The Filecoin system gained wide fame after the goal of its establishment became clear, which is to store important human information.The live Filecoin price today is $6.75 USD(19/08/2022). Filecoin is down 17.90% percent in the past 24 hours, and the cryptocurrency network Filecoin ranked 33 among other cryptocurrencies, It has a circulating supply of 263,089,301 FIL coins,with a a live market cap of $1,767,820,428. supply is not available yet.
What do you know about the Filecoin project?
The Filecoin network is known as a decentralized storage system. The idea of the project emerged in 2017 with the aim of storing important human information. Initially, the project was able to raise more than 205 million US dollars in the initial coin offering (ICO), two years after the project idea emerged. It was expected It was launched on the market, but the launch date of the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020.
In 2014, the project was considered just a catalytic layer that helps organize IPFs, which are a peer-to-peer data storage network, and Filecoin network is an open source protocol built on the blockchain technology; To record the commitments made by users in the network, in addition to transactions made by FIL, the native currency of the blockchain technology, which is completely dependent on both proof-of-replication and proof-of-spacetime.
The founders of the Filecoin project?
The Filecoin project was founded by the American computer scientist Juan Bennett, who contributed to the creation of the Interplanetary File System. Bennett studied at Stanford University in the United States, co-founded the LABs protocol, and co-founded Y Combinator to support the Filecoin network and the IPFS, and many other other projects.
What makes the Filecoin network unique?
The Filecoin network was established with the goal of decentralizing data storage, as the project operates in contrast to cloud storage companies, such as Cloudflare, or Amazon Web Services, which often have problems with centralization, and the Filecoin network takes advantage of the decentralized nature to protect the integrity of users’ data and their data locations , which makes the possibility of data recovery easy and difficult to monitor.
The network also allows users to store their data in a decentralized manner and also be the custodian of their data, facilitating the process of reaching people all over the world using the web, as well as the participation in the Filecoin project is through mining and storage and is closely related to obtaining many rewards Block, the Filecoin network motivates users to act honestly and transparently to store as much important data as possible.
Where can I buy FIL coin?
The Filecoin is now available on several exchange platforms which are Binance, BTCEX, OKX, BingX, and Bybit.
At the moment FIL seems to be trading dangerously close to the all-time low. Therefore, traders should stay away from the coin at the moment: it looks like the weakest one compared to the others.