![]() ![]() Five stakeholders will be able to trade tokens: developers, clients, miners, token holders and ecosystem partners. Protocol Labs describes Filecoin’s tokenomics, or economic model, as a “market for data” where users can sell their storage space to other users, who are looking to rent. How Many Filecoin (FIL) Coins Are There in Circulation? See terms you don’t know? Check out our glossary on Alexandria. We’ve also prepared a list of the 5 things that decentralized storage aims to fix. ![]() Since participating in the Filecoin network by mining and storing is directly related to winning more block rewards, Filecoin incentives participants to act honestly and store as much data as possible Related Pages:Ĭheck out CMC Alexandria’ deep dive into Filecoin. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor.ĭecentralized storage systems like Filecoin allow people to be their own custodians of their data, as well as makes the web more accessible to people worldwide. What Makes Filecoin Unique?įilecoin aims to store data in a decentralized manner. After founding Protocol Labs in May 2014, he attended Y Combinator in the summer of 2014 with the intention of supporting both IPFS and Filecoin, as well as other projects. Benet is an American computer scientist who studied at Stanford University. Who Are the Founders of Filecoin?įilecoin was founded by Juan Benet, who also created the Interplanetary File System. The blockchain is based on both proof-of-replication and proof-of-spacetime. ![]() Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020. What Is Filecoin (FIL)?įilecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering ( ICO) in 2017, and initially planned a launch date for mid-2019. To find out even more about this project, check out our deep dive of Filecoin. ![]()
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