The Filecoin token price has risen in price by more than 60% over the past seven days amid a stream of good news
On Saturday, March 27, the project announced that the coin can now be mined in conjunction with Livepeer. Co-mining is rare in the cryptocurrency world. Of the large projects, only Dogecoin and Livecoin cooperate in this way.
Users liked the news. However, this is just one of a series of favorable developments that have happened to the project over the past few days.
Filecoin’s creators explained why they need mining power integration. Filecoin and Livepeer are actively working with decentralized data networks. Filecoin works with most file types. Livepeer works in particular with video files. However, both projects use the same processes, so their mining requirements are similar. And both are guided by ASICs – specialized mining equipment.
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Miners earn money by storing video in blocks, and projects benefit by increasing the pool of miners.
Both companies also see prospects for further development: their collaboration can make edge computing available in web3. Edge computing is a form of distributed computing where some of it is done outside the data center.
In mobile telephony, this usually happens on the cellular network. Projects are looking at edge computing as one of the most promising use cases for decentralized platforms.
Stream of good news
A series of good news began for the project with the announcement of Grayscale. A major cryptocurrency asset manager announced the launch of the Filecoin fund on March 17. Grayscale also announced the launch of four more crypto funds. Basic Attention Token, Chainlink, Decentraland and Livepeer.
Since then, interest in the project has grown dramatically. Chinese cryptojournalist Colin Wu noted several other important events besides the launch of the Grayscale Foundation.
Filecoin surpassed $ 100, benefiting a large number of Chinese miners and investors. Reasons: the first investor token will be released over, Coinbase launched new storage tokens, the dual mining test of Filecoin and LPT started, the cooperation between Filecoin and LINK, etc
In particular, the expert drew attention to the influx of Chinese miners and users into the project in anticipation of the release of the first investment token. In addition, cryptocurrency exchange Coinbase has launched new storage tokens, and Filecoin and Chainlink (LINK) have announced a partnership.
Moreover, Wu noted that Filecoin has been moving asynchronously with Bitcoin lately. The drawdown of the first cryptocurrency did not affect the coin rate. On some exchanges, its market cap has surpassed Theta. In trading on March 27, Filecoin renewed its all-time high at $ 139.6. At the time of writing, the coin is trading at $ 134.5