AMA Recap: Folder Protocol x Enjoy My Hobby

On January 22th 2021, we had an AMA with Enjoy My Hobby Group on Telegram. During 4 years of operation, this has become one of the largest trading communities in Korea, where members can share investment and trading experiences, discuss many potential projects, airdrop programs as well as provide the most effective investment advice.

At Enjoy My Hobby Group, our CTO — Nagu Thogiti — went live to greet the community and gave insights to topics about Folderlabs, IPFS, and share some hot events of Folder Protocol in the upcoming time.

We would like to write a summary of the main points of the AMA session as below:

MC: Hello “EnjoyMyHobby” subscribers

We are very grateful to be conducting an AMA of “FOL” coin this time.

So this is Nagu Thogiti (@nagu168) CTO of Folderlabs Project

He has worked with AI teams from Goolgle, Adobe, Amazon, FaceBook, IBM, etc., and has been the Head of Analytic for “TeamViewer”

please introduce yourself and Folderlabs project

Nagu: My name is Nagu Thogiti, CTO of Folder Procotol. Before joining Folder Protocol, I had designed and developed blockchain protocols and dapps with heavy focus on the IPFS ecosystem, widely known for the use of Filecoin. I have a long experience of creating enterprise scale platforms and applications in the fields of big data, FinTech, blockchain, and artificial intelligence with more than 20 years of experience and professional accreditations from MIT. I have been involved in numerous projects with AI teams and engineers from Google, Adobe, Amazon, Facebook, and IBM and recently was head of analytics at TeamViewer and Research Advisor for AI Healthcare projects at National Taiwan University Hospitals (NTUH) and their IPFS-led privacy preserving computational projects.

The Folder Protocol is designed to be a layer-2 solution for decentralized storage protocols such as Filecoin-an incentive layer on top of IPFS, the advanced version of IPFS ecosystem which can provide storage infrastructure for any data. It is especially useful for decentralizing data, building and running distributed applications, and implementing data heavy smart contracts.

MC: What are the use cases of FOL token?

Nagu: FOL token is designed to be an unit of account for the Folder Protocol platform to enable enterprise scale decentralized storage and its applications.

MC: Which exchanges are FOL listed? Any other exhanges in plan for the future?

Nagu: FOL is currently listed in Flybit and Bitribe exchange. Addtionally it will be listed on many global exchanges in the near future. Please stay tuned.

FOL in Flybit: https://flybit.com/trade/KRW/FOL
FOL in Bitribe: https://www.bitribe.com/exchange/FOL/USDT

MC: Please explain in detail about FOL token. What is the token model?

Nagu: Folder Protocol network is designed to improve the file storing and retrieving speed on IPFS networks. Each peer that joins our network provides storage. File storing and retrieving are processed immediately, automatically, and securely on Folder Protocol since the device generates a variety of data that needs to be rapidly sent off the latest updated files.

IPFS relies on the Bitswap protocol to exchange blocks between nodes and the Distributed Hash Table (DHT) to store the pointer on the peer that has the actual file location and node information. Folder Protocol’s system is developed on the currently existing system but focusing on scaling up the storage system model.

MC: Please explain in detail about the compostion of FOL project. What is the relation with Filecoin and Foldercoin?

Nagu: Folder Protocol (FOL) is constructed to function as a second-layer for decentralized such as Filecoin’s mainnet network, seeking to safely store, send, and use larger batches of data with same level of efficiencies as Amazon/Google/Dropbox cloud storage solutions. Folder Protocol’s network benefits the users for the quicker retrieval and wider distribution of content, anyone can voluntarily and actively contribute to the Folder Protocol ecosystem by node operating, mining, and offering storages.

MC: What strengths does Folder Protocol have? / What are the advantages of Folderlabs to other alternatives in the Blockchain field?

Nagu: Current IPFS network:
1. Web servers shut down unexpectedly.
2. The network to the web server gets lost.
3. The size of a file requested to a web server is too large to be retrieved.
4. The web server loses files.
5. Too many clients requesting a web server at the same time.

Folder Protocol:
1. Host petabyte level of data sets distributed
2. Preventing essential file loss problems caused by an accident
3. Supports versioning and linking for large datasets
4. Support high-volume, high-definition, real-time media streaming
5. Enable large-scale data computing across organizations

Please feel free to follow us on our official channels below:

Official Website: https://www.folderlabs.io/
Telegram Channel: https://t.me/folderlabs_channel
Telegram Group: https://t.me/folderlabs
Twitter: https://twitter.com/folderlabs
Medium: https://medium.com/@folderlabs
Github: https://github.com/folderlabs/foldercoin