FIL is a decentralized information storage system. With the exception of centralized cloud storage providers like Amazon Web Services or Cloudflare, Filecoin uses its decentralized characteristics to maintain the authenticity of information’s placement. This is the reason why it can be easily retrievable and difficult to censor the internet.
Individuals can become independent administrators of their information. The decentralized storing solutions like FIL start making the internet more approachable to users all over the globe. Filecoin incentivizes players to perform truthfully to save as much information as possible. This is because participation in the Filecoin system by hashing and keeping is immediately tied to receiving additional block incentives.
On a narrow band chain, Polygon can process up to 65,000 operations per second. This includes a transaction verification period of fewer than 2 seconds. On a unified basic blockchain, the system also enables the building of worldwide accessible decentralized financial apps.
Two prominent crypto networks have established a collaboration to stimulate development in the areas of non-fungible tokens, gaming, and the Metaverse. Colin Wu, a Chinese cryptocurrency writer, and blogger have disseminated the information that Filecoin and Polygon, two famous blockchain services, are extending their relationship in the areas of NFTs, Metaverse, and gaming.
Wu gave a hyperlink to a current Filecoin blog article announcing the announcement. According to the article, Filecoin and Polygon have formed a partnership. This is to enable programmers and NFT ventures in the Polygon platform to interact with the InterPlanetary File System or IPFS as well as Filecoin in order to accelerate development in the NFT, gaming, and metaverse area.
Polygon Deepens Filecoin Relationship
Under the continuation of the cooperation, Filecoin and Polygon have started to offer awards and hackathons. This is to help development organizations and NFT projects interface with Filecoin and the InterPlanetary File System using the Polygon blockchain.
Polygon has been part of the so-called Ethereum destroyers. They have gained popularity among NFT initiatives and DLT entertainment developers. This can be done by seeking to tackle ETH constraints such as rising gas prices and sluggish deal confirmation.
Following thereafter, Polygon Productions was founded to assist game makers and NFT companies operating with Web 3.0. At about the same moment, IPFS and FIL have piqued the curiosity of a significant group of teams working on play-to-earn and NFT-related applications. Both the systems enable proven and decentralized means to hold metadata and material such as films.
New Chances for NFT and Metaverse Developers
The year before, FIL and Polygon collaborated to host the Mars Hackathon attended by over 1,500 development teams. They are the ones looking to make new dapps utilizing the Filecoin and Polygon Bridge. Among them were dapps who concentrate on NFTs, Metaverse, visual photography, as well as in other areas.
Polygon also enables builders to create NFTs based on Polygon and deploy them on IPFS and Filecoin. This has prompted the creation of a specific lesson aimed at developers. For programs qualifying for combining IPFS and Filecoin, there was a presentation of $5,000 award.
“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”
