• Cronos Labs has announced a partnership with Protocol Labs, the creator of Filecoin and IPFS.
• 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 Labs Partners With Protocol Labs
Cronos Labs has recently announced a partnership with Protocol Labs, the creator of Filecoin and IPFS, to boost Web 3 adoption. The deal will provide finances and other tools for companies building on their platform, as well as mentorship and technical support for creators in the Cronos Accelerator Program.
Filecoin is a leading decentralized storage platform used by many developers, while IPFS is an open source peer-to-peer file system used to store information securely. Recently, Filecoin launched its Virtual Machine (FVM) which is slowly gaining traction. In addition to this, they released Filecoin Web Services which provides Kubernetes containers for developers.
Cronos Lab is one of the biggest DeFi chains in the world with over $416 million in total value locked (TVL). Some of its top dApps are Tectonic, VVS Finance and MM Finance among others. It also receives backing from Crypto.com which is one of the biggest crypto exchanges worldwide.
Implications Of The Partnership
The partnership between Cronos Lab and Protocol Lab could have a significant impact on blockchain startups that are part of their accelerator program. Companies that are part of this initiative can benefit from robust support from both parties which can potentially help them achieve success within their respective fields such as Decentralized Finance (DeFi), GameFi, SocialFi or web3 infrastructure projects.. Additionally, it could shape the future of web technology through computing breakthroughs brought about by this collaboration.
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