Coin: FILECOIN (FIL)

Filecoin is a decentralized data storage network that allows users to sell their excess storage using blockchain technology.

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Tokenomics
Security
Scalability
Decentralisation
Applications
Team & Developers
Usage & Adoption
Community Strength
Overall Rating

Investors:

357 Investments, Boost Venture Capital, RRE Ventures, Notation Capital, Carnaby Capital, Visary Capital, Ausum Ventures, Blockchain Capital, Pantera Capital, Digital Currency Group, Union Square Ventures, Sequoia Capital, Winklevoss Capital.

1D+0.56% 14D+0.56%
7D-3.23% 200D -3.23%
30D+21.54% 1Y+21.54%
Open 24H$295
High 24H$302
Low 24H$293
Last Price$297
TotalBNB 163.28 M
Mkt.Cap$48.49 B
Vol. 24HBNB 129.46 K
Vol. 24H$38.55 M
Open: High: Low: Close:
Candlestick FIL/USDT

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Filecoin is a decentralized data storage network that allows users to sell their excess storage on an open platform. Officially launched in October 2020 by Protocol Labs, the Filecoin blockchain records transactions to verify file storage and transfer FIL, the platforms native cryptocurrency. Furthermore, it acts as an incentive layer for the InterPlanetary File System (IPFS), the peer-to-peer file transfer system, which instead of using IP addresses and centralized servers to store data, it uses hash-addressed content structures.

Filecoin also uses Powergate, a storage management platform built via API integration, to deploy a complex decentralized storage system for both Filecoin and IPFS. Similar to Bitcoin, Filecoin is secured by proof-of-work, however this work is specifically related to the storage of data. It is restricted to proving that a miner has stored data for a specific duration and replication. This is achieved with two new types of proof-of-work: proof-of-spacetime (PoSt) and proof-of-replication (PoRep).

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