News Hub

Filecoin’s decentralised cloud storage network breaks one million TB milestone

Written by Wed 25 Nov 2020

Distributing the world’s data storage necessary to counter cloud oligopoly, claims decentralised storage startup

Decentralised cloud storage startup Filecoin announced its network has achieved one Exabyte of worldwide storage capacity.

Launched in 2014, Filecoin touts its platform as a more secure and cost-effective cloud storage competitor to the likes of Box, AWS and Google Cloud.

The decentralised storage network, much like rival Storj, rewards users who offer excess capacity to others on the network. Filecoin dubs these storage nodes “storage miners” which must also prove they have stored data reliably over time to be reimbursed.

One Exabyte, or EB, is equivalent to 1 billion gigabytes. For perspective, most smartphones come with 64GB storage – .0000000064 of an Exabyte. Filecoin’s capacity could store 4,500 Wikipedias, 290 million movies at 1080p quality, and 19 copies of the entire Internet Archive (we could go on).

The company reckons its decentralised model is a far more secure way of preserving “critically important” public information than the centralised approach of storing data in hyperscale or colocation data centres. Decentralisation reduces the threat of damage, loss, theft, firewall breach or attack, the company claims.

The datasets hosted on Filecoin include open access scientific data, creative commons media, and historical archives, including a copy of the Wikipedia database and Berkley’s Self Driving Data.

“Our aim was to build a Library of Alexandria for humanity’s most precious knowledge that could never be burned. Thanks to our global community of storage miners, passionate storage clients, and accessible network tooling – we’re so much closer to achieving that vision, and bringing into existence the myriad new use cases as well,” said Colin Evran, Ecosystem Lead at Filecoin.

“Filecoin’s mission to create a decentralized, efficient, and robust foundation for humanity’s information is now a reality.”

Written by Wed 25 Nov 2020


cloud storage decentralisation
Send us a correction Send us a news tip