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November 24, 2020

A Milestone in Storage: Filecoin Surpasses 1 Exbibyte

A Milestone in Storage: Filecoin Surpasses 1 Exbibyte

Fewer than four weeks after its mainnet launch, the Filecoin network is celebrating a major milestone. As of today, the global community of Filecoin miners has dedicated 1 exbibyte (EiB) of decentralized storage capacity to the Filecoin network. This is a tremendous achievement for the Filecoin network.

To provide some context to the announcement, here are some examples of what 1 EiB is equivalent to:

1 exibibye of data

At this 1 EiB storage milestone, the Filecoin network is a large, diverse, distributed, and innovative ecosystem of participants.

Filecoin highlights

The current structure of the internet is on fragile foundations. Filecoin acts as a cornerstone for critically important public information, preserving datasets such as open access scientific data, creative commons media, and historical archives. A powerful and dynamic distributed cloud storage network for your data, Filecoin Discover provides miners the opportunity to select datasets spanning literature, science, art, and history to store, which are all now open and accessible to the public. The catalog of open-source datasets includes; ENCODE, 1000 Genomes, Project Gutenberg, Berkeley’s Self Driving Data, as well as a copy of Wikipedia’s database.

Harnessing the world’s underutilized storage assets, Filecoin’s marketplace creates a unique sharing economy, aligning incentives and pragmatically rewarding useful and reliable storage to drive an unprecedented economy of scale for pricing storage solutions. Provable security and authenticity checks, such as content addressing and cryptographic storage proofs, verify data is being stored correctly and securely over time. Distributing the world’s data storage and moving it away from the current cloud oligopoly, which relies on physical servers kept in a concentrated number of data centers, will also serve to enhance data security and resilience by reducing the threat of damage, loss, theft, firewall breach or attack. Filecoin reduces the barriers to entry for storage providers and turns cloud storage into a commodity. This allows new entrants to easily compete with entrenched players. Comprising a growing community of over 677+ active miners, 90+ organizations building on the network, 200+ new projects entering the ecosystem through dedicated accelerators and hackathons, and more than 4,800 contributors on GitHub, the opportunities to partake in the evolution of the network and surpass many EBs of storage capacity are limitless.

“Our aim was to build a Library of Alexandria for humanity’s most precious knowledge that could never be burned. Thanks to our global community of storage miners, passionate storage clients, and accessible network tooling - we’re so much closer to achieving that vision, and bringing into existence the myriad new use cases as well. The Filecoin community - past, present, and future - deserves all the credit. They have contributed their talents, insights, hard work, and resources to reach this phenomenal milestone. Filecoin’s mission to create a decentralized, efficient, and robust foundation for humanity’s information is now a reality. “ Colin Evran, Ecosystem Lead, Filecoin

We hope you celebrate this milestone with us at Filecoin!

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