FIL LAGOS 2024, a premier gathering of blockchain enthusiasts, industry leaders, and developers, successfully concluded its second edition at Zone Tech Park, Gbagada, Lagos.
The event themed “Empowering Africa’s Digital Future: Innovations in the Filecoin Ecosystem”, which brought together over 150 participants, featured a lineup of sessions that spanned the latest trends and innovations in the decentralized and web3 ecosystem.
The event kicked off with an inspiring welcome address from FIL Lagos Convener and Regional Lead, Filecoin Orbit Community, Africa/Middle East, Enoch Mbaebie, who set the tone for the day by acknowledging the role of the Filecoin Foundation and other ecosystem partners who have created an enabling environment for empowering Africa’s digital future.
He emphasized that the FIL Lagos 2024 event is more than just a presence but for participants to contribute to the ecosystem through shared thoughts and innovative projects.
“I want all of us to take the opportunity in the filecoin ecosystem as we upskill, upgrade and scale up our projects. Today we are looking at empowering the future of African technology via exploring the filecoin ecosystem.”
Enoch recalled the impact of the maiden edition of the event and how it has increased the demand for the Filecoin ecosystem.
This was followed by a virtual session taken by Juan Benet, CEO of Protocol Labs and creator of Filecoin. In his session, he gave an overview of the Filecoin ecosystem, emphasizing its decentralized storage capabilities and how it will impact the blockchain ecosystem. He also discussed the future of Web3
One of the highlights of the day was a Fireside Chat with Engr. David Lumala, CTO,Greenant.farm anchored by Enoch Mbaebie.
Lumala discussed the consensus mechanism around the Proof of Replication (PoRep) and Proof of Space-Time (PoSt) as it relates to the Filecoin ecosystem.
In his explanation, PoRep ensures that data is uniquely stored by each participant, and they can prove that they are not just making up that they have it. Invariably, PoRep is a way to prove that a storage provider has truly created and is keeping an exact and unique copy of the data.
In decentralized storage systems like Filecoin, data is stored across many different computers (or nodes). The concepts of PoRep help maintain trust and reliability in the system. (PoRep) ensures that each node that says it is storing data is storing a unique and complete copy of it.
Talking further about PoSt in decentralized storage ensures that storage providers are keeping the data for a required amount of time. They prove not just that they have the data, but that they have been storing it consistently over time.
(PoSt) ensures that these nodes are storing the data over the time they agreed to, not just momentarily.
Both of these proofs help create a secure, trustworthy, and decentralized network where you can confidently store data knowing it’s both safe and reliably kept over time.
Lumala also talked about the Storage and Retrieval market limitation and how this can affect scalability. As a decentralized storage network, Filecoin enables users to rent out unused hard drive space, and others to store their data securely on a distributed network. The idea is to create a marketplace where people can offer storage (Storage Market) and where that stored data can be retrieved when needed (Retrieval Market).
These two limitations can affect the scalability of the Filecoin storage by lowering participation, user experience and network growth.
Lumala calls for addressing these issues to make the system easier to use, offering better incentives for retrieval, and ensuring that the network can handle massive users and data efficiently.
Fil Lagos 2024 also featured an engaging Panel Session titled “The Future of Web3 & Blockchain in Africa |Building a Decentralized Future for Africa,” which brought together a diverse group of industry and community experts, including Ayanfeoluwa Olajide, Lawyer in Blockchain; Timothy Ovie, Head of Community, Community Leads Africa; Femi Adegolu CEO, Bchain Africa; Yuccee Blessings, Lead, Filecoin Orbit Ibadan; Purity Ochuko, Community manager/ Digital marketer; Olaoluwa Oluwashina, O3 Finance School and Mitchell Obiyor Anointein.
The panel session was moderated by Olabisi Idiong offered a variety of perspectives and sparked lively discussions among the attendees.
Throughout the day, attendees were treated to thought-provoking Speaking Sessions, where leaders and innovators shared their expertise including
Other speakers include
Harsh Gujarati, Founder Tradinget Ltd, spoke Decentralized storage and Web3
Porter Stowell, Head of Community, Storage Providers, discussed The role of decentralized storage in web3
These sessions provided attendees with actionable insights and a forward-looking perspective on the future of technology.
FIL Lagos 2024 concluded with a closing Remark from Enoch Mbaebie, who thanked the participants, speakers, and organizers for their contributions and emphasized the importance of continued dialogue and collaboration in driving innovation in the tech industry.
FIL Lagos 2024 was another round of an impactful blockchain narrative, providing a platform for meaningful discussions, networking, and the exchange of ideas. The event showcased the vibrant energy of the Web3 community and its commitment to pushing the boundaries of what is possible through blockchain technology.
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