• Latest
  • Trending
  • All
This Partnership May Help Filecoin Miners to Go Public

This Partnership May Help Filecoin Miners to Go Public

March 16, 2023
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

September 24, 2023
A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

September 24, 2023
Ethereum Trumps Tron, BNB Chain As The Most Active Network By Fees Generated

Ethereum Staking Momentum Falling, What’s Going On?

September 24, 2023
LTC to dip below $60; QUBE to observe a 6,000% surge

LTC to dip below $60; QUBE to observe a 6,000% surge

September 24, 2023
Cryptocurrency Price Today: Bitcoin, Ethereum See Gains As Chainlink Becomes Top Gainer

Cryptocurrency Price Today: Bitcoin, Ethereum See Gains As Chainlink Becomes Top Gainer

September 24, 2023
Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings

Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings

September 24, 2023
Why Bitcoin’s network expansion is not reflecting in BTC’s price

Why Bitcoin’s network expansion is not reflecting in BTC’s price

September 24, 2023
FTX Sues Ex-Employees of Salameda as It Seeks to Recover $157M

FTX Sues Ex-Employees of Salameda as It Seeks to Recover $157M

September 24, 2023
Elizabeth Warren Blasts Bitcoin Mining For Hurting American Wallets And Enriching Crypto Execs By Benzinga

Venezuela authorities seize Bitcoin mining machines from notorious prison  By Crypto.news

September 24, 2023
Borroe.Finance and Dogecoin on the rise in Q4 2023

Borroe.Finance and Dogecoin on the rise in Q4 2023

September 24, 2023
Looking back: 2022 on ethereum.org

Development update #4 – ethereum.org

September 24, 2023
Jak wiele będziesz musiał dziś zapłacić – Bitcoin Cash, Cardano, Ripple, Litecoin oraz EOS? – kryptowaluty 23 września

Jak wiele będziesz musiał dziś zapłacić – Bitcoin Cash, Cardano, Ripple, Litecoin oraz EOS? – kryptowaluty 23 września

September 24, 2023
Sunday, September 24, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Crypto Mining

This Partnership May Help Filecoin Miners to Go Public

by Cuevas Antonio
March 16, 2023
in Crypto Mining
0
This Partnership May Help Filecoin Miners to Go Public
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


  • The team-up of an accounting platform with Protocol Labs will help Filecoin miners go public.
  • This partnership will make Filecoin miners able to generate accounting reports.

Cryptio, an accounting platform partnered with Protocol Labs will help Filecoin (FIL) miners generate accounting reports. These reports must pass their Public Company Accounting Oversight Board (PCAOB) financial audits to become so.

Protocol Labs, Inc. is known for network protocol research, development, and deployment lab for network protocols. And at present, Cryptio provides accounting infrastructure for over 300 enterprises, including MetaMask, 1inch, and Chivo, across 12 blockchains, including Ethereum (ETH) and Bitcoin (BTC).

The software of Cryptio helps crypto companies with accounting, audit, and tax software. As mentioned in a press release, it will allow Filecoin miners to extract auditable transaction logs from its chain.

Cryptio’s Effort for Filecoin Miners

As mentioned in the press release, “Miners can now import all on-chain activity from Filecoin and complete accounting, reporting, tax, and audit preparation to the high standard required by auditors and regulators.”

Filecoin aims to “store humanity’s most important information,” and works as a decentralized storage system. Its native currency $FIL powers the whole network including all processes. The clients pay for transactions in FIL tokens while miners place FIL as collateral, guaranteeing their services. According to Filecoin’s official site, at present there are more than 4,000 storage providers (SP) on the Filecoin network.

Unlike Bitcoin, Filecoin doesn’t own many dedicated miners that are currently publicly traded. Bitcoin (BTC) has a number of mining firms that are listed on the public stock exchanges such as Marathon Digital (MARA) and Riot Platform (RIOT). And amid the recent crypto winter, the publicly traded bitcoin miners have seen a massive exodus from investors. This further included a fall off in BTC prices and rise in energy costs for the mining firms.

Although Cryptio seems committed to providing the accounting service, whether a miner decides to go public or not.

Hemant Pandit, Head of Revenue at Cryptio said “Filecoin is a very complex chain and hard to ‘index,’ unlike Bitcoin.” Cryptio has built this financial infrastructure that allows them to do their accounting and reporting in an auditable way, whether Filecoin miners want to go public or not.”

“It was difficult to go public without this infrastructure. The [Securities and Exchange Commission] has higher audit standards for public companies. There have been large Filecoin miners (en route to going public) who were blocked by this previously,” as Pandit further added.

At press time, Filecoin price is $6.69 with a 24-hour trading volume of $993.90 million. Filecoin is up 7.05% in the last 24 hours, with a current market cap of $2.70 billion.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

Latest posts by Andrew Smith (see all)



Source link

Tags: FilecoinMinersPartnershipPublic
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
ChatGPT is Being Used to Make ‘Quality Scams’

ChatGPT is Being Used to Make ‘Quality Scams’

March 20, 2023
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

September 24, 2023
A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

September 24, 2023
Ethereum Trumps Tron, BNB Chain As The Most Active Network By Fees Generated

Ethereum Staking Momentum Falling, What’s Going On?

September 24, 2023

Recent News

Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

September 24, 2023
A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

A New Meme Coin Is Taking Over Biggies Like Dogecoin (DOGE) and Shiba Inu (SHIB); Why Are Investors Rallying Behind Everlodge (ELDG)

September 24, 2023
Ethereum Trumps Tron, BNB Chain As The Most Active Network By Fees Generated

Ethereum Staking Momentum Falling, What’s Going On?

September 24, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Blockchain Games
  • Business
  • Crypto
  • Crypto Mining
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • Defi
  • Dogecoin
  • Economy
  • Education
  • Entertainment
  • Ethereum
  • Featured
  • Gambling
  • Governance
  • Health
  • Lifestyle
  • Litecoin
  • Market
  • News
  • Uncategorized
  • Web 3.0
  • World

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved