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)
|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|
This article contains content that is written like an advertisement. (April 2021)
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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. It is a decentralized storage system that aims to “store humanity’s most important information.” Filecoin is 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.
Filecoin aims to store data in a decentralized manner. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor.
Decentralized storage systems like Filecoin allow people to be their own custodians of their data and makes the web more accessible to people worldwide. Since participating in the Filecoin network by mining and storing is directly related to winning more block rewards, Filecoin incentivizes participants to act honestly and store as much data as possible.
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.
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- Thu, Apr 8th 2021 3:39pm-Mike Masnick. "Filecoin Foundation Donates $10 Million Worth Of Filecoin To Internet Archive". Techdirt. Retrieved 2021-04-15.