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What is Protocol Labs? | ZebPay


Protocol Labs is an open-source research and development lab for crypto network protocols. The lab has projects that will change the internet. Filecoin and IPFS are the two most famous examples! Open source organizations have worked wonders in the computer science world for the past three decades. Linux is proof of open source software. With the invention of Bitcoin, numerous open-source organizations such as Ethereum, Hyperledger Foundation, Hydrachain, Eris etc. have emerged. These organizations have used the efforts of their communities to develop great projects that have worked wonders. Protocol Labs is one such organization. Let’s dive in! What is Protocol Labs? Protocol Labs (PL) was founded in 2014 by Juan Benet to improve the blockchain technology offering. Consequently, improving the Internet. Protocol Labs is also part of the YCombinator S14 program. At its core, Protocol Labs is an open-source network protocol research, implementation, and development lab. In recent years, they have worked extensively on crypto projects that push human capabilities through technology. Their established projects include IPFS, Filecoin, libp2p, Testground, IPLD, Multiformats, SourceCred, ProtoSchools, and drand. Collectively, these projects will help us build a solid foundation for our digital future. The company itself promotes to be a fully distributed company. What they mean by this is that their team (of over 100 members) is working remotely. Usually they work in the open air to improve the internet as new developments take place in the computing world. They have a wide range of partnerships with companies across the industry. Some of their collaborations include Brave, ChainSafe, Dapper, Dover, Fleek and Wolfram. Protocol Labs Projects: IPFS The two main projects, IPFS and Filecoin, were in the pipeline in 2013, even before Protocol Labs had even started. These two projects led to the establishment of Protocol Labs a year later. Let’s go through them one by one! First IPFS, a protocol that helps to store, address and transfer data peer-to-peer. It is designed to replace the classic HTTP of the Internet. It uses a content addressing to identify and link the information instead of using the HTTP protocol. IPFS currently serves millions of end users and developers. The IPFS paper can be found here! Protocol Labs Projects: Filecoin Finally, Filecoin, a decentralized storage network powered by cryptocurrency. It uses the free space on its users’ devices and allows other users to store data. It also keeps the data safe. In return, the users can also earn Filecoin tokens in exchange for the storage service. It’s literally Airbnb for storage space. It is also one of the leading projects in the cryptocurrency world right now! You can find the Filecoin paper here!
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