in the most recentEthCC 2021founderProtocol Labs founder Juan BenetA speech was given, explaining why the combination of Filecoin and Ethereum can lead us to the road to realize Web3. The following is the organization of the content of the speech by Blue Shell Cloud Storage.

About Filecoin

and IPFS andFilecoin。Filecoin is a distributed network designed to store the most important information of human society, it belongs toWeb3storage network. The goal of Filecoin is to attract a large number of storage providers to join its network through the incentive mechanism of encryption economy, and finally build a cloud storage service driven by encryption economy. In addition, Filecoin will also build a retrieval network in the future.

Filecoin network onOctober 15, 2020Officially launched, in less than a year, its network capacity has reached 8EiB. Filecoin can be viewed as atwo-sided marketclientclient, such as individual users, enterprise users with a huge amount of data, and applications, etc., and the other side isstorage provider, They continue to add storage facilities to the network. At present, the storage capacity added to the network every day is about 60PiB, which is equivalent to the size of the entire Internet file.

Filecoin prioritizes building massive storage capacity and then gradually turns it into useful storage over time. Currently the size of a storage transaction in Filecoin is only18PiB, which means that compared with the overall capacity of the Filecoin network, there is still a large amount of remaining capacity waiting to be effectively used.

Filecoin + Ethereum

• NFT storage

The combination of Ethereum and Filecoin can realize the free storage of NFT. currently has1.5 million NFTsIt is stored in the IPFS and Filecoin networks, and most of them come from Ethereum. NFT.Storage provides free NFT storage services for the Web3 network.

• Dataverse

The combination of Filecoin and Ethereum makes the creation of dataverse possible. Through dataverse, we canMake data in the network more useful and valuable. Think of Filecoin as a way to trade data movement and storage. On this basis, multi-layer economic value can be built. NFT is one of the cases. In addition, there are practical applications of data streams, auctions, and sales to different third party etc.

• Composable DeFIL

Bring market orders such as asks, bids, and trades to a decentralized exchange to observe the true market value of these orders. On this basis, build a new financial architecture to realize such as hard disk, SSD and GPUHardware Futures, or evenMake the storage order itself a future。

• pay-per-view media

Token-protected pages can be built where movies, music, and other content-specific pages can be placed.

• Turn NFTs into productive assets

NFT should provide the right to turn it into a productive asset, which will make it more useful and more valuable. If we could share the rights to distribute and charge for access to content, artists would be able to focus on making their art and not have to worry too much about marketing it.This will usher in explosive growth for the NFT market, with potential much higher than what the current NFT market has achieved.Now NFT also supports content with a large amount of data, such as movies, 3D environment models, and dynamic environments such as games.

• storage auction house

Filecoin PlusSome high-quality transactions can be impartialized so that such transactions can beTen times the block reward, customers can auction such high-value transactions to miners, and miners who want to obtain additional block rewards may bid for these transactions by reducing storage fees, reducing storage fees to zero, or evennegative pricing. Creators or owners of high-value data can earn revenue by giving storage providers the right to store these data.

In addition to the above, Filecoin and Ethereum can also be implemented togetherMarketplaces like Airbnb、DEX order book、Web3 media application、Web3 photo and video archives、Web3 social application、game、DataDAOs、music、game、VR asset distributionetc.Metaverseetc.

With such rich application scenarios and the ability to build beautiful things, Filecoin and Ethereum will undoubtedly lead us to the road to Web3.