Filecoin is a decentralized platform for data storage. The Filecoin project was launched by California-based technological company Protocol Labs in 2014. The main purpose of Filecoin is to create an efficient solution for storing data, which is based on protocols of decentralized network IPFS (InterPlanetary File System). IPFS was also developed by Protocol Labs to replace the existing HTTP with a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. According to Filecoin’s white paper, the main idea is that their users should install special software that allows them to store data on PC’s hardware. As a reward, users receive Filecoin and exchange them on other digital or fiat currencies. The Filecoin ICO was conducted in 2017. Filecoin mining is able to be done through their official software.
Filecoin’s sudden rise to the top 10 cryptocurrencies by market cap, however brief, points to its potential as it’s driven by community in China.
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Filecoin Foundation donates $10M in FIL tokens to Internet Archive
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Canada's Purpose Bitcoin ETF may be cutting into Grayscale's market share
Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill ...
Our Man in Shanghai: Filecoin the talk of the town, Polkadot and NFTs gain attention
Filecoin reached a $450 billion fully diluted market valuation as three major factors catalyzed a strong technical rally.
Filecoin market cap hits $450B after FIL price rallies above $230
If bulls can propel Bitcoin to a new all-time high, UNI, LUNA, THETA and FIL are likely to outperform their competitors.
Top 5 cryptocurrencies to watch this week: BTC, UNI, LUNA, THETA, FIL