Decentralized content sharing platform Solmedia has announced the integration of the Solana blockchain with the latest Filecoin on-chain InterPlanetary File System (IPFS) technology.
The enhancement, backed by Solmedia’s native token MEDIA, allows users to take advantage of Solana’s fast blockchain infrastructure and Filecoin’s secure decentralized storage, which aims to ensure that user content is protected and remains unchanged by unauthorized changes or access.
A senior Solmedia representative said the company is focused on upholding freedom of expression and transparency in the Web 3.0 space. The use of Solana and Filecoin, in combination with the MEDIA token, aims to give users control over their data and content sharing experiences, with the aim of circumventing censorship and biased information.
The adoption of Solana and Filecoin technologies aims to improve user experiences by offering fast transaction speeds, lower fees and reliable decentralized storage, streamlining activities such as uploading, streaming or accessing content.
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The MEDIA Token aims to encourage user participation in the development of the platform and reflects a community-led approach to content consumption that supports the platform’s mission to provide an environment free from censorship and promote a diversity of perspectives.
Crypto.news reached out to the Solmedia team for more insights on the development, but did not receive a response at the time of publication.
According to CoinMarketCap data, the value of the MEDIA token was up 20% over the past 24 hours, trading at $0.10668, with a trading volume of $13.8 million in the same time frame.
Meanwhile, a March 21 report from Crypto.news highlights global investors’ growing interest in blockchain ecosystems, with Solana leading the way.
The report indicates that Solana is responsible for 49.3% of global investor interest, demonstrating its significant impact on the blockchain community. Ethereum follows in second place with 12.7% of investor interest.
Experts suggest that Ethereum’s brand awareness and solid reputation contribute to its popularity. Nevertheless, there is a noticeable shift in investor attention towards second-tier networks built on Ethereum, indicating changing preferences in the blockchain sector.
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