Filecoin

About Filecoin

Filecoin (FIL) is a decentralized storage network that allows users to buy and sell unused hard drive space on an open marketplace. Unlike traditional cloud storage providers, Filecoin removes centralized control by letting anyone worldwide participate as a storage provider, creating a competitive market where pricing is driven by supply and demand rather than corporate decisions. Built on top of the InterPlanetary File System IPFS, Filecoin uses cryptographic proofs to verify that files are stored correctly over time, making it a foundational layer for decentralized data storage in the broader Web3 ecosystem.