ConsenSys announced that it is officially partnering with Protocol Labs to incorporate the highly-awaited Filecoin marketplace within its Ethereum product stack. As per the announcement, the developers, users, and miners of Filecoin will now be granted access to the high-end developer tools of Ethereum and ConsenSys. This includes MetaMask and Infura. Notably, this partnership could also pave the way for Filecoin users to enter the booming decentralized finance (DeFi) sector.
James Back, the head of public relations for ConsenSys, commented on this development by stating that Ethereum decentralized applications (dapps) and projects will now become more decentralized. This is largely thanks to Filecoin’s genuinely impressive capability to store significant amounts of relevant data. Back added that this is so much better than relying on centralized cloud service.
Back continued that developers will now have a much easier time integrating the functionalities of Interplanetary File System (IPFS) and Filecoin within their applications. On top of that, it would also become smoothly interoperable with Ethereum and DeFi.
This past October 15th, the highly-awaited Filecoin mainnet officially went live. It features a very impressive storage capacity of more than 600 petabytes. Additionally, it can have over 600 active data miners and 230 projects operating within the same storage protocol. Now that Filecoin is publicly live, users may now pay for or supply decentralized storage through its native token – FIL token.
ConsenSys, who is actively involved with Filecoin’s development, admitted that the protocol still had several vulnerabilities in its late development stages. However, ConsenSys clarified that all of it has since been smoothened out prior to the protocol’s launch last October 15th.