10 November 2020, 18:44 0 1 Reading time: 1 min. Sasha Kosovan
Gemini Crypt Currency Exchange is developing Wrapped Filecoin (wFIL), a blockaded version of the Filecoin decentralised data storage platform (FIL) coin.
On its blog, Gemini said it was looking for an etheric developer who wants to integrate wFIL into its Bitcoin Billionaire own product or platform.
Once the project is complete, users will be able to convert FIL to wFIL at a ratio of 1:1. After that, wFIL can be transferred to any air address.
FIL tokens will store the Gemini custodial service with „full transparency“. The exchange claims that users will be able to check that the amount of FIL stored on the exchange equals the wFIL tokens in circulation.
The Filecoin network is „a decentralised alternative to Amazon Web Services“. In 2017, the project raised $257 million during the ICO. „The decentralised model offers a compelling alternative to existing centralised cloud services,“ Gemini says.