Cronos partners with Filecoin’s Protocol Labs to boost Web 3 adoption

Cronos partners with Filecoin’s Protocol Labs to boost Web 3 adoption

By Crispus Nyaga - min read
  • Cronos Labs has announced a partnership with Protocol Labs.

  • Protocol Labs is the creator of Filecoin and IPFS.

Cronos Labs announced a major partnership with Protocol Labs, the creator of Filecoin, the popular decentralized storage platform. The deal will see the two companies provide finances and other tools to companies building in their ecosystem.

Creators in the Cronos Accelerator Program will receive mentorship and technical support from the two companies. Cronos is now implementing the third cohort of the accelerator program. In the first one, winners received $30,000 upfront and access to another $300k in funding. In a statement, Ruben Amenyogbo of Protocol Labs said:

“This partnership has tremendous potential to provide robust support and empowerment to the current and future cohorts of blockchain startups, fostering the growth of decentralized finance, GameFi, SocialFi, and web3 infrastructure projects. By pushing boundaries and spearheading computing breakthroughs, we aim to shape the future of the web and create a transformative impact.”

Cronos and Protocol Labs are both major players in the industry. Filecoin has built a leading decentralized storage platform that is used by many developers. It recently launched the Filecoin Virtual Machine (FVM), which is slowly gaining traction.

At the same time, the developers recently launched Filecoin Web Services, which provides tools like Kubernetes and containers to developers. 

Cronos Labs, on the other hand, is the 11th biggest DeFi chains in the world with over $416 million in total value locked (TVL). Some of the top dApps in the ecosystem are Tectonic, VVS Finance.and MM Finance among others. Cronos Labs is backed by Crypto.com, one of the biggest crypto exchanges in the world.

How to buy Filecoin

Kraken

Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.

Uphold

Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services