Filecoin price is today $ 207.99 with a 24-hour trading volume of $ 7,465,123,363. The FIL price has risen 34.3% in the past 24 hours. It has a circulation supply of 63 million FIL coins and a maximum supply of 1.98 billion. Huobi Global is currently the most active market trading it.
What is Filecoin?
Filecoin is a decentralized storage network based on the IPFS protocol (Interplanetary File Storage). It is designed to use unused storage worldwide in an efficient storage market so that users can pay for inexpensive storage. The goal is to ensure that the file storage is persistent and distributed across the web. Compare this with a centralized cloud storage solution such as Amazon Web Services, Google Cloud or Dropbox, where data is stored on servers of these private companies.
Filecoin (FIL or ⨎) is also the currency of the decentralized storage network. Customers who want to access storage will have to pay for storage in Filecoin. Nodes that provide storage for the network are in turn paid for their service in Filecoin.
What is IPFS?
IPFS stands for Interplanetary File Storage, a peer-to-peer storage and file system protocol developed by Protocol Labs. When a file is uploaded to the IPFS network, the file is assigned a unique signature and multiple nodes can host all or part of that file. These files can be requested by any user with access to the address via the unique signature. Since each node can store a copy of the file, it is distributed, thereby stabilizing the existence of the file on the Internet. Many have viewed IPFS as just as important as the bittorrent protocol created by Bram Cohen.
What was the Filecoin ICO price?
The Filecoin Initial Coin Offering (ICO) price started at $ 1 and rose by $ 1 per $ 40 million, a maximum of $ 6 per token. The ICO was conducted on August 10, 2017 and the Filecoin team successfully raised over $ 200 million in funding.
Who are the founders of Filecoin?
Protocol Labs is the company behind Filecoin, founded by Juan Benet.
Is Filecoin on Ethereum?
No, Filecoin has its own blockchain network that specializes in network storage.
Is Filecoin live?
Yes, Filecoin is already running live on the mainnet, which started on October 15, 2020
Who are Filecoin’s competitors?
There are other storage networks that also provide distributed file storage with incentives for cryptocurrencies like Storj, Siacoin, BitTorrent, Arweave and other coins in the storage sector.