Decentralized storage network Filecoin has surpassed 1 exabyte of storage capacity on the network, according to Protocol Labs CEO and founder Juan Benet, who spoke to Decrypt.
- Benet revealed that the network had reached 1 exabyte of storage since the network launched in 2017 and that the network was exceeding expectations
- 1 exabyte is more than all the data Twitter produces in a year, as well as streaming service Netflix
- Benet said that now that the network had proved critics wrong with respect to how much data could be stored, the focus would shift to making sure the storage capacity was used
- After 3 years of development, Filecoin launched on the mainnet on Oct. 15 to much fanfare, resulting in a massive boost to the FIL token price
- However, there have been a few bumps since launch, with miners complaining that the mining economic model was infeasible; the network has since undergone an upgrade to compensate miners