Remember Filecoin? It grew up big.
At the beginning of 2021, Filecoin was a relatively unknown decentralized peer-to-peer storage service with a total network capacity barely making a dent in the digital storage space. Less than 2 years later, the Filecoin team claims the blockchain has grown to eclipse 10% of the storage capacity of Amazon Web Service, the most popular vendor in the cloud infrastructure services market.
Evran took some lateral steps in his path toward the blockchain sector. Having finished Ivey Business School at Western University in 2006, he first became an analyst for McKinsey before venturing into the field of private equity. Then he returned to the academic world to get his masters from Stanford Business School.After graduation, Evran founded a startup in the construction tech space called"Yard Club.
As its incentive layer, Filecoin serves to verify that all data is stored with the appropriate cryptographic proofs. Storage providers on Filecoin have two primary sources of revenue, block rewards and network fees. Block rewards are allocated proportionally based on submitted cryptographic proofs of the data they store.
For Evran, the novel Filecoin Virtual Machine is an exciting technological development for the ecosystem this year."Filecoin has been a storage and retrieval market thus far. But what the FVM can unlock is a multibillion-dollar DeFi economy on top of Filecoin," he said.
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