Linkstorage Awarded Chainlink-Filecoin Joint Grant To Create Blockchain Data Storage Protocol
In 2021, Chainlink and Filecoin launched a joint grant initiative to accelerate the development of hybrid smart contracts that combine Chainlink decentralized oracles and Filecoin decentralized storage within a single application. The joint grant initiative supports teams building hybrid smart contract applications powered by tamper-proof file storage and universal connectivity. In essence, these co-sponsored grants are designed to help extend the Web3 stack beyond on-chain computation into decentralized off-chain computation, data, and storage.
With this in mind, we’re excited to announce that Linkstorage has been awarded a Chainlink-Filecoin Joint Grant to build a unified data storage protocol that enables developers to synchronize, track, and monitor data between blockchains and IPFS/Filecoin through a Chainlink External Adapter. Web3 developers will be able to use the Linkstorage protocol to save large amounts of cryptographically proven, tamper-proof data onto IPFS and Filecoin in a secure and cost-effective manner. As part of this grant, the Linkstorage team will also create a unified dashboard for easily tracking and monitoring cross-chain dApp data through a single interface.
Logs are often used to capture what’s happening in a system, helping developers to debug applications and detect specific events. The Ethereum Virtual Machine (EVM) has a logging functionality used to “write” data to a structure outside smart contracts, which dApps can query through event logs. However, these event logs come with restrictions—for example, a limit of three indexed parameters and a maximum of 17 parameters. In addition, other blockchain architectures may not offer such event logging functionality, meaning developers must store critical data using centralized servers or other suboptimal alternatives.
As hybrid smart contract applications become more advanced and generate more data, the need for tamper-proof storage for large amounts of data is increasing, necessitating the need for greater storage capacity that maintains the tamper-resistance of blockchains. Using Chainlink’s bidirectional communication capabilities, the Linkstorage protocol will enable seamless communication between external blockchains and IPFS/Filecoin, ultimately extending the immutable data storage capabilities of smart contracts in the multi-chain ecosystem.
The Linkstorage team has many years of blockchain-related project management experience, with extensive expertise in dApp development on Ethereum, IPFS, and Filecoin. The team is also deeply familiar with using Chainlink oracles in smart contracts, making them an ideal candidate for creating a data storage protocol using Chainlink and Filecoin.
The source code and documentation for this protocol will be published on the Linkstorage GitHub. The Linkstorage team intends to continue maintaining the protocol in the future and encourages the community to provide feedback and suggestions to support the continued enhancement of the protocol.
“We’re excited to be awarded a Chainlink-Filecoin Joint Grant for the creation of a unified data storage protocol that enables dApps to sync, track, and monitor cross-chain data using Chainlink and Filecoin,” said Victor Feng, a Linkstorage team member. “As a team with extensive experience with blockchain technology and Ethereum, IPFS, and Filecoin app development, we look forward to creating tools that increase the adoption of Chainlink oracles and advance the development of cross-chain smart contracts.”
Through the Chainlink Community Grants program, we look forward to continuing to empower more Chainlink ecosystem teams and researchers who are both researching and building key tools and infrastructure that accelerate the development of hybrid smart contracts and secure oracle networks. We will continue supporting the community as a key driver of Chainlink’s rapid growth, because only together can we make hybrid smart contracts into the dominant form of digital agreement.
About the Chainlink Grant Program
If you want to learn more about the Grant Program, read this blog post that further expands upon its goals and the criteria for submission. If you would like to participate in the Chainlink Grant Program, please apply here. Chainlink Community Grants are provided in cash and/or LINK.