Filecoin Green Unveils Web3 Data Storage Solution for Carbon Offsets

Filecoin Green has successfully launched CO2.Storage, the first Web3 data storage solution to enhance the development of environmental assets like carbon offsets to reduce the harmful impacts existing technologies have on the environment.

Timeline of Filecoin

Project addresses need for standardization and data availability in tokenized carbon credits, expanding voluntary carbon offset markets reliably and transparently NEW YORK--(BUSINESS WIRE)--Filecoin Green announced today the launch of CO2.

This summer, Europe was ablaze. At one point in August, an area one-fifth the size of Belgium was on fire. Temperatures in London, UK, surged past 40°C (104°F) in July – the highest on record. In July, over 2,000 people died from heat-related causes in Spain and Portugal.

This year the crypto market has witnessed several ups and downs. Many have speculated that the blockchain industry will not recover from its current downward slope. Cryptocurrencies like Filecoin (FIL) and Polygon Network (MATIC), which started strong, are now on a downward trend.

The cryptocurrency market can be surprising and lucrative, leaving investors searching for the right tokens to purchase. After thorough digging, we have found three blockchain cryptocurrencies in the market that might be worth your money.

The latest Filecoin price analysis confirms that a bullish trend has been dominating the charts for the 24-hours. A rise in price has been observed in the last 8 hours as well, which is quite encouraging for the buyers.

Decline and primarily depreciation was the story of the Filecoin [FIL] till we hit Q3 of 2022. Interestingly, the decentralized storage network recorded the first positive revenue growth since the HyperDrive upgrade.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. FIL approached its all-time low levels near the $5 baseline support.

Regarding blockchain technology, file sharing is a vital aspect of all functionality, and Filecoin is a pioneer in the sector. The distinctive approach for this process is the decentralized nature of maintaining the process.

According to a CoinDesk report, decentralised filesharing protocol Filecoin saw an almost sevenfold increase in data suppliers since the start of the year, with up to 7,000 new developers building applications on top of the protocol. At a Filecoin event in Singapore, co-lead at Protocol Labs Colin Evran said the network's storage providers were increasing at a rate of 20% each month, with most activity in North America, Korea and Hong Kong.

Filecoin price analysis shows that the market sentiment is bearish, and the price may continue to fall. The strongest resistance for FIL/USD is present at $5.93 and support is at $5.73.