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Filecoin

Filecoin FIL

coin
Filecoin Price (FIL)
$4.39
2.47% Buy FIL

0.0024 ETH

0.0002 BTC

Low: $4.33
High: $4.51
24h
Market Cap
$1,870,894,951
2.47%
Fully Diluted Market Cap
$1,870,760,586
2.47%
Volume
24h
$70,050,160
51.37%
Volume / Market Cap
0.0374
Circulating Supply
426,073,442 FIL
Max Supply
--
Total Supply
426,073,442
Filecoin FIL
Price: $4.39
2.47% Buy FIL
Price: $4
2.47%
Buy FIL
InterPlanetary File System<\/a>.<\/strong> It allows users to take advantage of <strong>unused hard drive space.&nbsp;<\/strong>Make sure to take a look at the Filecoin price if you want to see the live FIL price.<\/p>\r\n<p>Filecoin crypto project is often perceived as a <strong>market for data<\/strong> because it allows users to rent or sell their storage space to others. Any participant in the Filecoin project who has free disk space can rent it out to others for the purpose of storing data. According to the Filecoin project plans, there will be three types of markets on the Filecoin system:<\/p>\r\n<ul>\r\n<li>File storage<\/li>\r\n<li>File retrieval<\/li>\r\n<li>On-exchange token trading<\/li>\r\n<\/ul>\r\n<p>By utilizing its decentralized nature, <strong>Filecoin safeguards the physical location of data<\/strong>, making it simple to retrieve but difficult to censor. Overall, the main advantage of decentralized storage platforms like Filecoin is that it enables individuals to be their own data custodians.<\/p>\r\n<h2>The Founder of Filecoin<\/h2>\r\n<p><strong>Juan Benet<\/strong>, the creator of the Interplanetary File System (IPFS), launched Filecoin. Benet is also the founder of Protocol Labs, which is an organization that participated in the launch of Filecoin. Even though the project was initially introduced in 2014 as an incentive layer for the IPFS, it was eventually launched on a Filecoin mainnet in 2020 as a separate project.<\/p>\r\n<h2>How Does Filecoin Work?<\/h2>\r\n<p>Most of the network processes happen due to <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-miner/">miners. In the majority of blockchain protocols, miners are the network users who contribute to the blockchain's advancement and upkeep. However, the way Filecoin operates is very different. Rather than donating computational power (hashing power), miners in Filecoin provide essential utilities, storage space, and a way to retrieve information.<\/p>\r\n<p>The existence of two different types of nodes &ndash; <strong>Storage miner nodes and Retrieval miner nodes<\/strong> &ndash; is what mostly distinguishes Filecoin from other similar networks. <strong>Storage nodes<\/strong> are physical representations of the disk space dedicated by a network participant for the storage of data. Since large nodes promote centralization and small nodes degrade the network's quality, average-size nodes are preferred mostly by the network. These nodes receive payment for the information they store. Every Storage node owner gets paid according to how much memory they provide.<\/p>\r\n<p><strong>Retrieval nodes<\/strong>, on the other hand, are a special kind of nodes that only exist on the Filecoin network. The primary requirements to become a Retrieval node are a fast Internet connection, a low ping, and a location near Storage nodes. The job of Retrieval nodes is to locate and send information to users in response to their requests. The node that handles it first, receives payment.<\/p>\r\n<p>The consensus mechanisms used to secure the Filecoin crypto project are <strong>Proof-of-Replication and Proof-of-Spacetime.<\/strong><\/p>\r\n<p><strong>Proof-of-Replication (PoRep)<\/strong> is a new variation of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake. It&rsquo;s based on sealing, which is a progressive, sequential process used to create a unique replica for each miner by encoding the data. In essence, this way miners show the public that a unique encoding of the data is present in physical storage.<\/p>\r\n<p><strong>Proof-of-Spacetime (PoSt)<\/strong>, on the other hand, allows miners to read data from randomly chosen sectors and compress it into PoSt proof. By doing this, miners offer the public evidence that a unique data encoding was constantly present in physical storage over a certain time period.<\/p>\r\n<h2>The Purpose of FIL Coins<\/h2>\r\n<p>The basic purpose of FIL coins is <strong>to provide an economic incentive<\/strong> to guarantee that data is reliably stored over time. This means that FIL coins are mostly distributed as rewards for Storage and Retrieval nodes that contribute to the network by sharing or distributing storage or data.<\/p>\r\n<p>However, besides that, Filecoin tokens are also used <strong>to<\/strong> <strong>cover gas fees on Filecoin.<\/strong> Gas is used to measure the amount of computing and storage resources needed to execute transactions and validate proofs.<\/p>\r\n<h2>Tokenomics of Filecoin<\/h2>\r\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-initial-coin-offering-ico/">An initial coin offering (ICO)<\/strong><\/a> was held after Filecoin was released in 2017. The Filecoin price during its ICO was $1. Despite the fact that the ICO was held on the CoinList website in compliance with the tight SEC standards, the level of investor interest was so high that the necessary <strong>$252 million was raised in less than 30 minutes.<\/strong><\/p>\r\n<p>The biggest portion of the total Filecoin supply (70%) is dedicated to <strong>miner rewards. <\/strong>The remaining part is split between the developers of the project, ICO investors, and a Filecoin fund for future development.<\/p>\r\n<p>If you&rsquo;re planning to invest in Filecoin tokens, note that <strong>the FIL price is prone to change. <\/strong>This, in essence, happens with most crypto assets since their prices, including the Filecoin price, are easily affected by the fluctuations of the whole crypto market.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/filecoin-fil-price","crypto_currency_info":{"id":104,"crypto_currency_id":94,"description":"Filecoin (FIL) is a cryptocurrency launched in 2020. Users are able to generate FIL through the process of mining. Filecoin has a current supply of 181,431,512. The last known price of Filecoin is 19.44250624 USD and is up 0.17 over the last 24 hours. It is currently trading on 185 active market(s) with $371,343,445.83 traded over the last 24 hours. More information can be found at https:\/\/filecoin.io\/.","tags":"[\"mineable\",\"distributed-computing\",\"filesharing\",\"storage\",\"polychain-capital-portfolio\",\"blockchain-capital-portfolio\",\"boostvc-portfolio\",\"dcg-portfolio\",\"hashkey-capital-portfolio\",\"a16z-portfolio\",\"winklevoss-capital-portfolio\",\"pantera-capital-portfolio\",\"web3\",\"bnb-chain\"]","platform":null,"category":"coin","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/2280.png","original_links":"{\"website\":[\"https:\\\/\\\/filecoin.io\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/protocollabs\"],\"message_board\":[\"https:\\\/\\\/filecoin.io\\\/blog\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/docs.filecoin.io\\\/\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"],\"announcement\":[\"https:\\\/\\\/bitcointalk.org\\\/index.php?topic=2080871.0\"]}","links":"{\"website\":{\"filecoin.io\":\"https:\\\/\\\/filecoin.io\\\/\"},\"community\":{\"twitter.com\":\"https:\\\/\\\/twitter.com\\\/protocollabs\",\"filecoin.io\":\"https:\\\/\\\/filecoin.io\\\/blog\",\"reddit.com\":\"https:\\\/\\\/www.reddit.com\\\/r\\\/filecoin\\\/\"},\"explorer\":{\"filfox.io\":\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"bscscan.com\":\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"},\"technical_doc\":\"https:\\\/\\\/docs.filecoin.io\\\/\",\"source_code\":\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"}","data":"{\"id\":2280,\"name\":\"Filecoin\",\"symbol\":\"FIL\",\"category\":\"coin\",\"description\":\"Filecoin (FIL) is a cryptocurrency launched in 2020. Users are able to generate FIL through the process of mining. Filecoin has a current supply of 181,431,512. The last known price of Filecoin is 19.44250624 USD and is up 0.17 over the last 24 hours. It is currently trading on 185 active market(s) with $371,343,445.83 traded over the last 24 hours. More information can be found at https:\\\/\\\/filecoin.io\\\/.\",\"slug\":\"filecoin\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/2280.png\",\"subreddit\":\"\",\"notice\":\"\",\"tags\":[\"mineable\",\"distributed-computing\",\"filesharing\",\"storage\",\"polychain-capital-portfolio\",\"blockchain-capital-portfolio\",\"boostvc-portfolio\",\"dcg-portfolio\",\"hashkey-capital-portfolio\",\"a16z-portfolio\",\"winklevoss-capital-portfolio\",\"pantera-capital-portfolio\",\"web3\",\"bnb-chain\"],\"tag-names\":[\"Mineable\",\"Distributed Computing\",\"Filesharing\",\"Storage\",\"Polychain Capital Portfolio\",\"Blockchain Capital Portfolio\",\"BoostVC Portfolio\",\"DCG Portfolio\",\"Hashkey Capital Portfolio\",\"a16z Portfolio\",\"Winklevoss Capital Portfolio\",\"Pantera Capital Portfolio\",\"Web3\",\"BNB Chain\"],\"tag-groups\":[\"OTHERS\",\"INDUSTRY\",\"INDUSTRY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"INDUSTRY\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/filecoin.io\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/protocollabs\"],\"message_board\":[\"https:\\\/\\\/filecoin.io\\\/blog\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/docs.filecoin.io\\\/\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"],\"announcement\":[\"https:\\\/\\\/bitcointalk.org\\\/index.php?topic=2080871.0\"]},\"platform\":null,\"date_added\":\"2017-12-13T00:00:00.000Z\",\"twitter_username\":\"protocollabs\",\"is_hidden\":0,\"date_launched\":\"2020-10-14T00:00:00.000Z\",\"contract_address\":[{\"contract_address\":\"0xae3a768f9ab104c69a7cd6041fe16ffa235d1810\",\"platform\":{\"name\":\"HECO\",\"coin\":{\"id\":\"2502\",\"name\":\"Huobi Token\",\"symbol\":\"HT\",\"slug\":\"huobi-token\"}}},{\"contract_address\":\"0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":"2020-10-14 03:00:00","created_at":"2022-03-25T14:20:17.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":93,"crypto_currency_id":94,"twitter":"{\"name\":\"Protocol Labs\",\"username\":\"@protocollabs\",\"follower_count\":117415,\"following_count\":275,\"tweet_count\":2422,\"created_at\":\"2017-01-24 00:00:00\"}","reddit":"{\"subscribers\":17093,\"description\":\"Filecoin is a decentralized storage network designed to store humanity's most important information.\",\"created_at\":\"2014-02-18 00:00:00\",\"subreddit_type\":\"public\",\"subreddit_name\":\"r\\\/filecoin\",\"moderators\":29,\"hot\":[{\"title\":\"PEPE alpha airdrop\",\"author\":\"Mandolith\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13o89jr\\\/pepe_alpha_airdrop\\\/\",\"created_at\":\"2023-05-21 22:23:04\",\"icons\":[]},{\"title\":\"Filecoin Deal in Private Torrent Tracker\",\"author\":\"Its0EZay\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13n901o\\\/filecoin_deal_in_private_torrent_tracker\\\/\",\"created_at\":\"2023-05-20 21:00:59\",\"icons\":[]},{\"title\":\"Hi all. I would like to move away from Ledger hardware wallet given the latest development. Any recommendation for which wallet I should use to store FIL coin long-term?\",\"author\":\"Dizer_Y\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13l2jek\\\/hi_all_i_would_like_to_move_away_from_ledger\\\/\",\"created_at\":\"2023-05-18 15:44:35\",\"icons\":[]},{\"title\":\"Grayscale\\u2019s Filecoin Trust: Uncharted Waters as SEC Challenges Crypto Framework\",\"author\":\"Sybil_White\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kurap\\\/grayscales_filecoin_trust_uncharted_waters_as_sec\\\/\",\"created_at\":\"2023-05-18 10:20:05\",\"icons\":[]},{\"title\":\"SEC Claims Filecoin (FIL) as Securities in a Letter to Grayscale\",\"author\":\"GrapefruitInformal35\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13knsz7\\\/sec_claims_filecoin_fil_as_securities_in_a_letter\\\/\",\"created_at\":\"2023-05-18 03:59:06\",\"icons\":[]},{\"title\":\"Grayscale Investments Clashes with SEC over Filecoin Trust's Status as a Security\",\"author\":\"azcoinnews\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kj4vu\\\/grayscale_investments_clashes_with_sec_over\\\/\",\"created_at\":\"2023-05-18 00:26:08\",\"icons\":[]},{\"title\":\"Join us tomorrow for a discussion with Zondax on their journey through the Space Warp program, and get an insider's look at their experiences with the FVM.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kdp4i\\\/join_us_tomorrow_for_a_discussion_with_zondax_on\\\/\",\"created_at\":\"2023-05-17 20:51:10\",\"icons\":[]},{\"title\":\"Are you an artist?? \\ud83c\\udfa8 Have your work featured in Waterlily \\u2013 the world\\u2019s first ethical AI art generator. Built on FVM.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13k63po\\\/are_you_an_artist_have_your_work_featured_in\\\/\",\"created_at\":\"2023-05-17 16:08:19\",\"icons\":[]},{\"title\":\"Dive into the Filecoin &amp; IPFS Ecosystem Roundup! Catch up on the State of IPFS, Filecoin, Web3, and see what won app of the month. Stay connected with our dynamic network!\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13jeyoc\\\/dive_into_the_filecoin_ipfs_ecosystem_roundup\\\/\",\"created_at\":\"2023-05-16 19:38:39\",\"icons\":[]},{\"title\":\"Web browsers are software categorized as \\u201cuser agents\\u201d because they are intended to \\u201cact on behalf of the user.\\u201d Yet, in many cases, they don\\u2019t.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ireeh\\\/web_browsers_are_software_categorized_as_user\\\/\",\"created_at\":\"2023-05-16 01:44:22\",\"icons\":[]},{\"title\":\"The Filecoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13iqfrj\\\/the_filecoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-16 01:00:43\",\"icons\":[]},{\"title\":\"Go from zero to hero and start building on FVM with the FVM hackathon cheat sheet\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ido1v\\\/go_from_zero_to_hero_and_start_building_on_fvm\\\/\",\"created_at\":\"2023-05-15 17:00:18\",\"icons\":[]},{\"title\":\"Filecoin Network Usability for Offsite Backups\",\"author\":\"Independent-Park9987\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13fnevo\\\/filecoin_network_usability_for_offsite_backups\\\/\",\"created_at\":\"2023-05-12 14:54:30\",\"icons\":[]},{\"title\":\"Do you have an idea for pushing the Filecoin ecosystem forward?\",\"author\":\"rickstevesFTW\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13duoby\\\/do_you_have_an_idea_for_pushing_the_filecoin\\\/\",\"created_at\":\"2023-05-10 15:50:21\",\"icons\":[]},{\"title\":\"Official! Filet Finance is LIVE on FVM\",\"author\":\"GroundbreakingMud986\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13dlzqj\\\/official_filet_finance_is_live_on_fvm\\\/\",\"created_at\":\"2023-05-10 10:03:14\",\"icons\":[]},{\"title\":\"The Filecoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13canwj\\\/the_filecoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-09 01:00:44\",\"icons\":[]},{\"title\":\"Gather data about Cost and speed of transfer.\",\"author\":\"fgtethancx\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ate4r\\\/gather_data_about_cost_and_speed_of_transfer\\\/\",\"created_at\":\"2023-05-07 15:22:36\",\"icons\":[]},{\"title\":\"ANNOUNCEMENT: Brave Wallet will now feature enhanced Filecoin support.\",\"author\":\"rickstevesFTW\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136ztt0\\\/announcement_brave_wallet_will_now_feature\\\/\",\"created_at\":\"2023-05-03 21:16:27\",\"icons\":[]},{\"title\":\"DWeb Camp is coming this summer \\u2014 This 5-day retreat, sponsored by FF, is for builders to connect, learn, &amp; have fun as we work toward building a better, decentralized web that actualizes the principles of trust, human agency, &amp; ecological awareness.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136ss56\\\/dweb_camp_is_coming_this_summer_this_5day_retreat\\\/\",\"created_at\":\"2023-05-03 16:51:18\",\"icons\":[]},{\"title\":\"DEV GRANT SPOTLIGHT: Encloud is building privacy services for data on IPFS and Filecoin\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/135ydw3\\\/dev_grant_spotlight_encloud_is_building_privacy\\\/\",\"created_at\":\"2023-05-02 19:55:18\",\"icons\":[]},{\"title\":\"FVM GUIDE: Build an ethical text-to-image AI art site that pays content creators\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136242x\\\/fvm_guide_build_an_ethical_texttoimage_ai_art\\\/\",\"created_at\":\"2023-05-02 22:15:18\",\"icons\":[]},{\"title\":\"Filecoin emerges as a meaningful ecosystem - Multicoin Capital\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/1357ij6\\\/filecoin_emerges_as_a_meaningful_ecosystem\\\/\",\"created_at\":\"2023-05-02 01:29:17\",\"icons\":[]},{\"title\":\"The Filcoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/1356wx4\\\/the_filcoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-02 01:00:51\",\"icons\":[]},{\"title\":\"Unable to withdraw token from Binance to Filecoin network with my metamask address\",\"author\":\"fuadbinomar\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/134jgu0\\\/unable_to_withdraw_token_from_binance_to_filecoin\\\/\",\"created_at\":\"2023-05-01 11:08:52\",\"icons\":[]},{\"title\":\"Filecoin next bull run!\",\"author\":\"producer93\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/132otia\\\/filecoin_next_bull_run\\\/\",\"created_at\":\"2023-04-29 09:55:52\",\"icons\":[]}]}","github":"{\"public_repos\":234,\"bio\":null,\"type\":\"Organization\",\"username\":\"filecoin-project\",\"user_link\":\"https:\\\/\\\/github.com\\\/filecoin-project\",\"created_at\":\"2016-09-05 00:00:00\"}","telegram":null,"domain":"{\"domain_rating\":77,\"ahrefs_top\":23797,\"traffic\":28325.497662590933,\"website\":\"https:\\\/\\\/filecoin.io\"}"},"buy_page":null,"halving_page":null}" :fiat-currency=""USD"">
InterPlanetary File System<\/a>.<\/strong> It allows users to take advantage of <strong>unused hard drive space.&nbsp;<\/strong>Make sure to take a look at the Filecoin price if you want to see the live FIL price.<\/p>\r\n<p>Filecoin crypto project is often perceived as a <strong>market for data<\/strong> because it allows users to rent or sell their storage space to others. Any participant in the Filecoin project who has free disk space can rent it out to others for the purpose of storing data. According to the Filecoin project plans, there will be three types of markets on the Filecoin system:<\/p>\r\n<ul>\r\n<li>File storage<\/li>\r\n<li>File retrieval<\/li>\r\n<li>On-exchange token trading<\/li>\r\n<\/ul>\r\n<p>By utilizing its decentralized nature, <strong>Filecoin safeguards the physical location of data<\/strong>, making it simple to retrieve but difficult to censor. Overall, the main advantage of decentralized storage platforms like Filecoin is that it enables individuals to be their own data custodians.<\/p>\r\n<h2>The Founder of Filecoin<\/h2>\r\n<p><strong>Juan Benet<\/strong>, the creator of the Interplanetary File System (IPFS), launched Filecoin. Benet is also the founder of Protocol Labs, which is an organization that participated in the launch of Filecoin. Even though the project was initially introduced in 2014 as an incentive layer for the IPFS, it was eventually launched on a Filecoin mainnet in 2020 as a separate project.<\/p>\r\n<h2>How Does Filecoin Work?<\/h2>\r\n<p>Most of the network processes happen due to <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-miner/">miners. In the majority of blockchain protocols, miners are the network users who contribute to the blockchain's advancement and upkeep. However, the way Filecoin operates is very different. Rather than donating computational power (hashing power), miners in Filecoin provide essential utilities, storage space, and a way to retrieve information.<\/p>\r\n<p>The existence of two different types of nodes &ndash; <strong>Storage miner nodes and Retrieval miner nodes<\/strong> &ndash; is what mostly distinguishes Filecoin from other similar networks. <strong>Storage nodes<\/strong> are physical representations of the disk space dedicated by a network participant for the storage of data. Since large nodes promote centralization and small nodes degrade the network's quality, average-size nodes are preferred mostly by the network. These nodes receive payment for the information they store. Every Storage node owner gets paid according to how much memory they provide.<\/p>\r\n<p><strong>Retrieval nodes<\/strong>, on the other hand, are a special kind of nodes that only exist on the Filecoin network. The primary requirements to become a Retrieval node are a fast Internet connection, a low ping, and a location near Storage nodes. The job of Retrieval nodes is to locate and send information to users in response to their requests. The node that handles it first, receives payment.<\/p>\r\n<p>The consensus mechanisms used to secure the Filecoin crypto project are <strong>Proof-of-Replication and Proof-of-Spacetime.<\/strong><\/p>\r\n<p><strong>Proof-of-Replication (PoRep)<\/strong> is a new variation of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake. It&rsquo;s based on sealing, which is a progressive, sequential process used to create a unique replica for each miner by encoding the data. In essence, this way miners show the public that a unique encoding of the data is present in physical storage.<\/p>\r\n<p><strong>Proof-of-Spacetime (PoSt)<\/strong>, on the other hand, allows miners to read data from randomly chosen sectors and compress it into PoSt proof. By doing this, miners offer the public evidence that a unique data encoding was constantly present in physical storage over a certain time period.<\/p>\r\n<h2>The Purpose of FIL Coins<\/h2>\r\n<p>The basic purpose of FIL coins is <strong>to provide an economic incentive<\/strong> to guarantee that data is reliably stored over time. This means that FIL coins are mostly distributed as rewards for Storage and Retrieval nodes that contribute to the network by sharing or distributing storage or data.<\/p>\r\n<p>However, besides that, Filecoin tokens are also used <strong>to<\/strong> <strong>cover gas fees on Filecoin.<\/strong> Gas is used to measure the amount of computing and storage resources needed to execute transactions and validate proofs.<\/p>\r\n<h2>Tokenomics of Filecoin<\/h2>\r\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-initial-coin-offering-ico/">An initial coin offering (ICO)<\/strong><\/a> was held after Filecoin was released in 2017. The Filecoin price during its ICO was $1. Despite the fact that the ICO was held on the CoinList website in compliance with the tight SEC standards, the level of investor interest was so high that the necessary <strong>$252 million was raised in less than 30 minutes.<\/strong><\/p>\r\n<p>The biggest portion of the total Filecoin supply (70%) is dedicated to <strong>miner rewards. <\/strong>The remaining part is split between the developers of the project, ICO investors, and a Filecoin fund for future development.<\/p>\r\n<p>If you&rsquo;re planning to invest in Filecoin tokens, note that <strong>the FIL price is prone to change. <\/strong>This, in essence, happens with most crypto assets since their prices, including the Filecoin price, are easily affected by the fluctuations of the whole crypto market.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/filecoin-fil-price","crypto_currency_info":{"id":104,"crypto_currency_id":94,"description":"Filecoin (FIL) is a cryptocurrency launched in 2020. Users are able to generate FIL through the process of mining. Filecoin has a current supply of 181,431,512. The last known price of Filecoin is 19.44250624 USD and is up 0.17 over the last 24 hours. It is currently trading on 185 active market(s) with $371,343,445.83 traded over the last 24 hours. More information can be found at https:\/\/filecoin.io\/.","tags":"[\"mineable\",\"distributed-computing\",\"filesharing\",\"storage\",\"polychain-capital-portfolio\",\"blockchain-capital-portfolio\",\"boostvc-portfolio\",\"dcg-portfolio\",\"hashkey-capital-portfolio\",\"a16z-portfolio\",\"winklevoss-capital-portfolio\",\"pantera-capital-portfolio\",\"web3\",\"bnb-chain\"]","platform":null,"category":"coin","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/2280.png","original_links":"{\"website\":[\"https:\\\/\\\/filecoin.io\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/protocollabs\"],\"message_board\":[\"https:\\\/\\\/filecoin.io\\\/blog\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/docs.filecoin.io\\\/\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"],\"announcement\":[\"https:\\\/\\\/bitcointalk.org\\\/index.php?topic=2080871.0\"]}","links":"{\"website\":{\"filecoin.io\":\"https:\\\/\\\/filecoin.io\\\/\"},\"community\":{\"twitter.com\":\"https:\\\/\\\/twitter.com\\\/protocollabs\",\"filecoin.io\":\"https:\\\/\\\/filecoin.io\\\/blog\",\"reddit.com\":\"https:\\\/\\\/www.reddit.com\\\/r\\\/filecoin\\\/\"},\"explorer\":{\"filfox.io\":\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"bscscan.com\":\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"},\"technical_doc\":\"https:\\\/\\\/docs.filecoin.io\\\/\",\"source_code\":\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"}","data":"{\"id\":2280,\"name\":\"Filecoin\",\"symbol\":\"FIL\",\"category\":\"coin\",\"description\":\"Filecoin (FIL) is a cryptocurrency launched in 2020. Users are able to generate FIL through the process of mining. Filecoin has a current supply of 181,431,512. The last known price of Filecoin is 19.44250624 USD and is up 0.17 over the last 24 hours. It is currently trading on 185 active market(s) with $371,343,445.83 traded over the last 24 hours. More information can be found at https:\\\/\\\/filecoin.io\\\/.\",\"slug\":\"filecoin\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/2280.png\",\"subreddit\":\"\",\"notice\":\"\",\"tags\":[\"mineable\",\"distributed-computing\",\"filesharing\",\"storage\",\"polychain-capital-portfolio\",\"blockchain-capital-portfolio\",\"boostvc-portfolio\",\"dcg-portfolio\",\"hashkey-capital-portfolio\",\"a16z-portfolio\",\"winklevoss-capital-portfolio\",\"pantera-capital-portfolio\",\"web3\",\"bnb-chain\"],\"tag-names\":[\"Mineable\",\"Distributed Computing\",\"Filesharing\",\"Storage\",\"Polychain Capital Portfolio\",\"Blockchain Capital Portfolio\",\"BoostVC Portfolio\",\"DCG Portfolio\",\"Hashkey Capital Portfolio\",\"a16z Portfolio\",\"Winklevoss Capital Portfolio\",\"Pantera Capital Portfolio\",\"Web3\",\"BNB Chain\"],\"tag-groups\":[\"OTHERS\",\"INDUSTRY\",\"INDUSTRY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"INDUSTRY\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/filecoin.io\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/protocollabs\"],\"message_board\":[\"https:\\\/\\\/filecoin.io\\\/blog\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/filfox.io\\\/en?utm_source=cmc\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/docs.filecoin.io\\\/\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/filecoin-project\\\/\"],\"announcement\":[\"https:\\\/\\\/bitcointalk.org\\\/index.php?topic=2080871.0\"]},\"platform\":null,\"date_added\":\"2017-12-13T00:00:00.000Z\",\"twitter_username\":\"protocollabs\",\"is_hidden\":0,\"date_launched\":\"2020-10-14T00:00:00.000Z\",\"contract_address\":[{\"contract_address\":\"0xae3a768f9ab104c69a7cd6041fe16ffa235d1810\",\"platform\":{\"name\":\"HECO\",\"coin\":{\"id\":\"2502\",\"name\":\"Huobi Token\",\"symbol\":\"HT\",\"slug\":\"huobi-token\"}}},{\"contract_address\":\"0x0d8ce2a99bb6e3b7db580ed848240e4a0f9ae153\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":"2020-10-14 03:00:00","created_at":"2022-03-25T14:20:17.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":93,"crypto_currency_id":94,"twitter":"{\"name\":\"Protocol Labs\",\"username\":\"@protocollabs\",\"follower_count\":117415,\"following_count\":275,\"tweet_count\":2422,\"created_at\":\"2017-01-24 00:00:00\"}","reddit":"{\"subscribers\":17093,\"description\":\"Filecoin is a decentralized storage network designed to store humanity's most important information.\",\"created_at\":\"2014-02-18 00:00:00\",\"subreddit_type\":\"public\",\"subreddit_name\":\"r\\\/filecoin\",\"moderators\":29,\"hot\":[{\"title\":\"PEPE alpha airdrop\",\"author\":\"Mandolith\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13o89jr\\\/pepe_alpha_airdrop\\\/\",\"created_at\":\"2023-05-21 22:23:04\",\"icons\":[]},{\"title\":\"Filecoin Deal in Private Torrent Tracker\",\"author\":\"Its0EZay\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13n901o\\\/filecoin_deal_in_private_torrent_tracker\\\/\",\"created_at\":\"2023-05-20 21:00:59\",\"icons\":[]},{\"title\":\"Hi all. I would like to move away from Ledger hardware wallet given the latest development. Any recommendation for which wallet I should use to store FIL coin long-term?\",\"author\":\"Dizer_Y\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13l2jek\\\/hi_all_i_would_like_to_move_away_from_ledger\\\/\",\"created_at\":\"2023-05-18 15:44:35\",\"icons\":[]},{\"title\":\"Grayscale\\u2019s Filecoin Trust: Uncharted Waters as SEC Challenges Crypto Framework\",\"author\":\"Sybil_White\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kurap\\\/grayscales_filecoin_trust_uncharted_waters_as_sec\\\/\",\"created_at\":\"2023-05-18 10:20:05\",\"icons\":[]},{\"title\":\"SEC Claims Filecoin (FIL) as Securities in a Letter to Grayscale\",\"author\":\"GrapefruitInformal35\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13knsz7\\\/sec_claims_filecoin_fil_as_securities_in_a_letter\\\/\",\"created_at\":\"2023-05-18 03:59:06\",\"icons\":[]},{\"title\":\"Grayscale Investments Clashes with SEC over Filecoin Trust's Status as a Security\",\"author\":\"azcoinnews\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kj4vu\\\/grayscale_investments_clashes_with_sec_over\\\/\",\"created_at\":\"2023-05-18 00:26:08\",\"icons\":[]},{\"title\":\"Join us tomorrow for a discussion with Zondax on their journey through the Space Warp program, and get an insider's look at their experiences with the FVM.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13kdp4i\\\/join_us_tomorrow_for_a_discussion_with_zondax_on\\\/\",\"created_at\":\"2023-05-17 20:51:10\",\"icons\":[]},{\"title\":\"Are you an artist?? \\ud83c\\udfa8 Have your work featured in Waterlily \\u2013 the world\\u2019s first ethical AI art generator. Built on FVM.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13k63po\\\/are_you_an_artist_have_your_work_featured_in\\\/\",\"created_at\":\"2023-05-17 16:08:19\",\"icons\":[]},{\"title\":\"Dive into the Filecoin &amp; IPFS Ecosystem Roundup! Catch up on the State of IPFS, Filecoin, Web3, and see what won app of the month. Stay connected with our dynamic network!\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13jeyoc\\\/dive_into_the_filecoin_ipfs_ecosystem_roundup\\\/\",\"created_at\":\"2023-05-16 19:38:39\",\"icons\":[]},{\"title\":\"Web browsers are software categorized as \\u201cuser agents\\u201d because they are intended to \\u201cact on behalf of the user.\\u201d Yet, in many cases, they don\\u2019t.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ireeh\\\/web_browsers_are_software_categorized_as_user\\\/\",\"created_at\":\"2023-05-16 01:44:22\",\"icons\":[]},{\"title\":\"The Filecoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13iqfrj\\\/the_filecoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-16 01:00:43\",\"icons\":[]},{\"title\":\"Go from zero to hero and start building on FVM with the FVM hackathon cheat sheet\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ido1v\\\/go_from_zero_to_hero_and_start_building_on_fvm\\\/\",\"created_at\":\"2023-05-15 17:00:18\",\"icons\":[]},{\"title\":\"Filecoin Network Usability for Offsite Backups\",\"author\":\"Independent-Park9987\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13fnevo\\\/filecoin_network_usability_for_offsite_backups\\\/\",\"created_at\":\"2023-05-12 14:54:30\",\"icons\":[]},{\"title\":\"Do you have an idea for pushing the Filecoin ecosystem forward?\",\"author\":\"rickstevesFTW\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13duoby\\\/do_you_have_an_idea_for_pushing_the_filecoin\\\/\",\"created_at\":\"2023-05-10 15:50:21\",\"icons\":[]},{\"title\":\"Official! Filet Finance is LIVE on FVM\",\"author\":\"GroundbreakingMud986\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13dlzqj\\\/official_filet_finance_is_live_on_fvm\\\/\",\"created_at\":\"2023-05-10 10:03:14\",\"icons\":[]},{\"title\":\"The Filecoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13canwj\\\/the_filecoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-09 01:00:44\",\"icons\":[]},{\"title\":\"Gather data about Cost and speed of transfer.\",\"author\":\"fgtethancx\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/13ate4r\\\/gather_data_about_cost_and_speed_of_transfer\\\/\",\"created_at\":\"2023-05-07 15:22:36\",\"icons\":[]},{\"title\":\"ANNOUNCEMENT: Brave Wallet will now feature enhanced Filecoin support.\",\"author\":\"rickstevesFTW\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136ztt0\\\/announcement_brave_wallet_will_now_feature\\\/\",\"created_at\":\"2023-05-03 21:16:27\",\"icons\":[]},{\"title\":\"DWeb Camp is coming this summer \\u2014 This 5-day retreat, sponsored by FF, is for builders to connect, learn, &amp; have fun as we work toward building a better, decentralized web that actualizes the principles of trust, human agency, &amp; ecological awareness.\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136ss56\\\/dweb_camp_is_coming_this_summer_this_5day_retreat\\\/\",\"created_at\":\"2023-05-03 16:51:18\",\"icons\":[]},{\"title\":\"DEV GRANT SPOTLIGHT: Encloud is building privacy services for data on IPFS and Filecoin\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/135ydw3\\\/dev_grant_spotlight_encloud_is_building_privacy\\\/\",\"created_at\":\"2023-05-02 19:55:18\",\"icons\":[]},{\"title\":\"FVM GUIDE: Build an ethical text-to-image AI art site that pays content creators\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/136242x\\\/fvm_guide_build_an_ethical_texttoimage_ai_art\\\/\",\"created_at\":\"2023-05-02 22:15:18\",\"icons\":[]},{\"title\":\"Filecoin emerges as a meaningful ecosystem - Multicoin Capital\",\"author\":\"FilFoundation\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/1357ij6\\\/filecoin_emerges_as_a_meaningful_ecosystem\\\/\",\"created_at\":\"2023-05-02 01:29:17\",\"icons\":[]},{\"title\":\"The Filcoin Foundation\\u2019s Upload newsletter dives deep into the latest Filecoin news and updates. Have you checked it out yet? Subscribe for ecosystem updates\\ud83d\\udc47\",\"author\":\"AutoModerator\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/1356wx4\\\/the_filcoin_foundations_upload_newsletter_dives\\\/\",\"created_at\":\"2023-05-02 01:00:51\",\"icons\":[]},{\"title\":\"Unable to withdraw token from Binance to Filecoin network with my metamask address\",\"author\":\"fuadbinomar\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/134jgu0\\\/unable_to_withdraw_token_from_binance_to_filecoin\\\/\",\"created_at\":\"2023-05-01 11:08:52\",\"icons\":[]},{\"title\":\"Filecoin next bull run!\",\"author\":\"producer93\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/filecoin\\\/comments\\\/132otia\\\/filecoin_next_bull_run\\\/\",\"created_at\":\"2023-04-29 09:55:52\",\"icons\":[]}]}","github":"{\"public_repos\":234,\"bio\":null,\"type\":\"Organization\",\"username\":\"filecoin-project\",\"user_link\":\"https:\\\/\\\/github.com\\\/filecoin-project\",\"created_at\":\"2016-09-05 00:00:00\"}","telegram":null,"domain":"{\"domain_rating\":77,\"ahrefs_top\":23797,\"traffic\":28325.497662590933,\"website\":\"https:\\\/\\\/filecoin.io\"}"},"buy_page":null,"halving_page":null}" :fiat-currency="{"name":"United States Dollar","logo":"\/crypto-prices\/fiat-logos\/USD.svg","symbol":"USD","sign":"$","price":1}" >

Filecoin (FIL) Social Signals & Traffic Tracker

Filecoin twitter
Twitter Stats
Visit Twitter

Followers

1.86%

Joined at Jan 24, 2017

Following

275

1.48%

Tweet count

2,422

1.51%

Filecoin reddit
Reddit Stats
Visit Reddit

Subscribers

0.03%

Joined at Feb 18, 2014

Subreddit type

public

Moderators

29

0.00%

Filecoin telegram
Telegram Stats

Members

-

Title

-

Currently, official Filecoin (FIL) Telegram Stats account doesn’t exist or wasn’t submitted. 🔆

Filecoin traffic
Website Traffic
Visit Website

Website Rating (DR)

77 / 100

0.00%

Ahrefs Rank

23,797

1.86%

Organic Traffic (mo.)

28,325

70.12%

Filecoin github
GitHub Organization
Visit GitHub

Public repos

Created at Sep 05, 2016

Type

Organization

Filecoin github
GitHub Public Repository

Stars

-

Watchers

-

Forks

-

Language

-

Currently, official Filecoin (FIL) GitHub Public Repository doesn’t exist or wasn’t submitted. 🔆

These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.

These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.

These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Twitter account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.

Followers: 117,415

Subscribers: 17,093

Filecoin Price Statistics

Filecoin Price
$4.39
Price Change 24h
-$0.1085
2.47%
24h Low / 24h High
$4.33 /
$4.51
All Time High
Apr 01, 2021 (2 years 1 month ago)
$237.24
98.15%
All Time Low
Dec 11, 2022 (5 months 1 week ago)
$1.18
271.26%
Trading Volume 24h
$70,050,160
51.37%
Volume / Market Cap
0.0374
Market Dominance
0.16%
Market Rank
#34
Market Cap
$1,870,894,951
2.47%
Fully Diluted Market Cap
$1,870,760,586
2.47%

Live FIL Price Analysis

The current real time Filecoin price is $4.39, and its trading volume is $70,050,160 in the last 24 hours. FIL price has plummeted by 2.47% in the last day, and decreased by 2.80% in the last 7 days. It’s important to note that current Filecoin market capitalization is $1,870,894,951, Talking about circulating supply, FIL has 426,073,442 coins. Currently, Filecoin rank on the market is #34.

Filecoin price today is 98.15% below all time high, and it is 271.26% above all time low.

All data and prices are updated in real-time. The most active and popular exchanges for buying or selling FIL are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.

What Is Filecoin (FIL)?

FIL is the native token of Filecoin, which is a decentralized storage network. Essentially, Filecoin is an open-source cooperative digital storage and data retrieval system, based on the InterPlanetary File System. It allows users to take advantage of unused hard drive space. Make sure to take a look at the Filecoin price if you want to see the live FIL price.

Filecoin crypto project is often perceived as a market for data because it allows users to rent or sell their storage space to others. Any participant in the Filecoin project who has free disk space can rent it out to others for the purpose of storing data. According to the Filecoin project plans, there will be three types of markets on the Filecoin system:

  • File storage
  • File retrieval
  • On-exchange token trading

By utilizing its decentralized nature, Filecoin safeguards the physical location of data, making it simple to retrieve but difficult to censor. Overall, the main advantage of decentralized storage platforms like Filecoin is that it enables individuals to be their own data custodians.

The Founder of Filecoin

Juan Benet, the creator of the Interplanetary File System (IPFS), launched Filecoin. Benet is also the founder of Protocol Labs, which is an organization that participated in the launch of Filecoin. Even though the project was initially introduced in 2014 as an incentive layer for the IPFS, it was eventually launched on a Filecoin mainnet in 2020 as a separate project.

How Does Filecoin Work?

Most of the network processes happen due to miners. In the majority of blockchain protocols, miners are the network users who contribute to the blockchain's advancement and upkeep. However, the way Filecoin operates is very different. Rather than donating computational power (hashing power), miners in Filecoin provide essential utilities, storage space, and a way to retrieve information.

The existence of two different types of nodes – Storage miner nodes and Retrieval miner nodes – is what mostly distinguishes Filecoin from other similar networks. Storage nodes are physical representations of the disk space dedicated by a network participant for the storage of data. Since large nodes promote centralization and small nodes degrade the network's quality, average-size nodes are preferred mostly by the network. These nodes receive payment for the information they store. Every Storage node owner gets paid according to how much memory they provide.

Retrieval nodes, on the other hand, are a special kind of nodes that only exist on the Filecoin network. The primary requirements to become a Retrieval node are a fast Internet connection, a low ping, and a location near Storage nodes. The job of Retrieval nodes is to locate and send information to users in response to their requests. The node that handles it first, receives payment.

The consensus mechanisms used to secure the Filecoin crypto project are Proof-of-Replication and Proof-of-Spacetime.

Proof-of-Replication (PoRep) is a new variation of Proof-of-Stake. It’s based on sealing, which is a progressive, sequential process used to create a unique replica for each miner by encoding the data. In essence, this way miners show the public that a unique encoding of the data is present in physical storage.

Proof-of-Spacetime (PoSt), on the other hand, allows miners to read data from randomly chosen sectors and compress it into PoSt proof. By doing this, miners offer the public evidence that a unique data encoding was constantly present in physical storage over a certain time period.

The Purpose of FIL Coins

The basic purpose of FIL coins is to provide an economic incentive to guarantee that data is reliably stored over time. This means that FIL coins are mostly distributed as rewards for Storage and Retrieval nodes that contribute to the network by sharing or distributing storage or data.

However, besides that, Filecoin tokens are also used to cover gas fees on Filecoin. Gas is used to measure the amount of computing and storage resources needed to execute transactions and validate proofs.

Tokenomics of Filecoin

An initial coin offering (ICO) was held after Filecoin was released in 2017. The Filecoin price during its ICO was $1. Despite the fact that the ICO was held on the CoinList website in compliance with the tight SEC standards, the level of investor interest was so high that the necessary $252 million was raised in less than 30 minutes.

The biggest portion of the total Filecoin supply (70%) is dedicated to miner rewards. The remaining part is split between the developers of the project, ICO investors, and a Filecoin fund for future development.

If you’re planning to invest in Filecoin tokens, note that the FIL price is prone to change. This, in essence, happens with most crypto assets since their prices, including the Filecoin price, are easily affected by the fluctuations of the whole crypto market.

What's Filecoin trading volume in the last 24 hours?

FIL has a trading volume of $70,050,160 in the last 24 hours.

What's Filecoin highest price ever?

FIL has a highest price of $237.24, which was reached on Apr 01, 2021 (2 years 1 month ago).

What's Filecoin lowest price ever?

FIL has a lowest price of $1.18, which was reached on Dec 11, 2022 (5 months 1 week ago).

What are the best exchanges for buying and selling FIL?

Currently, the most active and dominating exchanges for buying and selling Filecoin are Binance, Kraken & Kucoin. The most popular Filecoin trading pairs are FIL/USDT (on Binance ), FIL/USDT (on Bitget ), FIL/USDT (on BKEX ). Head to the Crypto Deal Directory to access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.

What are the safest hardware wallets for keeping FIL?

According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping Filecoin. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.

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The ratio of Volume and Market Capitalization values.

The ratio of Volume and Market Capitalization values.

Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).

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Verified Data

Filecoin project's Circulating Supply has been verified and is equal to:

Circulating Supply

426,073,442 FIL

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.

Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares.

Total Supply = All Issued Coins - Burned Coins.

Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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Current price of Filecoin is $4.39

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