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posted by martyb on Saturday August 12 2017, @06:47AM   Printer-friendly
from the 'flip'-a-coin? dept.

A blockchain-based cloud storage technology called Filecoin has already raised $52 million from investors. The company is poised to raise millions more on Thursday when it begins selling units of its bitcoin-like cryptocurrency to a larger set of wealthy investors.

Filecoin aims to disrupt conventional cloud-based storage platforms from Amazon and others. If it succeeds, the technology could be worth billions of dollars. But the company will need to overcome some significant hurdles first.

First and foremost, Filecoin's technology doesn't actually exist yet. The Filecoin team has done extensive research and planning, producing a series of white papers describing the technology it's building. But an actual, working Filecoin network is still months away. When it launches, Filecoin will compete with rival blockchain storage networks, including Sia, which has been available to the public for two years.

"Filecoin currently is just a white paper," Sia co-founder David Vorick told us earlier this week.

Have any Soylentils encountered or used blockchain storage, and if so what did you think of it?

Source: Ars Technica

Also at Medium, TechCrunch, and CoinDesk.


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  • (Score: 2) by frojack on Saturday August 12 2017, @06:16PM (1 child)

    by frojack (1554) on Saturday August 12 2017, @06:16PM (#552918) Journal

    What is all the money needed for?

    1) To incentivize you to offer up spare space on you NAS box(s) for "cloud" storage of random blocks of data from customers.
    2) To pay for storage you've stuffed into the cloud so as not to have your warez and porn on your own computer.

    I will gladly pay you Tuesday to hold my porn collection today. We'll use imaginary IOU notes to keep score.

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  • (Score: 2) by edIII on Saturday August 12 2017, @11:27PM

    by edIII (791) on Saturday August 12 2017, @11:27PM (#553027)

    I will gladly pay you Tuesday to hold my porn collection today.

    But why do that when the Internet holds my porn collection every day?

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