Feeling the FIL?
There are so many things happening in crypto and blockchain tech that it is impossible to keep track of all the good stuff. Regardless of how hard you try, you may miss something, like Filecoin. Filecoin is one of the most innovative things launched in the previous decade, but not many people know about it.
In this article, we will give you a clear overview of Filecoin, how Filecoin works, and why the growth of Filecoin matters today. Please keep in mind that we have prepared the entire article from the user’s perspective.
This way, if you are a crypto and blockchain enthusiast, you can catch up on everything you may have missed. You will also learn how you can get the best out of this technology.
What Is Filecoin?
According to the official definition, Filecoin is a P2P network that allows users to store files reliably and has a few economic incentives built into it. Users have to pay storage miners, who will be keeping data private, secure, and reliable. So, two types of people can join the Filecoin network: those who want secure storage for competitive prices and those who want to earn money by storing data from other users in a safe way.
Are you wondering how Filecoin is related to crypto tech? This innovative file-storage network uses powerful blockchain technology to ensure smooth data storage and additional security. To make this possible, Filecoin also uses a cryptocurrency token, which is called FIL.
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