Defense contractor Lockheed Martin and the Filecoin Foundation have partnered to demonstrate the InterPlanetary File System (IPFS) in space, the pair announced on Monday at the World Economic Forum in Davos, Switzerland.
See related article: Filecoin explained: Decentralizing cloud storage for Web 3.0
Fast facts
- Filecoin is the economic incentive layer of the distributed storage and data sharing network IPFS and the Filecoin Foundation is the organization that facilitates the network.
- The partnership hopes blockchain application in space will reduce the latency between communicating with nodes in orbit.
- “We need to develop the technology to support a long-term presence in space without having to rely entirely on Earth-based communications and data storage,” said Joe Landon, vice president of advanced programs development at Lockheed Martin Space.
- Most satellites communicate directly with Earth but as humans venture further into space, the vast distances are expected to cause communication delays of up to minutes at a time, which satellites operating as data relays intend to improve.
- Filecoin’s price jumped by more than 2% overnight in Asia before retreating to trade at US$8.15 at press time.
- The World Economic Forum’s annual meeting in Davos is usually held in January, but is running from May 22-26 this year, due to Covid-19-related delays.
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