Will Filecoin assist with Solana's information accessibility points?

Journalist

Posted: February 18, 2024

Solana would use Filecoin to make its block historical past extra accessible to customers.
SOL dropped 3.55% within the final 24 hours.

In a bid to enhance the safety and accessibility of its blockchain information, Solana [SOL], a sensible contracts community, cast an vital partnership with decentralized storage community Filecoin [FIL].

Solana integrates Filecoin

The combination marked a major transfer away from centralized storage options and a rising choice for blockchain-based storage mediums.

Offering additional particulars in regards to the partnership, Filecoin stated,

“Solana is using Filecoin to make its block historical past extra accessible and usable for infrastructure suppliers, explorers, indexers, and anybody needing historic entry.”

Solana co-founder Anatoly Yakovenko reacted enthusiastically to the event and thanked the stakeholders for his or her contribution to getting the combination accomplished.

Versus counting on a single server beneath a centralized entity’s management, information on decentralized storage options is saved on numerous nodes in a community.

The importance of the combination

Solana, as we all know, processes numerous transactions every day, and the blockchain dimension has been rising quickly over the previous few years.

An X (previously Twitter) consumer, Mikko Ohtamaa, pegged Solana’s total blockchain historical past to be a whopping 200 Terabytes (TB). Word that AMBCrypto couldn’t independently confirm this information.

SOL retraces in a bull rally

Whereas the deal excited Web3 proponents and founders, the identical couldn’t be stated about Solana’s native token, SOL. The fifth-largest cryptocurrency dropped 3.55% within the final 24 hours, information from CoinMarketCap confirmed.

How a lot are 1,10,100 SOLs value at the moment?

SOL hit its yearly excessive of $116 on the fifteenth of February, fueled by a basic bullish feeling out there in addition to some strikes particular to Solana’s ecosystem.

Nonetheless, the ascent was halted, as impatient merchants determined to profit-take, pulling SOL all the way down to $108.

Regardless of seemingly optimistic sentiment, Futures market merchants opened extra bearish positions for SOL, AMBCrypto’s evaluation of Coinglass information revealed.