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Filecoin Price & Market Data
Filecoin price today is $66.62 with a 24-hour trading volume of $411,574,554. FIL price is up 1.4% in the last 24 hours. It has a circulating supply of 80 Million FIL coins and a max supply of 1.97 Billion. If you are looking to buy or sell Filecoin, Binance is currently the most active exchange.
What is Filecoin?
Filecoin is a decentralized storage network based on the Interplanetary File Storage (IPFS) protocol. It is designed to utilized unused storage globally into an efficient storage market for users to pay for low cost storage. The objective is to ensure file storage is permanent and distributed across the web. Contrast this with centralized cloud storage solution such as Amazon Web Services, Google Cloud, or Dropbox, where data are stored in servers owned by these private corporations.
Filecoin (FIL or ⨎) is also the currency of the decentralized storage network. Customers wanting to access storage will have to pay for storage in Filecoin. Nodes that provide storage to the network will in turn be paid in Filecoin for their service.
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 designated a unique signature, and multiple nodes can host a whole or portion of that file. These files can be requested by any user with access to the address through the unique signature. As any nodes can store a copy of the file, it is distributed thus giving resilience to the file's existence on the internet. Many haven liken IPFS to be as important as the Bittorrent protocol created by Bram Cohen.
What was Filecoin ICO price?
The Filecoin initial coin offering (ICO) price started at $1, and increased by $1 for every $40 million raised, capping at $6 per token. The ICO was conducted on August 10th, 2017 and the Filecoin team have successfully raised over $200 million of 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, specialized at network storage.
Is Filecoin live?
Yes, Filecoin is already running live on mainnet which was launched on October 15th, 2020
Who are the competitors of Filecoin?
There are other storage network that is also providing distributed file storage incentivized with cryptocurrencies such as Storj, Siacoin, BitTorrent, Arweave, and other storage sector coins.
