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Protocol Labs Collaborates with ConsenSys to Bring Filecoin to Ethereum

Today, ​ConsenSys​ announced a collaboration with Protocol Labs​, the open-source software laboratory whose projects include ​InterPlanetary File System ​(IPFS),​ ​Filecoin​, libp2p​, a​nd more. The wide-ranging collaboration seeks to further integrate Filecoin’s next-generation marketplace for data storage and retrieval with ConsenSys’ leading Ethereum product stack.

The mainnet launch of the Filecoin network is a significant step toward growing a decentralized storage ecosystem and community that can integrate with Ethereum at every layer of the decentralized technology stack. IPFS aims to create a resilient, upgradable, open network to foster a more sustainable and globally accessible web infrastructure. IPFS promises both faster and cheaper retrieval of data, no more reliance on centralized servers, and an ability to access the web while offline. The economic incentive layer for IPFS is the Filecoin network, with its own token called Filecoin (FIL), which rewards miners that compete to properly store encrypted data on the Filecoin network. On October 15th, at block 148,888, the Filecoin network launched its public mainnet, which already contains 600 PiB of data, not to mention 600 active data miners, and 230 projects interacting with the storage protocol.

With new and upcoming features from ConsenSys’ product suite, Filecoin miners, developers, and users of the network can now access essential Ethereum tools and integrate with Ethereum’s decentralized finance ecosystem. This collaboration will make possible greater integration of Ethereum and Filecoin technologies as well as increasing convergence of their respective communities of builders, developers, and end users.

Joseph Lubin, Founder and CEO of ​ConsenSys​ said, “Many ConsenSys apps and portfolio companies have used IPFS for years through Infura. 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. Through Infura, Codefi, MetaMask, and other ConsenSys projects over time, developers will easily integrate IPFS and Filecoin functionality into their apps and seamlessly interoperate with Ethereum-based functionality and other apps at every layer of the stack, from the protocol layer to the financial layer with DeFi. Rich interoperation between decentralized protocols that subserve very different functionalities, like Ethereum, IPFS, Filecoin and libp2p, is the hallmark of the decentralized web really starting to take shape.”

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