Filecoin
Current price
$1.03
−9.26%24h
LiveUpdated 25s ago
TodayFilecoin drops 9.3%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.60%
- 24 hours−9.26%
- 7 days−4.34%
- 30 days+17.46%
- 1 year−35.48%
Filecoin's move in context
Lagging the market today
−9.26% today against −3.26% for the market as a whole, a gap of 6.0 points. A gap this wide suggests something specific to Filecoin may be moving it, not just the market mood.
Trend has turned
−4.3% over 7 days and +17.5% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Filecoin
Filecoin: Decentralized Storage Network for a New Era of Data
Filecoin is a decentralized storage network that aims to revolutionize the way data is stored and shared across the internet. Launched in October 2020 by Protocol Labs, Filecoin provides a blockchain-based solution that incentivizes users to rent out unused storage space on their computers in exchange for the network's native cryptocurrency, FIL. The platform is built on top of the InterPlanetary File System (IPFS), a peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open. By leveraging the power of blockchain technology, Filecoin aims to create a global, decentralized storage marketplace where data can be securely stored, retrieved, and exchanged without relying on centralized data centers.
Key Aspects of Filecoin
Decentralized Storage Network: Filecoin operates as a decentralized storage network, where users can store and retrieve data without relying on centralized cloud providers like Amazon Web Services or Google Cloud. Instead of storing data on centralized servers, Filecoin distributes data across a network of independent storage providers, who rent out their excess storage capacity in exchange for FIL tokens. This decentralized model enhances the security, privacy, and resilience of data, as it is not controlled by a single entity or vulnerable to single points of failure.
Incentive Mechanism: Filecoin's incentive mechanism is designed to reward participants who contribute to the network by providing storage or retrieving data. Storage providers earn FIL tokens by offering their storage space to the network, while clients pay FIL tokens to store and retrieve data. This creates a competitive marketplace where storage providers are incentivized to offer reliable and cost-effective services, driving down the cost of storage and improving the overall efficiency of the network.
InterPlanetary File System (IPFS): Filecoin is built on top of the InterPlanetary File System (IPFS), a distributed protocol that allows for the efficient and secure storage and sharing of data across a peer-to-peer network. IPFS provides the underlying technology that enables Filecoin's decentralized storage capabilities, allowing users to store and retrieve data using cryptographic hashes rather than traditional URLs. This approach ensures that data is stored in a content-addressable manner, making it more secure, resilient, and resistant to censorship.
Proof-of-Replication and Proof-of-Spacetime: Filecoin introduces two novel consensus mechanisms—Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt)—to ensure the security and reliability of the network. PoRep requires storage providers to prove that they have stored a unique copy of a client's data, while PoSt ensures that the data remains stored over a specified period of time. These mechanisms incentivize storage providers to maintain high standards of service and protect the integrity of the data stored on the network.
Adoption and Use Cases: Since its launch, Filecoin has seen significant adoption across various industries, including media, healthcare, and finance. Organizations and individuals use Filecoin to store large volumes of data securely and cost-effectively, taking advantage of the network's decentralized nature and competitive pricing. Additionally, Filecoin has become a popular platform for developers building decentralized applications (dApps) that require secure and reliable data storage, further expanding its use cases and ecosystem.
Future Prospects: As the demand for decentralized storage continues to grow, Filecoin is well-positioned to become a leading player in the industry. The network's ongoing development and integration with other blockchain projects, such as Ethereum and Polkadot, will further enhance its capabilities and expand its reach. With its innovative technology, strong community support, and commitment to decentralization, Filecoin is poised to play a crucial role in the future of data storage and management.
Filecoin market
- Position by market cap among the coins we track.
- #55
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $1.03B
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $1.02High $1.15
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $236.84
- Now 0% of itReached 1 Apr 2021 · Needs +22,970% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 1B FIL
- 51% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 1.96B FIL
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 1.96B FIL
- The most coins that can ever exist. Some coins have no limit.
Filecoin converter
1 Filecoin = $1.03
