The IPFS project ‘Folder Protocol (FOL)’, contributing to scalability of Filecoin(FIL) noted for its innovative technology IPFS, is rising to a new icon in the blockchain ecosystem.
Filecoin is a web ecosystem token created by ‘Protocol Labs’ firm’s strategy to quickly expand the next-generation communication agreement ‘IPFS’ (Interplanetary File System) and is now the icon of the new Internet innovation, adding more than 5 billion files including various industries such as NASA and Netflix. IPFS is a blockchain based technology that completes the new era of web 3.0
However, there are some loopholes of Filecoin such as unexpected shutdowns of web servers, the chances for loss of web server networks, delays of server response, and 90% of the nodes being concentrated in China, which causes the server to reach its limit as users increase.
‘Folder Protocol’ is a decentralized data storage network for improving scalability.
Using 2nd layer technology on the mainnet of Filecoin, Folder Protocol has massively improved the procession of speed of IPFS/Filecoin distribution storage, which is designed to allow users to upload and download data from the storage quickly as well as to store and transfer data more efficiently.
In other words, it provides scalability by decentralizing centralized Filecoin nodes, which stores and exports more types and capacities of data efficiently. This can help anyone mine Folder coins easily along with establishing P2P network between data distribution algorithms and computers.
According to the official Folder Protocol team, users are connected to ‘client’ that operates just by installing programs on their computers. Anyone can participate in the network at a very low cost and receive rewards for node operation. This provides the users freedom to circulate the ecology of the system by providing them stable profits from interest and capital gains which are taken by selling Folder tokens as mining rewards for providing computing power to the exchange, or staking within Folder protocol.
FOL is currently listed on UNISWAP and currently in progress of expanding the ecosystem with more global exchanges in the near future.
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