Filecoin
FIL$0.9476
Market Cap
$720.04M
Volume 24h
$88.86M
Vol / Market Cap
12.34%
Rank
#25
FIL Price Chart
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.
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.
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.
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.
High hardware costs for providers; faces fierce competition from cheap centralized storage providers like AWS.
