Lay Off the Drama, Filecoin Just Got Cut!

Amid the crypto winter and economic downturn, Filecoin’s creator Protocol Labs, just announced layoffs. The Internet is all a-buzz with speculation and drama.

What’s Up with Filecoin?

Filecoin is a decentralized storage platform designed specifically for applications that require data permanence and availability. Oh yeah, and it’s also a cryptocurrency backed by storage node miners preserving the network. Anyway, the protocol layer of the platform which handles interactions between miners, clients and the Filecoin network is managed by Protocol Labs.

So What Happened?

Apparently Protocol Labs just announced layoffs to “weather the storm” during this crypto winter and economic downturn. Some of the social media hype and memes about the news were so cringeworthy…

Why Does it Matter?

It’s sad to see people lose their jobs like this, but this situation also matters because how it’s resolved can actually affect the development of Filecoin. In the blockchain industry, people are still learning how big decisions like this might affect the success of their projects. So can we all please just take a moment to be more mindful when talking about layoffs?

What Should We Do?

One thing’s for sure- we gotta do something! So here’s 5 things you can do to help Filecoin weather this storm:

  • Educate yourself on Filecoin and the importance of decentralized storage platforms.

  • Join the Filecoin community and show your support.

  • Speak up about the importance of this project to your friends, family, and colleagues.

  • Create awesome content about Filecoin.

  • Fund Filecoin development and miners.

In the end, if we all get together and support the Filecoin project, we can help this disruptive storage network make it through these tough times.