HomeBlockchain & CryptoFilecoin Announces Integration With Solana

Filecoin Announces Integration With Solana

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Recently, on February 17, 2024, in their thread on X, Filecoin (FIL) announced an agreement with Solana (SOL) for a decentralized blockchain storage solution.

Namely, “Solana is utilizing Filecoin to make its block history more accessible and usable for infrastructure providers, explorers, indexers, and anyone needing historical access. By leveraging Filecoin’s decentralized storage capabilities, Solana can achieve data redundancy, scalability, and enhanced security while staying true to its decentralized ethos.”

In the retweet of Filecoin’s announcement, Solana’s founder Anatoly Yakovenko further mentioned that Triton One, the RPC service, played a crucial role in the success of this collaboration.

This integration significantly enhances Solana’s competitive advantage over Ethereum and other smart contract platforms. It is worth noting that currently, many blockchain platforms still rely on storage infrastructure provided by Microsoft Azure or AWS, which are centralized storage services.

Filecoin Announces Integration With Solana
48.5% of the nodes on Ethereum utilize cloud/hosting services. Out of this percentage, 35% of the nodes are stored using AWS.
Source: ethernodes

Before integrating with Filecoin, Solana’s node distribution was similar to Ethereum, with Hetzner accounting for 42%, followed by OVH (26%), and AWS (3%) (data from 2022). On November 2, 2022, over 1,000 nodes on Solana were disconnected as Hetzner withdrew support, resulting in more than 22% of SOL staking not receiving transaction confirmation rewards.

Filecoin Announces Integration With Solana
However, the Solana network remains secure since its decentralized node distribution.
Source: Solana Foundation

This is also a significant step for the Filecoin project in particular, setting a precedent for future collaboration opportunities. Before Solana, Filecoin had not integrated with any Layer-1 blockchains. Additionally, the price of Filecoin (FIL) experienced a 30% recovery in February and received positive news coverage.

Filecoin Announces Integration With Solana
Source: Messari

This agreement also has a positive impact on the overall market, demonstrating that blockchain projects need to collaborate to promote interoperability and seamless integration of technologies. It highlights the importance of cooperation in enhancing the capabilities of the blockchain ecosystem.

The information provided in this article is for reference purposes only and should not be considered investment advice. All investment decisions should be based on thorough research and personal evaluation.

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