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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, @06:22PM

    by frojack (1554) on Saturday August 12 2017, @06:22PM (#552921) Journal

    Second, if the data is private I would be hesitant to share it encrypted in public, as someone has as long as they want to try and decipher it offline.

    Good point.

    In addition to requiring massive redundancy, you would also have to assure massive dispersal.
    Then you would also have to limit the percentage of files from any one source that would be allowed to exist in any specific replicate.

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