Scaling New Heights: Protocol Labs Joins Forces with Edgevana to Propel Filecoin's Storage Capacity

$5 million Target Crowdfunding Campaign Aims to Amplify Storage Capacity and Access

PALO ALTO, Calif., Aug. 3, 2023 /PRNewswire/ -- Protocol Labs, an open-source R&D lab that builds protocols, tools, and services to radically improve the internet, today announced a partnership with Edgevana, a company revolutionizing frictionless protocol participation. The collaboration aims to scale Filecoin's storage capacity to new heights. In a testament to their commitment to the initiative and ongoing support for Edgevana, Protocol Labs has pledged an initial investment of $500,000 towards creating a seamless onboarding flow to attract more storage providers (SPs).

IDC's Global DataSphere Forecast projects global data production and replication will reach 181 zettabytes in 2025 — an increase from 64.2 zettabytes of data in 2020, a tenfold increase from 6.5 zettabytes in 2012. The explosive growth of data in recent years has necessitated the need for scalable and reliable storage solutions, and Filecoin decentralized storage network has emerged as a groundbreaking decentralized protocol that harnesses the power of blockchain technology. Recognizing the tremendous potential of Filecoin to transform data storage, Edgevana and Protocol Labs have joined forces to expedite the protocol's expansion and meet the evolving digital landscape needs.

This collaboration between Edgevana and Protocol Labs showcases a shared commitment to democratizing access to data storage and fostering innovation within the decentralized ecosystem. By leveraging Edgevana's expertise in cloud infrastructure and Protocol Labs' cutting-edge technology, the partnership aims to redefine the boundaries of what is possible in the realm of decentralized storage.

"We are thrilled to partner with Protocol Labs in this groundbreaking initiative," said Subhan Jahromi, Co-Founder and COO of Edgevana. "The exponential growth of data presents unprecedented challenges, and by combining our resources and expertise, we believe we can take Filecoin to new heights, by creating a seamless experience to attract new storage providers to the Filecoin network, setting a benchmark for decentralized storage solutions."

Stefaan Vervaet, Head of Network Growth at Protocol Labs, stated: "Our aim is to help entrepreneurs by reducing the onboarding friction as a new storage provider, enabling them to focus on building the new disruptive services that will help catapult Filecoin and Web3 into the enterprise market. We are excited to see the new Edgevana program come to life and the support and innovation it will foster for new entrants looking to enter the Filecoin ecosystem."

The crowdfunding campaign is set to launch on August 10, 2023. Participants will have various options to contribute via different tiers. Detailed information about the campaign, including how to participate, will be available on the official websites of Edgevana (https://nebula.edgevana.com/).

About Protocol Labs

Protocol Labs is an open-source research, development, and deployment laboratory that builds protocols, tools, and services to radically improve the internet. Protocol Labs' projects that are designed to fortify and democratize the web include IPFS, Filecoin, libp2p, and more. A fully distributed organization,  Protocol Labs is dedicated to driving breakthroughs in computing to push humanity forward.

About Edgevana

Edgevana is a platform that powers the next generation of the internet for everyday users with simplicity in mind. Users can access and participate in multiple protocols with our one-click-to-deploy features, exclusive incentive programs, and our partnership marketplace which creates a one-stop-shop experience to drive both Web2 and Web3 ecosystem adoption. For more information, visit www.edgevana.com.

SOURCE Protocol Labs