crypto.news
Decentralized content-sharing platform Solmedia has announced its integration of the Solana blockchain with the latest Filecoin on-chain InterPlanetary File System (IPFS) technology.
The enhancement, supported by Solmedia’s native token MEDIA, enables users to benefit from Solana’s high-speed blockchain infrastructure and Filecoin’s secure decentralized storage, which aims to ensure user content is protected and remains unaltered by unauthorized changes or access.
A senior representative from Solmedia shared that the company is focused on maintaining free speech and transparency in the Web 3.0 space. The use of Solana and Filecoin, in conjunction with the MEDIA token, is intended to provide users with control over their data and content-sharing experiences, aiming to sidestep 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, thus streamlining activities such as uploading, streaming, or accessing content.
You might also like: Solana surpasses Ethereum on DEX volume amid meme coins rally
The MEDIA token is meant to encourage user participation in the platform’s development, reflecting a community-led approach to content consumption that supports the platform’s mission to offer an environment free from censorship and promote a variety of perspectives.
Crypto.news reached out to the Solmedia team for more insights on the development but failed to hear back at the time of publication.
According to CoinMarketCap data, the MEDIA token’s value had increased by 20% over the past 24 hours, trading at $0.10668, with a trading volume of $13.8 million in the same timeframe.
Meanwhile, a March 21 report by Crypto.news highlights the growing global investor interest in blockchain ecosystems, with Solana leading the way.
The report indicates that Solana accounts for 49.3% of global investor interest, showcasing its significant impact on the blockchain community. Ethereum follows in second place, capturing 12.7% of investor interest.
Experts suggest that Ethereum’s brand awareness and solid reputation contribute to its popularity. Nonetheless, there is a noticeable shift in investor attention towards second-layer networks built on Ethereum, signaling evolving preferences in the blockchain sector.
Read more: Trezor X account compromised as hackers push phony Solana token