KOWLOON, HONG KONG / ACCESSWIRE / June 22, 2021 / 'Folder-Labs' announced that 'Folder Protocol', which is a decentralized storage blockchain project, will launch NFT combined platform. It is expecting synergy from linking IPFS technology with NFT.
Folder Protocol, layer-2 solution for decentralized storage solutions, is a good alternative when privacy, security, decentralizing the trust are important factors in users' storage decision. Currently IPFS is the main choice for many developers for the decentralized storage, however, the current IPFS has several issues for moving large data or operating enterprise scale performance.
Folder Protocol can solve those issues by providing a set of Cryptographic security keys to interact with the network. User's data is hashed with one's own security keys and on top of this, the blockchain ledger will provide additional guarantees of open governance, transparency, immutability and credible ecosystem.
Specially, Folderlabs is working on create an enterprise level decentralized storage infrastructure for data intensive applications on blockchain. Besides storage services, Folder Network provides application layer where people can build data intensive applications on top of the decentralized storage.
In addition, is about to launch a service that can create NFTs with rare items such as art and games stored in folder storage and get loans as collateral. It aims to solve problems such as copyright infringement, lack of content and exhibition space, and to create a genuine decentralized storage ecosystem.
Nagu Thogiti, the CTO of Folderlabs, proposed that 'only NFTs stored in IPFS can guarantee true ownership since it is a decentralized storage protocol that can store large amounts of data in various situations and ensure the data is not tampered with', also he shows his ambitions saying that 'we are specifically targeting the enterprise level scalability, performance and very low latency for IPFS based decentralized storage. Our focus in data intensive applications on the blockchain, not a consumer or single developer use case.'
Folder Protocols can be traded on the USDT and BTC markets of Bittrex, the world's largest U.S. cryptocurrency exchange, as well as on the decentralized exchange Uniswap.
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