Filecoin is a decentralized storage network and marketplace that allows users to sell their unused storage space in exchange for the Filecoin native utility token (FIL). Users can use FIL to pay to store their data securely on the network. The network is built on top of the InterPlanetary File System (IPFS) peer-to-peer protocol, with miners securing data through proof of replication and proof of spacetime cryptographic proofs.

Funded by a $200 million ICO in 2017 and launched in October 2020, Filecoin is helping create a more efficient and less expensive data storage alternative to large centralized providers. These centralized providers often create expensive bottlenecks and additional recurring fees for end users.

Expanding Filecoin Offerings to io.net

The partnership with io.net was first announced in December 2023, opening the door for Filecoin’s utility expansion beyond data storage. io.net is a decentralized GPU aggregator for compute-intensive tasks like AI, machine learning (ML), and gaming. By partnering with io.net, Filecoin storage providers (SP) can supply access to their unused GPU compute and their unused data storage. This expands Filecoin’s utility and creates an additional revenue stream for its data providers.

The partnership has already integrated over 1,500 enterprise GPUs from Filecoin SPs to the io.net network, providing additional compute to the io.net end users and helping diversify the Filecoin ecosystem.

Strengthening the io.net Network

The partnership strengthens the io.net compute stack by providing additional GPU compute power and contributing to its further decentralization. By tapping into Filecoin’s decentralized network of computers, io.net is creating a hybrid DePIN model that bridges the Web2 and Web3 ecosystems. Filecoin already provides secure data storage to several Web2 companies.

This ability expands the utility of both Filecoin and io.net, making the two projects more appealing and further showcasing Filecoin’s real-world utility to industries within Web2.

The Future of Decentralized Storage and Compute

As both networks expand, the partnership’s future becomes stronger. The more GPUs io.net can have on its network, the more decentralized it becomes, the more varied its tasks can be, and the more it can challenge large centralized compute players while being the go-to destination for upcoming AI projects.

The partnership strengthens Filecoin’s ecosystem by helping create a more sustainable model. It offers its data storage providers an additional revenue stream for their unused GPU compute. This enables the Filecoin network to scale into the hypergrowth AI industry, expanding its offerings and further building its reputation as a reliable alternative to expensive centralized providers.

‍