The Filecoin Foundation transferred 50,000 FIL to the nonprofit behind the Internet Archive portal to support the development of a decentralized internet.
As of writing, the token’s value is estimated at $10.15 million, according to CoinGecko.
“We expect that new technologies such as Filecoin will revolutionize data storage and decentralize it,” said in an interview with The Block, the project’s founder Bruyster Kael.
According to Marta Belcher, chief counsel at Protocol Labs, which is developing Filecoin, the Internet Archive site uses the tokens to build distributed web technologies that will be distinguished by their speed.
Kael noted that the Internet Archive aims to smooth the transition from the Internet to a new decentralized network. Since 2015 the organization has run a series of seminars for this purpose. To build an archive of books, music and video, staff have employed IFPS, WebTorrent and other solutions.
IPFS instead of HTTP — the future of the decentralized Internet?
Earlier ForkLog reported that Filecoin network capacity reached 2.5 billion gigabytes. That is equivalent to 11,250 copies of Wikipedia or 47 copies of Internet Archive. As of writing, the figure stood at 3.8 billion gigabytes.
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