Solana integrates Filecoin for better crypto data scalability

Solana integrated Filecoin to achieve better redundancy and scalability for a portion of its crypto data. Filecoin (FIL) has recorded a +15% pump in the last 24 hours.

Solana and Filecoin integration to decentralize the storage of its crypto data

Solanathe famous Proof-of-Stake blockchain, has announced the integration of Filecoin with the aim of decentralizing the storage of part of its crypto data.

“The integration of Solana with #Filecoin is a significant step towards moving away from centralized storage solutions and a notable step towards improving the reliability and scalability of the Solana blockchain. @solana is using Filecoin to make the history of its blocks more accessible and usable for infrastructure providers, explorers, indexers and anyone who needs historical access. By leveraging Filecoin’s decentralized storage capabilities, @solana can achieve data redundancy, scalability, and increased security while staying true to its decentralized ethos. This collaboration demonstrates the power of blockchain networks to create more robust and resilient ecosystems that benefit users and developers.”

In practice, by integrating the blockchain-based system for saving Filecoin files, Solana will be able to achieve better redundancy and scalability for a portion of your data.

Not only that, this Solana integration provides saving the block history, using Filecoin features. In this way, third-party applications that make use of it, such as infrastructure providers, explorers, indexers and others, have easier access to the Solana historian data he needs.

Solana integrates Filecoin for crypto data and FIL records a pump of +15% in the last 24 hours

The news of the integration of Filecoin on Solana seems to have been appreciated by FIL investors. In the last 24 hours, in fact, FIL has registered a price pump of +15%. Specifically, FIL passed from $6.66 to the current $7.75.

The 25th crypto by market capitalization, FIL also saw a +226% trading volume increase in the last 24 hours.

Anyway, the present price of FIL is still a lot far from its all-time high recorded in April 2021, at a price of over $191.

On the contrary, the fifth crypto Solana has seen the price of SOL drop -2.5% in the last 24 hours, although the trading volume still increased to +32%. At the time of writing, SOL is worth $109.95while its all-time high reached in November 2021 was $258.

Filecoin’s achievements outside the crypto sector

While Filecoin will therefore also be used by Solana, the blockchain-based system dedicated to data storage has also been chosen by other companies.

In fact, in September 2023, the renowned Australian medical organization with over 230 scientists and 23 laboratories, il Victor Chang Cardiac Research Institutehe chose Filecoin to store its vast reservoir of cardiac research data.

In reality, the migration of the Institute’s published public data to Filecoin began in September 2022.

The reason why Filecoin was chosen is precisely due to the use of blockchain, which it has made traditional on-premise and Cloud-based storage systems obsolete.