filecoin

Filecoin is a trusted decentralized storage system with the objective of "storing humanity’s most important information." The asset is an open-source cloud storage cryptocurrency. Filecoin was created by Juan Benet, who is also the creator of the Interplanetary File System. The initial release of Filecoin was on July 15th, 2014, and is based in San Francisco, California. It was launched with the aim of blockchain-based cooperative digital storage and retrieval.   Filecoin stores data in a decentralized manner, which contradicts the problems with centralization that are faced by its global rivals. Moreover, decentralization helps the network protect the integrity of the location of data. As a result, easy retrieval and hard-to-sense Filecoin allows users to be their own custodians, whilst making the web more accessible to the world.   Successively, the network rewards its participants for storing data and acting honestly. Unlike the majority of its rivals, Filecoin secures its network through Proof-of-Replication and Proof-of-Spacetime. Filecoin has its native token FIL, which is an ERC 20 token on the Binance smart chain mainnet.