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FileCoin

FileCoin

FIL
#75
$0.9691Up 19.95 percent($0.16)

Key Stats

Market Cap$802.26MUp 19.95 percent
Volume (24h)$264.08M
Fully Diluted Value$1.94B
Vol/Mkt Cap (24h)32.92%
Total Supply827.78M FIL
Max Supply2.00B FIL
Circulating Supply827.78M FIL
Launch Date2020-08-24
Block Number6,368,292

FileCoin Information

Websites
filecoin.ioWhitepaper
Block Explorers
filfox.info
Hashing Algorithms
SHA-256
Industries
Decentralized Infrastructure

FileCoin Price Converter

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Latest FileCoin News

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Filecoin declines as crypto markets retreat
Neutral

Filecoin declines as crypto markets retreat

Positive

Storage token Filecoin rises on heavy volume

Positive

Filecoin surges 6%, outperforms wider crypto markets

Neutral

Filecoin drops 2% as crypto markets weaken

FileCoin Markets

View all
InstrumentExchangeBenchmark DataPrice24h Change
FileCoinUSDT logo
FIL-USDT
FILUSDT
binance logobinance
AA
0.9696USDT
20.00%
FileCoinUSDT logo
FIL-USDT
FIL-USDT
okex logookex
A
0.9696USDT
20.04%
FileCoinUSD logo
FIL-USD
FIL-USD
coinbase logocoinbase
AA
0.9688USD
19.96%
FileCoinUSDT logo
FIL-USDT
FIL_USDT
gateio logogateio
A
0.9699USDT
20.13%
FileCoinUSDT logo
FIL-USDT
FILUSDT
bybit logobybit
A
0.9686USDT
19.89%

About FileCoin

FileCoin (FIL) is a decentralized storage network that allows users to store and retrieve data from storage providers around the world, incentivized by the native FIL cryptocurrency. The protocol is designed to make file storage and retrieval more secure, reliable, and cost-effective than traditional centralized storage systems, using Proof of Replication (PoRep) and Proof of Spacetime (PoSt) cryptographic proofs. Filecoin was created by Protocol Labs, founded in 2014, who are also the creators of IPFS and libp2p. Filecoin provides a secure, decentralized, and cost-effective alternative to traditional centralized storage systems.

Frequently Asked Questions

FileCoin (FIL) is the decentralized storage protocol token that powers the FileCoin network. The token incentivizes users to store and retrieve data from storage providers around the world, creating a cost-effective, secure, and reliable market for file storage. The FileCoin protocol is designed to make file storage and retrieval more secure, reliable, and cost-effective than traditional centralized storage systems, and allows users to access a decentralized storage market with the trustless infrastructure of Web3.

FileCoin is a peer-to-peer network that stores files and provides economic incentives and cryptography to ensure files are stored reliably over time. It is built on top of the same software powering IPFS protocol, and allows users to pay to store their files on storage providers. Available storage, and the price of that storage, is not controlled by any single company, but rather is a competitive market facilitated by FileCoin. The network is able to support a wide range of formats of data, including audio and video files, and is utilized by various platforms, such as NFT.Storage and Audius, to provide a decentralized storage solution.

The Filecoin protocol is designed to make file storage and retrieval more secure, reliable, and cost-effective than traditional centralized storage systems. The Filecoin network consists of nodes, storage providers, and actors. Nodes keep the Filecoin blockchain up-to-date and validate messages in every block. Storage providers are responsible for storing data on the network, which they are rewarded for in FIL. Actors are responsible for managing the state of the network, such as accounts, multisigs, and account balances. To store and retrieve data on the network, users must create storage and retrieval deals with storage providers, who must prove that they are storing the data and that it is being stored correctly. To ensure this, storage providers use Proof of Replication (PoRep) and Proof of Spacetime (PoSt) cryptographic proofs. To execute messages, actors must pay a gas fee, which is paid to the block-producing storage provider and is composed of the BaseFee, GasLimit, GasFeeCap, and GasPremium. Filecoin provides a secure, decentralized, and cost-effective alternative to traditional centralized storage systems.

Filecoin supports AI-related use cases by providing decentralised infrastructure for storing and accessing large datasets needed for AI training and deployment. This includes:

  • Decentralised Data Storage: AI systems require significant data for training, and Filecoin offers scalable, decentralised storage for datasets, allowing global access without relying on centralised providers.

Data Integrity and Verification: Filecoin uses Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt) to ensure data is tamperproof and verifiable, addressing the reliability requirements of AI applications.

  • Programmable Storage: The Filecoin Virtual Machine (FVM) enables programmatic interactions with stored datasets through smart contracts, supporting automated workflows for AI model training and inferencing.
  • AI Model Sharing: Developers and researchers can use Filecoin to store and distribute AI models, ensuring decentralised access to machine learning resources.
  • Distributed AI Processing: Filecoin’s decentralised storage architecture aligns with distributed AI processing models, where datasets are stored close to edge devices or training nodes.

Filecoin was created by Protocol Labs, founded by Juan Benet and Dave Hyland in 2014. Protocol Labs is also the creator of IPFS and libp2p, which are integral components of the Filecoin protocol. Protocol Labs has been researching, developing, and deploying blockchain-based technologies since early 2014 and was created to help make the world’s data more accessible, secure, and useful.