Analysis on Filecoin
Discover real-time updates on Filecoin (FIL): current price at $4.76 for 1 FIL's performance and volatility over the past 24 hours.
- Filecoin (FIL)
- Live Price $4.76
- 24h % 3.10%
- Market Cap$2.26 B
- Volume$206.26 M
- Available Supply475.83 M FIL
Exploring Filecoin: Origins, Evolution, Latest News and Market Journey
What is Filecoin?
Filecoin is a decentralized storage network designed to store humanity's most important information. It raised funds through an ICO in 2017 and was launched in October 2020.
News About Filecoin
Filecoin Price Prediction
Potential $FIL Price
$100 – $200
$200 – $300
$400 – $500
The Technology Behind Filecoin
Filecoin utilizes the InterPlanetary File System (IPFS) to create a distributed file system combined with an incentive layer to reward users for providing storage.
Filecoin is used for decentralized data storage, where clients pay miners to store data, and miners earn FIL tokens in return.
FIL tokens are used to facilitate transactions and as incentives for data storage and reliability on the network.
Governance and Community
The network is governed by Protocol Labs, with contributions from a wide community.
FIL's market value is volatile, like many cryptocurrencies, and is traded across various exchanges.
The Filecoin Network's Functionality
Filecoin facilitates a storage marketplace where clients and miners interact through smart contracts for storage services.
Retrieval miners are tasked with providing quick data delivery and are rewarded accordingly.
Participation in the Filecoin network is open to storage providers, clients, developers, and contributors.
Continuous enhancements to the Filecoin protocol are aimed at improving the network's overall functionality.
Filecoin's ecosystem is expanding with new tools, applications, and services being developed by third parties.
Partnerships and Integration
The network is forming partnerships and integrations to broaden its use cases and adoption.
Filecoin is paving the way for a decentralized internet, emphasizing user control over data with a robust incentive model.Read Less