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Filecoin

Computing & Data Storage

Overview

Filecoin is a distributed electronic currency similar to Bitcoin. Unlike Bitcoin’s computation-only proof-of-work, Filecoin’s proof-of-work function includes a proof-of-retrievability component, which requires nodes to prove they store a particular file. The Filecoin network forms an entirely distributed file storage system, whose nodes are incentivized to store as much of the entire network’s data as they can.

Features

The market runs on a blockchain with a native protocol token Filecoin, which miners earn by providing storage to clients.

Filecoin miners compete to mine blocks with sizable rewards, but Filecoin mining power is proportional to active storage, which directly provides a useful service to clients.

Filecoin works as an incentive layer on top of IPFS, which can provide storage infrastructure for any data.

The Filecoin protocol builds upon Decentralized Storage Network (DSN), Novel Proofs-of-Storage, Proof-of-Work.

The Filecoin DSN handles storage and retrieval requests respectively via two verifiable markets: The Storage Market and the Retrieval Market. Filecoin clients and miners set the prices for the services requested and offered and submit their orders to the markets.

The Filecoin protocol employs Proof-of-Spacetime to audit the storage offered by miners.

Filecoin Miners’ storage is divided in sectors; each sector contains pieces assigned to the miner. The Network keeps track of each Storage Miners’ sector via the allocation table.

The Filecoin Retrieval Market allows clients to request retrieval of a specific piece and Retrieval Miners to serve it.

Any user in the network can become a Retrieval Miner by serving pieces in exchange for Filecoin tokens.

Crowdsale

Token Sale
ICO start date 08 Aug 2017
ICO end date 09 Aug 2017
Raised 257,000,000 USD
Legal
ICO Platform No
Token details
Ticker FIL
Additional Token Emission No

Ratings

Type of scores
Score
Status
Hype score High Active
Risk score Low Active

Team members

Funding Rounds

Development

layout.headers.Pre_launch
Launch
Custom blockchain
Testnet
Mainnet
NA NA NA NA NA

Rating Review and Analytics

Investment rating Info NA
Hype score Info High
Risk score Info Low
Filecoin ICO Contacts
Website

Trading

(FIL)
$4.4963
4.69% 24H
ETH
return 0.92x
Start ICO 08 Aug 2017
End ICO 09 Aug 2017
Token FIL
Price 1 FIL = 5 USD
MVP No
Whitepaper View
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