Filecoin is a decentralized storage system, a peer-to-peer storage network where users pay for data storage and distribution services in $FIL. Filecoin is open-source and decentralized, with a blockchain that records commitments made by the network’s participants, and transactions made using FIL, the blockchain’s native currency.On the Filecoin platform, developers have the opportunity to create cloud file storage services like Dropbox or iCloud, and anyone can join Filecoin and start storing their data or earn money by providing space for someone else’s funds. The creators of Filecoin use their blockchain technology to run the network and their token with their own consensus.
Filecoin Launched FWS Alternative to Amazon Web Services For Decentralized Applications
Filecoin unveiled the release of Filecoin Web Services (FWS), which aims to create an open-source option to compete with AWS, Google Cloud, and Azure. The FWS technology stack offered by Filecoin comprises of different elements like computing, storage, and network resources. These components can be utilised by developers to create decentralised applications.
What is Filecoin Web Services?
FWS (Filecoin Web Services) is a compute and storage solution that uses the Filecoin Network. The decentralised storage network Filecoin offers rewards and income. By combining computing, storage, and networking capabilities, developers may use this technological stack to build decentralised apps. Scalable, flexible, and secure components are available through Filecoin Web Services for a range of use cases.
They aim to combine the excellent development experience offered by the cloud and the open-source, transparent incentivization layers found in decentralised networks.
Can Filecoin Price Reach New Highs?
While FWS has the potential to be enormous for Filecoin and Investors alike. filecoin is currently ranked 29th on the cryptocurrency market and has a market valuation of $2,296,550,697. If adoption of Filecoin Web Services becomes widespread, as seems likely, Filecoin Has the potential to Make its Place top 10 Cryptocurrencies.
Read more about Filecoin FWS on their Medium Here : https://medium.com/@fw.services/announcing-fws-5e874e949fc6
