A decentralized storage network protocol
Filecoin is a decentralized network that stores files, with built-in economic rewards to ensure that files are maintained securely.
Through Filecoin, users pay to store their files in miners’ storage. Storage Miners are the machines designed to store files and ensuring that the files have been stored properly over time. Anyone that wants to store their files or get paid for keeping the files of other users can do so through Filecoin. Accessible storage and the price of such storage can not be controlled by any single storage unit.
Established in 2014, Filecoin ICO raised 257 million USD. Filecoin is a product of Protocol Labs, and the parent company is based in San Francisco, United States.