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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.
(Score: 2) by Fnord666 on Monday August 14 2017, @01:46PM
This is actually something that they address and is supposed to be one of the more significant breakthroughs they have made. Have a look at their "Proof of Replication" whitepaper which details how they address a number of abuse cases where miners might try to get away with not actually storing unique copies of data blocks.