$FIL, $STORJ, $SIA and $AR are all useful Web3 data storage solutions that provide forward-looking alternatives to current cloud providers. @Filecoin currently ranks first in terms of used storage and storage capacity:
1/ @Filecoin also has a vibrant ecosystem of over 330 projects, including NFTs and gaming. You can read more about this at messari.io/article/fileco….
2/ Another difference lies in data storage duration and scalability. @arweave is unique in its promise for perpetual storage but limited in scale while @Filecoin, @storj and @Sia__Foundation operate on a contract-based model––
–– so storage lasts as long as previously agreed upon between client and storage provider––which can also include agreements that store data in perpetuity.
3/ In terms of $, #Storj’s Tardigarde offers fixed payment plans similar to #Dropbox. #Arweave requires a one-time fee; #Filecoin & #SIA, on the other hand, do not provide fixed prices. The latter two operate on a marketplace system where storage providers compete for business.
4/ Ultimately, while all these networks are different, they are united in their aim of decentralizing the cloud industry. However, #Filecoin stands out among them not just because of its scale and cost competitiveness.
5/ #Filecoin is more like a Layer 1 protocol (like #Ethereum, #Polygon, #Solana) with possibilities beyond just storage, aligning with our vision for Web3 Data Economies. This will be especially true when @fvm comes online later this year.
6/ Do check out storageindex.io for more comparisons on these projects!
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@Filecoin today fulfills its value of being a dependable decentralized data storage solution, and seeks to expand its value with programmability through the FVM project. (A thread)
1/ FVM allows the Filecoin blockchain to unleash a proliferation of new services and tools that can be built and deployed on the network without requiring network upgrades, involvement from core implementation maintainers, changes in the embedded actors, or spec alterations.
2/ The release of smart contracts on Filecoin could provide huge benefits to both clients and providers; from enabling "repair providers" that automate the process of repeat storage deals for programmatic “fire and forget” storage, to on-chain storage onboarding contracts––
Too many $FIL in circulating supply? Here's why. (A thread)
1/ Sector onboarding on Filecoin has slowed down since the network’s peak, resulting in lower initial pledge locked as collateral.
2/ Since Filecoin has upgraded 10-25x in scalability, the network usage now isn't at its full potential. This results in a lower number of tokens being burned as network fees.
🚀 Update on @Filecoin this week: Higher average daily growth in storage capacity; growing number of Web3 clients (A thread)
1/ The share of Filecoin Plus clients in Web3 Use Cases increased from 33% to 38.6% this week, while active deals on Filecoin grew to 28.3 PiB (4.8% more than last week!)
Filecoin Network Storage Capacity saw higher average daily growth this week (from daily average growth of 22.23 PiB to 23.73 PiB)––increasing the network’s storage capacity to 15.02 EiB.