Filecoin CEO and founder Juan Benet reported that the decentralized storage network exceeded expectations in large-scale storage and reached a capacity of 1 exabyte. This is way above even estimates for the size of the Netflix library.
Filecoin, which earned $ 200 million from its ICO in 2017, was launched in October this year. According to Benet, the decentralized blockchain network reached a storage capacity of 1 exabyte – about the size of Dropbox – when it made its initial public offering in 2018.
“They Said It Was Impossible”
“Achieving a level that can compete and struggle with traditional cloud systems is something many people say is impossible,” Benet said. “When we first started doing this, so many people laughed at us… They said you could never get a decentralized network that exceeds a few petabytes, maybe more than 10 petabytes. But now we have reached 1 exabyte. ”
Benet also added:
“An exabyte for those who lose the byte trace when they get higher than what’s available on an iPhone, a hundred times more than what people say is possible, and that’s just the beginning”
By comparison, Twitter generates about 4.3 petabytes or 0.0043 exabytes per year. Data company Zeenea estimated in March 2019 that Netflix had an archive of movies and TV series containing 60 petabytes of data. This FileCode is equivalent to 6% of the available capacity.