io.net expands Filecoin storage use cases through collaboration

On December 6, 2023, io.net, a prominent decentralized cloud service, made a noteworthy stride in the decentralized data storage realm by partnering with the Filecoin (FIL) community. 

This collaboration allows Filecoin Storage Providers (SPs) to broaden their use cases and revenue streams, enhancing the return on investment (ROI) for their hardware, as per the latest info shared with Finbold on December 6.

As a community-driven endeavor, io.net actively involves Filecoin SPs and the larger ecosystem, initiating the onboarding process with SPs to advance this objective. The platform has incorporated 1,500 GPUs from Filecoin SPs of over 17,000 GPUs that are now onboarded and operational.

Lately, the collaboration between io.net and the Filecoin community has grown stronger. Together, they are focused on broadening opportunities for Storage Providers (SPs) and other stakeholders within the Filecoin ecosystem.

Mutual support towards this collaboration

In August, Ahmad Shadid, the Founder and CEO of io.net, introduced the decentralized cloud service to Storage Providers (SPs) during a weekly Storage Provider Working Group Call. 

Subsequently, io.net sponsored the exclusive FIL Dev Summit in Singapore in September, where Shadid also presented. Additionally, he participated in the significant Filecoin community event FIL-Vegas in October.

Shadid voiced his support for future collaboration with the Filecoin community by saying:

“This particular initiative with Filecoin is not just about expanding use cases or diversifying income streams for hard-working storage providers. It’s about enriching the decentralized data economy as well and fostering a symbiotic relationship where both io.net and Filecoin SPs can grow and thrive together.”

He added:

“I believe that by leveraging the strengths of our respective technologies, we can unlock tremendous growth and drive innovation in the decentralized cloud and storage sectors.”

Meanwhile, Jonathan Victor, Ecosystem Lead of Protocol Labs, shared similar sentiments:

“Generating datasets in close proximity to storage hardware is naturally symbiotic for both ecosystems and sets the stage for fully protocol managed ML workflows. As io.net brings web2 demand to Filecoin’s SPs, it brings new capital flows into the Filecoin economy as well – and as Filecoin supports more datasets and distribution offerings, it can better serve the io.net community.”

This expanding partnership allows Filecoin SPs to serve as GPU suppliers for io.net, optimizing their hardware revenue for increased overall infrastructure efficiency. In doing so, the initiative unlocks new possibilities for Storage Providers, extending their reach beyond decentralized storage into areas like machine learning (ML) and advanced applications.