What is Filecoin (FIL)?
Filecoin is a decentralized storage system that aims to "store the most important information of humanity". The project raised $ 205 million in an initial currency offering (ICO) in 2017 and initially planned a launch date in mid-2019. However, the launch date for Filecoin Mainnet was postponed to Block 148,888, which is expected to be mid-October 2020.
The project was first described in 2014 as an incentive for interplanetary file systems (IPFS), a peer-to-peer storage network. Filecoin is an open protocol and supported by a blockchain that records transactions made by network participants with transactions made using blockchain's native currency FIL. Blockchain is based on both proof-of-replication and proof-of-spacetime.
Who are the founders of Filecoin?
Filecoin was founded by Juan Bennett, who also created the Interplanetary File System. Bennett is an American computer scientist who studied at Stanford University. Since founding Protocol Labs in May 2014, he joined Y Combinator in the summer of 2014 with the intention of supporting both IPFS and Filecoin as well as other projects.
What makes Filecoin unique?
The goal of Filecoin is to store data in a decentralized manner. Unlike cloud storage companies such as Amazon Web Services or CloudFlare, which are prone to centralization issues, Filecoin uses its decentralized nature to protect data location integrity, making it easily retrievable and difficult to censor.
Decentralized storage systems like Filecoin allow people to be their own guardians of their data, as well as make the web more accessible to people worldwide. Since participating by digging and storing in the Filecoin network is directly related to winning more block rewards, Filecoin encourages participants to work honestly and save as much data as possible.
Filecoin Price
Filecoin is priced at $ 20.43 USD today with a 24-hour trading volume of $ 777,819,196 USD. We update the USD price from our FIL in real-time. Filecoin has risen 4.14% in the last 24 hours. The current CoinMarketCap ranking is # 37, with a live market cap of $ 3,468,528,325 USD. It has a circulation supply of 169,763,029 FIL coins and a maximum. Supply not available.
If you want to know where to buy Filecoin, the top cryptocurrency exchanges for trading Filecoin stocks are currently Binance, OKX, BTCEX, BitCoke, and DigiFinex. You can find others listed on our Crypto Exchange page.
Filecoin (FIL) price forecast and future outlook
Since Filecoin's main purpose is to securely store files in its blockchain, it also has the potential to become a go-to storage space for major technology giants. The OpenSea platform, the largest NFT trading platform, already uses Filecoin, as mentioned above. Institutional investors are always looking for projects that have high potential and use, Filecoin (FIL) is one of them. As the Web3 trend picks up speed, a huge increase in the price of FIL tokens can be expected.
It is important to note that Filecoin's blockchain is not only a great place to store large files but also a great storage space for other blockchains. It is a fact that the top 10 cryptocurrencies worldwide have their own blockchains and this is due to the trust in the eyes of the crypto users of these blockchains. However, as FileCoin continues to grow and unboards several blockchains on its platform, it is likely to become the top blockchain. With this change, the price of FIL tokens can skyrocket on and off the moon.
Filecoin (FIL) is currently priced at $ 29.99, down 85% from its all-time high of 236.84. Since its inception, the FIL currency has gone from $ 20 to $ 236. However, the infamous crypto crash of 2021, which occurred in May 2021, token price slide so much that it has not yet been able to recover. According to many crypto experts, this price slide is temporary, as the Web 3.0 trend is seen as the next big thing in the blockchain world. In 2022, the price of the FIL coin could recover quickly, and it is difficult to predict whether it will soon reach an all-time high of $ 236, with the card jumping to 100. However, the high volatility of the crypto market makes it very difficult to predict the probable price increase of FIL tokens.
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