This article is missing information about description on operation (elaborate what PoR and PoST are; official official source is https://proto.school/verifying-storage-on-filecoin) and cache overhead (described in miner hardware reqs). (April 2021)
This article contains content that is written like an advertisement. (April 2021)
Prevailing filecoin logo
|Original author(s)||Protocol Labs and Juan Benet|
|White paper||"Filecoin: A Decentralized Storage Network", 2017-07-19|
"Filecoin: A Cryptocurrencey Operated File Storage Network", 2014-07-15
|Initial release||15 July 2014|
|Part of a series on|
|Video sharing sites|
|File sharing networks|
|Anonymous file sharing|
|History and societal aspects|
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Filecoin (⨎) is an open-source, public cryptocurrency and digital payment system intended to be a blockchain-based cooperative digital storage and data retrieval method. It is made by Protocol Labs and builds on top of InterPlanetary File System, allowing users to rent unused hard drive space. A blockchain mechanism is used to register the deals. According to Filecoin's authors, it is a decentralized storage system that aims to “store humanity’s most important information.” Filecoin is an open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.
Contrary to centralized storage methodology, Filecoin aims to store data in a decentralized manner, which is resistant to problems that occur in centralized storage. Due to Filecoin's decentralized nature, it protects the integrity of data's location making it easily retrievable and hard to censor. It also allows people on their network to be their own custodians of the data that they store. Additionally, Filecoin also rewards the network nodes that mine and store data on their blockchain network.
In April 2021 the Filecoin Foundation donated 50,000 filecoins worth $10,000,000 to the Internet Archive. In addition, Internet Archive's founder Brewster Kahle and director of partnerships Wendy Hanamura joined the boards of advisors of Filecoin and the Filecoin Foundation for the Decentralized Web.
Network total storage power
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