Filecoin looks to rival Amazon Web Services(FWS) with Filecoin Web Services (FWS) launch
Blockchain-based storage network, Filecoin Network has announced the launch of its proprietary Filecoin Web Service (FWS) a cloud-based decentralized alternative to tech giants like the Amazon Web Service (AWS), and Microsoft Azure amongst others.
As announced by the protocol, the launch of FWS marks a very big milestone for its engineering team and the new protocol will be based on the Filecoin protocol. In describing the new service, Filecoin said its new FWS product is a compute and storage technology that is designed to work in a peer-to-peer manner. Coinspeaker
This is interesting news which really shows that the cryptocurrency ecosystem has a unified way of thinking and everyone is inevitably "trying" to say the least, to build a fully decentralized ecosystem and economy. Several steps are being taken by different projects to build up the infrastructure layers needed for Web3 to become a reality and to truly ensure crypto is immune to the centralization of traditional structures.
To list a few, the launch of Unstoppable Domains in an attempt to rival centralized domain name systems, the launch of web3 version of http, the working process of Speak Network here on Hive and now, with something similar, the Filecoin Web Services(FWS).
As many of us are aware, mining is a huge part of blockchain technology, the reality of mining is that it demands access to a lot of storage to be a good part of the network. For the integrity of blockchains, miners or node operators always have to have a copy of the distributed ledger. While in most cases, having a full copy of the network is never needed, it is however a measure of security for a larger number of people to have access to such a large amount of data so as to prevent attacks on the network by malicious players.
That said, this makes "storage" an important piece of the ecosystem, an asset if you may, so while cloud services like Google, Alibaba and Amazon Web Services are dipping toes in the crypto sector of late due to this, what if you as an individual could tap into the economic demand to make some profit? Is
This is from a past post of mine where I talk about the concept of a "decentralized storage market" where individuals are incentivized to lend out their free storages given that moving away from centralization would demand having access to more efficient and flexible storage systems that spans across the globe. With Filecoin, making a move in this direction of "decentralized storage", we could bet on having strong competitors to Google cloud, Alibaba and Amazon Web Services(AWS) in 5,10 to 15 years of consistent development on the offerings.
In a bid to change the narrative and provide a relatively better experience for users around the world, Filecoin said its FWS product will come with a number of unique components that will generally aid the usage of the cloud service.
“This technology stack includes various components such as computing, storage, and networking resources that can be used by developers to build decentralized applications. The components provided by Filecoin Web Services are designed to be scalable, flexible, and secure, making the offering suitable for a wide range of use cases,” it said.
Among the components includes the Estuary which includes the Node and Dashboard with both serving unique purposes. The Estuary also has a number of APIs and SDKs that generally helps developers looking to build on top of the Filecoin protocol.
Filecoin Web Service is also engineered to harbor the Delta Technology Stack, a suite of open-source tools for creating and managing Filecoin storage network deals. While these are crucial components that help distinguish the FWS, the Delta Asset Manager, the Delta Importer, Edge-UR, Ptolemy, FWI and Storage Market also complement the underlying provisions.
At the moment, it is unclear what measures are taken to actually make this shit "decentralized" and how it is governed. So that's to say we can't clearly spot any incentivization layer for third parties to access value for contributing to the network, maybe in the future - if not currently a feature, but for now, it's all surface information on a new product in the market, one that if done right, can be a huge step forward for crypto, blockchain and the move for Web3 - the decentralized internet.
Posted Using LeoFinance Beta