Filecoin fil
What is Filecoin?
Filecoin is a peer-to-peer decentralized storage network where clients pay storage providers to store data and providers submit cryptographic proofs that storage remains available.
What problem does Filecoin solve?
Traditional cloud storage is centralized and lacks open price competition and verifiable durability. Filecoin creates an open market for storage with economic incentives and proofs.
How does Filecoin work?
Clients and providers negotiate deals covering data size, price, duration and collateral. Providers use Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt) to prove storage. FIL is used for payments, rewards, fees, and collateral.
Key facts
- Native token: FIL
- Max supply: 2 billion FIL
- Mainnet: August 24, 2020
- Sector sizes: 32 GiB and 64 GiB
- PoRep and PoSt proofs
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Frequently asked questions
What is FIL used for?
FIL pays storage providers, rewards network work, pays fees, and serves as collateral.
How does Filecoin prove storage?
PoRep proves a unique copy was made; PoSt proves storage over time.
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