Filecoin protocol
Overview
Filecoin is a decentralized storage network that operates as a peer-to-peer marketplace for data storage and retrieval. It uses a blockchain with consensus mechanisms including proof-of-replication and proof-of-spacetime to verify that storage providers are correctly storing data. It is categorized as a DePIN (Decentralized Physical Infrastructure Network) protocol.
Within the DeFi Intel graph, Filecoin connects to 17 tracked entities, most strongly to DePIN Sector, Protocol Labs, FIL.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 5 of 17 total).
| Relation | Connected entity | Confidence |
|---|---|---|
member_of | DePIN Sector | 95% |
built_by | Protocol Labs | 95% |
issues | FIL | 95% |
integrates | InterPlanetary File System | 95% |
launched | Filecoin Virtual Machine (FVM) | 95% |
More on Filecoin
In-depth guides on Filecoin
Frequently asked questions
Who created Filecoin?
Filecoin was created by Juan Benet and his team at Protocol Labs, which published the Filecoin whitepaper in July 2017.
What is the FIL token used for?
FIL is the network's native token and serves as the medium of exchange in storage deals: clients pay FIL to store data and storage providers earn FIL for supplying storage.
How does Filecoin relate to IPFS?
Filecoin works as an incentive layer on top of IPFS, the peer-to-peer file system also developed by Protocol Labs, adding an economic market to IPFS's content addressing and distribution.
Sources
Facts on this page were verified against the following sources.