and usable… pic.twitter.com/1NcuaLNYT5
- Filecoin (@Filecoin) February 16, 2024
As a reminder, Filecoin is a decentralized data storage platform with a native FIL token. Martha Belcher, Chair of the Filecoin Foundation Board of Directors, who took part in the Incrypted Conference 2023, told us more about the project.
Thanks to this agreement, Solana developers expect to optimize the availability of block history and significantly reduce data storage costs. This will help accelerate blockchain scaling, they believe.
Anatoly Yakovenko, co-founder of the project, commented on the agreement as follows:
“I express my huge gratitude to Filecoin for creating an amazing decentralized archive layer!”
Amid the news, the Filecoin token (FIL) marked a gain of 4.5% in a 24-hour period, from February 18 to February 19, 2024. At the time of writing, the asset is trading at $6.5:
Notably, the U.S. Securities and Exchange Commission has labeled the token as a security. The Filecoin Foundation criticized the decision.
