Connect with us

Ethereum

ConsenSys and Protocol Labs team up to integrate Filecoin into Ethereum’s dev tools

Published

2 Monaten ago

on



Blockchain firm ConsenSys has made official a collaboration with open-source software laboratory Protocol Labs to integrate Filecoin’s marketplace for data storage with ConsenSys’ Ethereum product stack.

According to the announcement, Filecoin’s miners, developers, and users of the network will be able to access ConsenSys’ development tools like Infura, MetaMask and others to integrate with Ethereum’s decentralized finance ecosystem.

On October 15th, at block 148,888, the Filecoin network launched its public mainnet, featuring a capacity of more than 600 Petabytes of data, as well as 600 active data miners, and 230 projects interacting with the storage protocol.

Given these figures, James Beck, global public relations lead at ConsenSys, told Cointelegraph that Ethereum dApps and projects can become “more fully decentralized by storing relevant data on Filecoin rather than relying on a centralized cloud service.”

Beck commented on why this integration is critical for Filecoin:

“Applications on Ethereum need a decentralized data storage solution, which is why integrations with Infura and MetaMask are critical to enable easy-use for developers to integrate Filecoin/IPFS with Ethereum. (…). ConsenSys Codefi, which provides tokenization, trading, and compliance products for the DeFi sector, has added support for Filecoin and will use its Activate platform to catalyze the launch of the Filecoin network.”

Through Infura, Codefi, MetaMask, and other ConsenSys projects, Joseph Lubin, founder and CEO of ConsenSys, stated that developers will “easily integrate IPFS and Filecoin functionality” into their apps and “seamlessly interoperate with Ethereum-based functionality and other apps at every layer of the stack, from the protocol layer to the financial layer with DeFi.”

On October 21, Codefi Activate also launched Filecoin Storage, a dashboard for the file storage system available through a web app and an API. According to Filecoin, the goal is to make price discovery for storage on the Filecoin network “simple and transparent.” A representative from Filecoin also shared with Cointelegraph some of their near-term plans:

“We also have ongoing collaborative work between ConsenSys R&D and Mesh R&D, creating a secondary retrieval market, in which users could retrieve data that is reliably stored using Filecoin. The secondary retrieval market will broaden participation in the Filecoin ecosystem by enabling a range of devices to retrieve files, including Web browsers and phones.”



Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Deine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert.

Ethereum

Crypto enthusiasts could make $122K per year mining Ethereum with this setup

Published

20 Minuten ago

on

Dezember 29, 2020

By



Simon Byrne has taken at-home crypto mining to a whole new level as he looks to capitalize on Ethereum’s (ETH) enormous price potential. 

As first reported by Anthony Garreffa, Byrne has set up an ETH mining rig consisting of 78 GeForce RTX 3080 graphics cards. Although the RTX 3080 is marketed toward high-end PC gamers, crypto miners are using these powerful specs to enhance their capabilities.

With each card using roughly 300W of power, Byrne’s setup uses 23.4KW of energy. And that doesn’t even factor in associated costs like AC. All said, his electricity bill is estimated to run up to around $2,166 per month.

The RTX 3080 launched in September at a price of $699, but supply shortages have caused the per-unit cost to swell to $1,199. At the shortage price, that’s a price tag of $93,522 for Byrne’s setup.

Still, these costs could be offset by the operation’s mining capability. One GeForce RTX 3080 graphic card has a hash rate of around 83MH/s using Ethash, which should generate roughly 0.22236870 ETH per month, according to Garreffa. All 78 cards would therefore generate 17.3 ETH per month, which is equivalent to around $12,352 at today’s prices.

Stripping away the electricity costs, that’s roughly $10,200 per month or $122,000 per year. And that’s not factoring in Ethereum’s price potential during the next bull market.

Ether’s price zipped past $700 over the weekend, the first such move since mid-2018. The return of altseason, as some have predicted, could send ETH’s price even higher over the medium term as investors cycle from Bitcoin to other large-cap cryptocurrencies.