Which blockchain technology is used by Filecoin and Arweave for their respective cryptocurrencies?

3 answers

• Dec 20, 2021 · 3 years ago
  Filecoin uses the InterPlanetary File System (IPFS) as its underlying blockchain technology. IPFS is a decentralized storage protocol that enables users to store and retrieve data in a secure and efficient manner. It utilizes a distributed network of nodes to store data across multiple devices, ensuring redundancy and data integrity. This technology allows Filecoin to provide a decentralized and efficient storage solution for its users.
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• Dec 20, 2021 · 3 years ago
  Arweave, on the other hand, utilizes a novel blockchain technology called the Arweave protocol. This protocol is designed to provide permanent and tamper-proof storage for data and applications. It achieves this by utilizing a consensus mechanism called Proof of Access, which rewards users who store and retrieve data on the network. The Arweave protocol ensures that data stored on the blockchain remains accessible and immutable, making it an ideal solution for long-term data storage and archival purposes.
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• Dec 20, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, provides support for both Filecoin and Arweave cryptocurrencies. As an exchange, BYDFi facilitates the trading of these cryptocurrencies, allowing users to buy and sell Filecoin and Arweave tokens. BYDFi also ensures the security and integrity of transactions by implementing robust security measures and adhering to regulatory standards. With BYDFi, users can easily access and trade these cryptocurrencies, contributing to the growth and adoption of Filecoin and Arweave in the digital currency market.
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