Market Meditations | May 26, 2022
Filecoin has partnered with Lockheed Martin, a world-leading contractor in the aerospace and defense industry, to bring decentralized file storage to the moon. The Filecoin Foundation’s mission is to store humanity’s most important information, but this collaboration could mean storing extraterrestrial and intergalactic information as well.
- Marta Belcher, the president of the Filecoin Foundation has explained that today’s internet model wasn’t made for space.
- Clicking a link now requires that data be retrieved from a centralized server and if you were on the moon this data retrieval from earth would cause a multi-second delay.
- The foundational technology of Filecoin is Interplanetary File System or IPFS, a decentralized protocol for storing and sharing data using content-ids.
- IPFS allows multiple computers to store the same files so that if one were to be unavailable for some reason, the data could be retrieved from another source.
- You can also retrieve data from the closest source, reducing lag time. This could be especially helpful if another computer on the moon had already downloaded the data you want to retrieve because it would only have to travel a few miles as opposed to thousands of miles.
- Web 3 projects commonly prefer the decentralized IPFS protocol over the traditional centralized storage solutions such as Google or Amazon.
At a time when the market is still trembling from billions of dollars that evaporated with the catastrophic collapse of LUNA and UST, Filecoin may be the one cryptocurrency with an actual moon mission on the roadmap!