- The new system works in a few simple steps.
- Data is created on Avalanche’s C-Chain and sent to Filecoin via smart contracts.
- Filecoin stores the data and generates a unique Content Identifier (CID).
- Proofs verifying the data’s safe and unchanged storage are sent back to Avalanche on-chain.
The collaboration creates new commercial opportunities, as Avalanche developers will now be able to use Filecoin’s decentralized storage to power their applications. On the other side, Filecoin storage providers get access to new demand and money from Avalanche projects. This way, the collaboration aims to benefit both platforms by accelerating innovation and acceptance in the business Web3 economy. Avalanche developers can now tap into Filecoin’s decentralized storage services to power their apps. Meanwhile, Filecoin’s storage providers gain access to new demand and revenue from Avalanche projects.
Leaders from both companies see this as a major step forward. Ava Labs’ Cliff Yeo said, “By enabling developers to offload and validate data through decentralized infrastructure, we’re advancing the tooling required to build scalable, multi-chain applications with enterprise-grade reliability.” Marta Belcher of Filecoin Foundation emphasized that this integration is a critical step toward building interoperable infrastructure capable of meeting the rapidly growing data needs of modern web services.
- Franklin Templeton, Citigroup Turn to Solana for Blockchain-Based Financial Services
- Ethereum Wallet MetaMask Is Expanding to Bitcoin
- Citi, JP Morgan, Others Complete Tokenization Settlement Trials
- ENS domains Inks Deal with GoDaddy to Streamline Web3 Integration
- Ondo Finance Unveils Tokenization Platform to Bring Stocks, Bonds, and ETFs Onchain
- Solayer Launches First-Ever Yield-Bearing Stablecoin Backed by Treasury Bills on Solana