We present a complete guide to understanding Filecoin (FIL) Crypto and it’s technology in the field of cryptocurrency development. We include helpful explanations, illustrated guides, historical data, and technical details. This article is brought to you by Digital Financial Market
Filecoin (FIL) Cryptocurrency
Filecoin is an open-source platform for File storage over the decentralized Filecoin Network. Using the FIL token, users can rent cloud storage or make transactions on through the network.
Built to make computer storage cheaper and more available by creating a Blockchain Solution, Filecoin can be earned by renting out storage space on devices through their process called mining (also called Data Mining).
Unique to other Cryptocurrencies, Filecoin uses 2 new methods of Proof supporting the Blockchain, Proof-of-Replication and Proof-of-Spacetime.
Key Points of Filecoin
- Intended to be the blockchain of Cloud Storage
- Uses unique proofs, Proof-of-Replication and Proof-of-Spacetime
- Fully Independent Blockchain, not Bitcoin-based or an Ethereum Token
- Decentralized platform for Memory, Storage and Files
Filecoin (FIL) Chart
Filecoin (FIL) Historical Price Chart
History of Filecoin
Filecoin was created by Protocol Labs, a company led by Juan Benet and funded by Yahoo’s Startup Accelerator Program as early as 2013.
They developed a concept for open-source cloud storage and implemented the ideas of a blockchain solution in 2017. Later that year, they funded the first Initial Coin Offering for Filecoin as an independent blockchain.
The project remained in prototype with no public Mainnet made available until its formal Public Coin launch in Late 2020. After the release of the Filecoin Mainnet in 2020, FIL grew in popularity reaching a 2021 high of about $190 per FIL Token.
Filecoin Partnership With Harvard
In August of 2022, Filecoin Foundation for Decentralized Web (FFDW) announced that they have partnered with Harvard University’s Library Innovation Lab for a project intended to preserve Digital Information and make information more accessible.
With this announcement, Chair of the Filecoin Foundation For Decentralized Web stated:
“FFDW is on a mission to preserve humanity’s most important information,”
-FFDW President Marta Belcher
See the Filecoin Foundation For Decentralized Web Official Site.
Filecoin FAQ
What Is Filecoin?
What Is Filecoin Crypto?
Is Filecoin Crypto A Good Investment?
Is Filecoin A Good Investment?
What is FIL Crypto?
Filecoin Crypto Analysis
How Do I Use Filecoin?
How To Buy Filecoin
Image Source: Filecoin Foundation – Fil.org
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