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Filecoin is a decentralized storage system aiming to “store humanity’s most important information”. The project raised $205 million in its 2017 ICO and initially planned a launch date for mid-2019. However, the launch of the Filecoin mainnet was later pushed back to around mid-October 2020, at block 148,888.
Filecoin is an open protocol, supported by a blockchain that records commitments made by network participants, using FIL, the native currency of the blockchain.
What is FIL Coin?
FIL coin, although its ICO was in 2017, was launched on October 15, 2020. Filecoin merges with the peer-to-peer distributed network protocol IPFS to create a more efficient and secure web free from corporate oversight.
On the Filecoin platform, anyone can participate as a storage provider, allowing businesses to find their place in a highly competitive market.
In simpler terms, the Filecoin platform is designed as a place where those wanting to store data on the internet can meet. According to announcements, the platform is built to prove that data is stored accurately and securely over time.
Moreover, the Filecoin network consists of a multitude of different storage providers and developers, creating a robust and reliable service. The platform offers a global, open-source storage opportunity, making it a network owned and created by everyone.
Additionally, Filecoin is tailored to individual needs, allowing users to adjust strategies for access speed and cost. The platform also offers a rapidly growing ecosystem consisting of tools, libraries, integrations, and providers.
Notably, the names behind Filecoin are also impressive. Filecoin was founded by Juan Benet, who also created the Interplanetary File System. Benet, an American computer scientist who studied at Stanford University, founded Protocol Labs in May 2014 and joined Y Combinator in the summer of 2014 to support both IPFS and Filecoin, among other projects.
Filecoin Review
Filecoin aims to store data in a decentralized manner, attracting significant interest for this reason. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to centralization issues, Filecoin uses its decentralized nature to maintain the integrity of a data’s location, distinguishing it from other storage platforms and making it a project with future potential.
Additionally, the post-launch performance of Filecoin’s native cryptocurrency, FIL coin, which experienced a decline followed by stabilization, is noteworthy. Investors in the project are anticipating further value appreciation of FIL coin.
At this point, it would be beneficial to analyze comments more effectively by looking at current figures and available numerical data.
According to CoinMarketCap, as of the time of this article’s preparation, FIL coin is trading at $30.71, with a market capitalization of $971,420,412, ranking 24th in market value. There are currently 31,632,877 FIL coins in circulation, with a target of reaching 2,000,000,000 FIL coins.
FIL coin also set a record on October 15, 2020, with a high of $131.86, while hitting its lowest point at $1.83 on August 15, 2019.
How to Buy Filecoin?
FIL coin was listed on Binance on October 15, 2020. Following the Binance listing, FIL coin gained further recognition, and a significant impact on its price was observed. FIL coin reached a record price level on October 15. After the listing announcement, FIL/BTC, FIL/BNB, FIL/BUSD, and FIL/USDT trading pairs became available to users.
Those interested in purchasing FIL coin can do so quickly and easily through Binance, the world’s largest cryptocurrency exchange in terms of trading volume.
