FI

Filecoin

FIL
StorageRank #25Filecoin

$0.9476

+1.63%24h
-5.19%7d

Market Cap

$720.04M

Volume 24h

$88.86M

Vol / Market Cap

12.34%

Rank

#25

FIL Price Chart

About Filecoin

Filecoin is a decentralized storage network that allows users to store and retrieve data securely.

Filecoin is a decentralized storage network that allows users to store and retrieve data securely by creating a global marketplace for unused storage space.

How It Works

A decentralized storage network that turns cloud storage into an algorithmic market. Users pay to store files on providers' spare hard drive space, and the system uses "Proof of Spacetime" to verify the data is still being stored.

Use Cases

Decentralized File Storage: Used by clients to pay for long-term or permanent data storage and by providers as collateral to ensure they are accurately hosting the data.

Tokenomics

Storage Marketplace: Miners earn tokens by providing verified storage space to clients. It is used as a payment for decentralized data storage, with a "Proof-of-Storage" model that ensures files are kept safe over long periods.

Risks & Considerations

High hardware costs for providers; faces fierce competition from cheap centralized storage providers like AWS.

Compare Cryptocurrencies: Filecoin

Storage

Cryptocurrency Categories →