Filecoin

Also known as FIL

Filecoin (⨎) is a cryptocurrency intended to be a blockchain-based cooperative digital storage and data retrieval method. It was developed by Protocol Labs and shares some ideas from InterPlanetary File System allowing users to rent unused hard drive space. Filecoin is an open protocol and uses a blockchain to record participation in the network. Transactions are made using the blockchain's currency, FIL. The blockchain is based on both proof of-replication and proof of space-time.

Key facts

Cryptocurrency.author: Protocol Labs, Juan Benet
Cryptocurrency.currency_name: Filecoin
Cryptocurrency.image_1: Filecoin.svg
Cryptocurrency.image_title_1: Prevailing filecoin logo
Cryptocurrency.alt1: Prevailing filecoin logo
Cryptocurrency.plural: filecoins
Cryptocurrency.symbol: ⨎
Cryptocurrency.ticker_symbol: FIL
Cryptocurrency.implementations: , ,
Cryptocurrency.code_repository: https://github.com/filecoin-project
Cryptocurrency.white_paper: "Filecoin: A Decentralized Storage Network", 2017-07-19 "Filecoin: A Cryptocurrency Operated File Storage Network", 2014-07-15

via Wikipedia infobox

Wikidata facts

Official website: filecoin.io

Show 5 more facts

inception: 2014-07-15
social media followers: 49000
cryptocurrency code: FIL
source code repository URL: github.com/filecoin-project
data size: 704

Sources (9)

via Wikidata · CC0

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Article

6 sections

Contents

History
Philanthropy
See also
Notes
References
External links

Filecoins are paid to miners (termed "storage providers" - SPs) who provide storage for clients, as opposed to Bitcoin where miners secure the network and maintain consensus. The payment amount depends on the network schedule, storage sectors quantity and size, adherence to FIL+ and deals made with clients, and participation in the network requires putting tokens in collateral.