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![Filecoin](https://img.bitgetimg.com/multiLang/coinPriceLogo/e24778bc18a457deff6a6155302dfd861710608494681.png)
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About Filecoin(FIL)
About Filecoin
Filecoin is an open-source decentralized storage network. It harnesses unused hard drive space from its global community to create a secure and efficient data storage market. The project is aimed at revolutionizing the way we think about data storage, offering a decentralized alternative to conventional centralized storage options like Amazon S3.
Filecoin was developed by Protocol Labs and was first announced in 2017. Filecoin was scheduled to have its mainnet released in 2019 but had to postpone until October 2020. Built on a peer-to-peer network, Filecoin connects individuals who want to store data with those who have spare storage capacity.
In 2017, Filecoin achieved a remarkable milestone by successfully raising over US$200 million in just 30 minutes. This impressive feat positioned it as one of the largest Initial Coin Offerings (ICOs) of that period.
Resources
Whitepaper: https://filecoin.io/filecoin.pdf
Official website: https://filecoin.io/
How Does TrueUSD Work
Filecoin operates on a unique combination of cryptography, blockchain">blockchain technology, and peer-to-peer networking.
Data Storage
Clients, or those who want to store data, engage with miners, or those who have storage space to spare. The data is encrypted, split into pieces, and stored across different nodes, assuring redundancy and security.
Incentive Structure
Miners are compensated for their storage and retrieval services in FIL tokens, Filecoin's native cryptocurrency. Various proof systems ensure the integrity and availability of the data. These include Proof of Replication (PoRep) and Proof of Space-time (PoSt), which serve as guarantees that miners are faithfully storing the clients' data.
Retrieval
The decentralized network also enables efficient data retrieval. Retrieval miners compete to deliver stored data to clients, and speed and cost are optimized through a market-based system.
What is FIL Token?
FIL, or Filecoin Token, is the native cryptocurrency of the Filecoin network. It is integral to the economic structure of the platform. FIL has a hard cap maximum supply of 2 billion. At the moment, there are 438.68 million FIL tokens in circulation.
- Utility: FIL serves multiple functions within the Filecoin ecosystem. Clients use it to pay for storage and retrieval, and miners are rewarded in FIL for providing these services. It's also used in network governance and decision-making processes.
- Market Presence: FIL has established itself as a prominent cryptocurrency, being listed on major exchanges and witnessing considerable trading volumes.
- Economic Model: Filecoin's economic model ensures that the token's supply and demand align with the network's growth and utilization. The release of tokens is carefully calibrated, creating a balanced ecosystem.
Conclusion
Filecoin's innovation in decentralized storage symbolizes a significant shift in the digital landscape. Its robust technology, historical milestones, and the utility of the FIL token form an interconnected system that challenges traditional centralized data storage systems.
It's important to note that like any other cryptocurrencies, Filecoin carries its own risks and it's always wise to do your own research and exercise caution while investing.
FIL to local currency
Crypto calculator- 1 FIL to USD$4.04
- 1 FIL to JPY4.03732
- 1 FIL to VND4.03732
- 1 FIL to RUB4.03732
- 1 FIL to EUR (Español)4.03732
- 1 FIL to TRY4.03732
- 1 FIL to EUR (Italiano)4.03732
- 1 FIL to EUR (Français)4.03732
- 1 FIL to EUR (Deutsch)4.03732
- 1 FIL to CNY4.03732
- 1 FIL to TWD4.03732
- 1 FIL to EUR (Português)4.03732
- 1 FIL to IDR4.03732
- 1 FIL to THB4.03732
- 1 FIL to PLN4.03732
- 1 FIL to UAH4.03732
- 1 FIL to UZS4.03732
- 1 FIL to SAR4.03732
- 1 FIL to PHP4.03732
How to Buy Filecoin(FIL)
Create Your Free Bitget Account
Verify Your Account
Buy Filecoin (FIL)
Trade FIL perpetual futures
After having successfully signed up on Bitget and purchased USDT or FIL tokens, you can start trading derivatives, including FIL futures and margin trading to increase your income.
The current price of FIL is $4.04, with a 24h price change of -5.60%. Traders can profit by either going long or short onFIL futures.
Join FIL copy trading by following elite traders.
Filecoin news
See more![Solana-based GPU tokenization protocol Compute Labs raises pre-seed round at $30 million token valuation](https://img.bitgetimg.com/multiLang/image/social/fb0cb8b5f2cc8f15bf8ae6b6bedadc971720004946334.jpg)
Solana-based GPU tokenization protocol Compute Labs raises pre-seed round at $30 million token valuation
Quick Take Compute Labs has raised $3 million in a pre-seed funding round led by Protocol Labs. The round brought Compute Labs’ fully diluted token valuation to $30 million, founder Albert Z told The Block.
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Filecoin Social Data
In the last 24 hours, the social media sentiment score for Filecoin was 3, and the social media sentiment towards Filecoin price trend was Bullish. The overall Filecoin social media score was 0, which ranks 372 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Filecoin being mentioned with a frequency ratio of 0.01%, ranking 294 among all cryptocurrencies.
In the last 24 hours, there were a total of 877 unique users discussing Filecoin, with a total of Filecoin mentions of 123. However, compared to the previous 24-hour period, the number of unique users increase by 6%, and the total number of mentions has decrease by 59%.
On Twitter, there were a total of 1 tweets mentioning Filecoin in the last 24 hours. Among them, 100% are bullish on Filecoin, 0% are bearish on Filecoin, and 0% are neutral on Filecoin.
On Reddit, there were 53 posts mentioning Filecoin in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 6% .
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