Folder Protocols (FOL) are cryptocurrencies to implement the scalability of decentralized storage blockchain projects, designed to enable secure, decentralizedstorage and efficient transfer of a larger amount of data using layer 2 solutions for decentralized protocols such as IPFS, etc.
Layer 2 is characterized by solving transaction processing speed and high transaction fees, including existing scalability problems, and easy implementation of information processing and sharing technologies by summarizing key information in a separate layer outside the main blockchain. In addition, due to the representative nature of IPFS, users can easily build P2P networks and participate in ecosystems through personal PCs to earn rewards.
Folder-Labs recruited blockchain expert Nagu Thogiti as its CTO, who developed many blockchain technology solutions using IPFS ecosystem for the decentralized data storage.He is an expert in designing innovative solutions for enterprise scale data intensive problems using Artificial Intelligence and Blockchain technologies. He holds several professional certifications from MIT in Big Data, Cybersecurity, IOT and Artificial Intelligence with more than 20 years of experience, working with large teams on a number of blockchain projects, as well as engineers from Google, Adobe, Amazon, Facebook, and IBM.
He shows his ambitions saying that “we will issue full ownership of data back to the user on IPFS as NFT(Non-fungible Token) and create a comprehensive platform based on Decentralized Finance(Defi) with NFT ownership as collateral.”
Meanwhile, Folder Protocols (FOL) can be traded in the USDT and BTC markets of Bittrex, one of the largest U.S. cryptocurrency exchanges, and also traded in a decentralized exchange, Uniswap.
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