Filecoin

Filecoin

Filecoin

Open-source, public cryptocurrency

Filecoin (⨎) is an open-source, public cryptocurrency and digital payment system intended to be a blockchain-based cooperative digital storage and data retrieval method.[1][2][3][4] It was developed by Protocol Labs and shares some ideas from InterPlanetary File System[5] allowing users to rent unused hard drive space.[6] A blockchain mechanism is used to register the deals.[7] 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.[8]

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History

The project was launched in August 2017, and raised over $200 million within 30 minutes.[7][9]

In 2020, the project set up the Filecoin Foundation to support the development of the protocol, and the Filecoin Foundation for the Decentralized Web to support other projects contributing to the ecosystem of the decentralized web.[10]

Philanthropy

In April 2021, the Filecoin Foundation donated 50,000 filecoins worth $10,000,000 to the Internet Archive.[11] 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.[12]

Network total storage power

As of November 2023, the total storage capacity was 25 EiB,[13] and total data stored was 2.0 EiB.[14]

See also

References

  1. [1]
    "Showdown in the Cloud: Dropbox IPO, Meet the Filecoin ICO". Observer. 2017-07-11. Retrieved 2017-08-11.
  2. [2]
    Tepper, Fitz (10 August 2017). "Filecoin's ICO opens today for accredited investors after raising $52M from advisers | TechCrunch". Retrieved 2017-08-11.
  3. [3]
    Vigna, Paul (2017-08-11). "Latest Hot Digital Coin Offering: $187 Million in One Hour for Filecoin". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-08-11.
  4. [4]
    "Investors poured millions into a storage network that doesn't exist yet". Ars Technica. Retrieved 2017-08-11.
  5. [5]
    "IPFS and Filecoin". Filecoin Docs. Archived from the original on 2022-09-05. Retrieved 2022-09-05.
  6. [6]
    Johnson, Steven (2018-01-16). "Beyond the Bitcoin Bubble". The New York Times. Retrieved 2018-09-26.
  7. [7]
    Corbyn, Zoë (2018-09-08). "Decentralisation: the next big step for the world wide web". The Observer. ISSN 0029-7712. Retrieved 2019-10-05.
  8. [8]
    Bravo-Marquez, Felipe; Ugarte, Martin; Reeves, Steve (April 2009). "Proof-of-Learning: a Blockchain Consensus Mechanism based on Machine Learning Competitions". 2019 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPCON). 2019 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPCON). p. 119-124. doi:10.1109/DAPPCON.2019.00023. hdl:10289/12900. ISBN 978-1-7281-1264-0. S2CID 199440961. Retrieved 27 September 2022.
  9. [9]
    "What are initial coin offerings?". The Economist. 2017-08-21. ISSN 0013-0613. Retrieved 2019-10-05.
  10. [10]
    "Protocol Labs Collaborates with Consensys to Bring Filecoin to Ethereum". Consensys. Retrieved 2024-04-20.
  11. [11]
    Hanamura, Wendy (2021-04-01). "Filecoin Foundation Grants 50,000 FIL to the Internet Archive". Internet Archive Blogs. Retrieved 2022-09-28.
  12. [12]
    Thu, Apr 8th 2021 3:39pm-Mike Masnick (8 April 2021). "Filecoin Foundation Donates $10 Million Worth Of Filecoin To Internet Archive". Techdirt. Retrieved 2021-04-15.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. [13]
    "Filfox Explorer". filfox.info. Retrieved 2023-07-05.
  14. [14]
    "Filecoin Storage Stats". storage.filecoin.io. Retrieved 2023-05-03.
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