Difference between revisions of "Filecoin"
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(Created page with "'''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. Filecoin is an open protocol and backed by a blockchain that records commitments made by the network’s...") |
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Latest revision as of 18:49, 7 May 2022
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. 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.[1]