About Filecoin
Filecoin is a decentralized storage network that lets users rent out unused disk space and pay for data storage and retrieval using its native cryptocurrency. Protocol Labs, founded by Juan Benet, created the project and introduced it through a whitepaper and initial coin offering in 2017. The mainnet and FIL token launched in October 2020 after a delayed release that had originally been targeted for 2019. The network verifies storage through Proof-of-Replication and Proof-of-Spacetime, two cryptographic mechanisms that allow the blockchain to confirm that miners are genuinely storing client data over time. FIL is used to pay for storage and retrieval deals, cover transaction fees, and reward storage providers who commit capacity to the network. Clients pay in FIL to store files, and miners earn FIL by continuously proving they hold that data. The total supply of FIL is capped at approximately 2 billion coins.
RedStone brings FIL/USD price feed to Filecoin mainnet
The integration of RedStone's FIL/USD price feed on Filecoin enhances network versatility, potentially spurring innovation in decentralized finance.
Filecoin plans to shift block rewards toward paid storage
Filecoin's shift in block rewards could incentivize genuine storage demand, potentially tightening FIL supply and enhancing network transparency.
Filecoin nears the end of its six-year vesting schedule, cutting FIL issuance by about 75%
The reduction in FIL issuance could lead to increased scarcity, potentially boosting token value and influencing similar crypto projects' strategies.
Shipyard winds down IPFS work as Protocol Labs ends funding
The cessation of Shipyard's IPFS work may lead to challenges in maintaining decentralized storage solutions, impacting developer reliance and innovation.
Aptos Labs develops Shelby to tackle AI’s biggest infrastructure bottleneck
Shelby's decentralized storage solution could significantly reduce AI infrastructure costs, fostering innovation and broader AI adoption.
US government pushes $26B in African data center deals as digital infrastructure race heats up
The US's strategic investment in African data centers could reshape global digital infrastructure dynamics, challenging China's influence.
A sourced map of Filecoin's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on Filecoin and the wider market, hosted by our team, will appear here once episodes are live.