'Folder-Labs' announced that 'Folder Protocol', which is a decentralized storage blockchain project, will introduce a comprehensive platform that adds NFT and DeFi technologies.
Folder protocol is based on IPFS (Interplanetary File System), a data distributed storage and sharing protocol, and is a model that complements the scalability, privacy, interoperability, and speed of existing blockchain layers by introducing Layer 2 solutions.
Layer 2 is characterized by solving transaction processing speed and high transaction fees, including existing scalability problems, and easy implementation of information processing and sharing technologies by summarizing key information in a separate layer outside the main blockchain. In addition, due to the representative nature of IPFS, users can easily build P2P networks and participate in ecosystems through personal PCs to earn rewards.
In addition, it 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. This is a form of IPFS and NFT for loan services, which are representative of DeFi, and aims to create an ecosystem that can guarantee copyright and take stable profits through the NFT platform.
An official said, "We predict that ownership and license of digital files stored in an eternal distributed storage system will be linked organically with NFT to realize the scarcity of digital data value, and layer 2 solutions will improve scalability and other problems to provide differentiated services."
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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