• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Filecoin logo

Filecoin

FIL
Official links
Tags
InfrastructureStorage

News

Current DOGE Market Situation: Analysis and Forecast

chest
DOGE has dropped by 1.78% in the last 24 hours. Analyzing current support and resistance levels.
user avatar

Giorgi Kostiuk

XRP Ledger: Major Updates and Rapid Tokenization Developments in Latin America

chest
XRP Ledger gains traction as plans for over $200 million asset tokenization emerge in Latin America.
user avatar

Giorgi Kostiuk

Ethereum: Analysis of Market Cap Exceeding TVL in DeFi

chest
Market analysis of Ethereum shows its market cap consistently exceeds TVL, indicating valuation dynamics in DeFi.
user avatar

Giorgi Kostiuk

The Future of Fair Gaming: Advantages of Provably Fair Crypto Casinos

chest
Provably fair crypto casinos are gaining player trust by ensuring transparency and fairness in gambling.
user avatar

Giorgi Kostiuk

What is Filecoin?

Filecoin — a decentralized storage system that aims to "store humanity's most important information."

Contents:

Description of Filecoin

Filecoin — a project to create a decentralized storage platform with an embedded cryptocurrency (Filecoin, FIL). Since 2014, it has been implementing the Protocol Labs blockchain startup, the developer of the IPFS system. The idea of ​​the project - to give some computer users the opportunity to earn FIL. It is assumed that the platform will use some IPFS components (IPLD, libp2p, libp2p pubsub) and work on the Proof-of-Spacetime (PoST) and Proof-of-Replication (PoRep) protocols. The first allows network participants to prove that they will have enough space to store information for a certain period, and the second helps to eliminate problems with storing multiple copies of the same data.

Platform benefits

Filecoin (FIL) allows data to be stored on a decentralized peer-to-peer network, making it more resistant to censorship, outages and hackers. The project also uses its own unique blockchain technology to incentivize and reward fair participants. Another unique feature of the project is its architecture.

Filecoin uses a two-node solution:

1 Storage nodes help to store data on the network. Filecoin encourages average users to decentralize.
2 The platform network also uses search nodes. They should be located near the storage nodes in the network, have high throughput and low latency. Search nodes earn when they are the fastest to find and retrieve a file for a user.

Filecoin also offers a unique business model for its customers. Users, uploading and hosting files, can bid on the open market. In this way, a dynamic balance of supply and demand is achieved, reflecting current market conditions and storage availability in the price of services.

Buying cryptocurrency

Protocol Labs describes Filecoin’s tokenomics as a “data marketplace” where users can sell their storage space to other users who want to rent. The maximum number of created tokens - 2 billion FIL. The best cryptocurrency exchanges to trade company shares are:

  • Binance;
  • OKX;
  • CoinTiger;
  • Huobi Global;
  • Bybit.

You can earn FIL tokens by participating in the two-node Filecoin system.

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.