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Filecoin to Launch Distributed Storage Planet In Multiverse Ecosystem

Filecoin to Launch Distributed Storage Planet In Multiverse Ecosystem

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18 October 2021, Singapore – Multiverse™, in celebration of Filecoin Orbit, announces plans to launch a Filecoin planet in the Multiverse ecosystem. This enables all planet founders in Multiverse to store and backup their data via decentralized storage. 

Filecoin’s decentralized protocol will minimise the risk of data loss caused by the currently common practice of storing data in centralized cloud services provided by third parties. The network is robust and authentic, as data is confirmed every 24 hours and published to ensure data health. Planet developers rent hard drive space from the Filecoin planet, and storage providers on the Filecoin planet can in turn provide storage space to store files. Filecoin also offers a permanence layer based on a foundation of cryptographic proofs to ensure the durability and integrity of the data over time. 

“We are thrilled to work with Filecoin to create a planet on Multiverse to provide secure and distributed storage for all the planet projects in our Multiverse ecosystem. Users can leverage on Filecoin’s preset economic incentive mechanism to have peace of mind that their data will be stored and can be easily retrieved in a reliable manner,” said Cliff Szu, co-founder of Multiverse Labs.  

Jonathan Victor from Protocol Labs said, “We are excited about this collaboration with Multiverse as we want to contribute to the ever growing startup ecosystem for the distributed web by enabling teams with open and sound infrastructure. ”

Multiverse has also attracted researchers from Stanford University and The Johns Hopkins University. Some of the world’s most respected companies have already set up planet projects on Multiverse and are benefitting from the machine learning technology it offers. 

About Multiverse™

Powered by A.I., Multiverse™ decentralized crowdfunding ecosystem enables the community to easily fund ground-up projects (planets) with their own custom tokens and decentralized economic systems. For more information, visit https://multiverse.ai/

About Filecoin

Filecoin, the world’s largest decentralized network, allows users to store, request, and transfer data via a verifiable marketplace. Filecoin is completely open-source, enabling people from all over the world to participate. The Filecoin protocol runs on an advanced and novel proof system — a combination of Proof of Spacetime (PoSt) and Proof of Replication (PoRep), to provide unmatched efficiency and reliability. Filecoin’s advanced technology provides a robust foundation to store the world’s most valuable data sets. An alternative to costly cloud storage, the Filecoin network offers efficiently priced and geographically decentralized storage, minimizing financial barriers, and allowing users to take advantage of its unmatched network capabilities.

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