Filecoin (FIL)

ICO

IEO

Last updated: Aug 17, 2020

Filecoin is a distributed electronic currency similar to Bitcoin. Unlike Bitcoin’s computation-only proof-of-work, Filecoin’s proof-of-work function includes a proof-of-retrievability component, which requires nodes to prove they store a particular file. The Filecoin network forms an entirely distributed file storage system, whose nodes are incentivized to store as much of the entire network’s data as they can.

IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Overview

Product type	Platform
Founded	United States
Whitepaper	Open

What is Filecoin

Filecoin is a peer-to-peer network that stores files, with built-in economic incentives to ensure files are stored reliably over time.

In Filecoin, users pay to store their files on storage miners. Storage miners are computers responsible for storing files and proving they have stored the files correctly over time. Anyone who wants to store their files or get paid for storing other users’ files can join Filecoin. Available storage and pricing is not controlled by any single company. Instead, Filecoin facilitates open markets for storing and retrieving files that anyone can participate in.

Filecoin includes a blockchain and native cryptocurrency (FIL). Storage miners earn units of FIL for storing files. Filecoin’s blockchain records transactions to send and receive FIL, along with proofs from storage miners that they are storing their files correctly.

Details

Public sales: Aug 10, 2017 - Sep 10, 2017
IEO (BW Launchpad): Aug 04, 2020 - Aug 06, 2020
Token supply: 200,000,000 FIL
Total tokens for sale: 200,000,000 FIL
Hard cap: 150,000,000 USD
Raised: 257,000,000 USD