Filecoin

Filecoin

Filecoin

Open-source, public cryptocurrency

Filecoin (⨎)[a] is a cryptocurrency intended to be a blockchain-based cooperative digital storage and data retrieval method.[2][3][4][5] It was developed by Protocol Labs and shares some ideas from InterPlanetary File System allowing users to rent unused hard drive space.[6][7] Filecoin is an open protocol and uses a blockchain to record participation in the network.[8] Transactions are made using the blockchain’s currency, FIL. The blockchain is based on both proof of-replication and proof of space-time.[9]

This article contains special characters. Without proper rendering support, you may see question marks, boxes, or other symbols.


Quick facts Denominations, Plural …

Filecoins are paid to miners who provide storage for clients, as opposed to Bitcoin where miners secure the network and maintain consensus.[10]

History

The project was launched in August 2017, and raised over $200 million within 30 minutes via an initial coin offering.[8][11]

In 2020, the project set up the Filecoin Foundation under the leadership of founding officer Megan Klimen to support the development of the protocol, and the Filecoin Foundation for the Decentralized Web to support other projects contributing to the ecosystem of the decentralized web.[12][non-primary source needed]

Their Board of Directors and advisors include Brewster Kahle (Founder of Internet Archive), Joe Lubin (Founder of Consensys & Cofounder of Ethereum), and Denelle Dixon (CEO of Stellar Development Foundation).[13]

Philanthropy

In April 2021, the Filecoin Foundation donated 50,000 filecoins worth $10,000,000 to the Internet Archive.[14][15] In addition, Internet Archive’s founder Brewster Kahle and director of partnerships Wendy Hanamura joined the boards of advisors of Filecoin and the Filecoin Foundation for the Decentralized Web.[16]

See also

Notes

  1. This is an “integral with double stroke” unicode character with the designation U+2A0E.[1] It is in the Supplemental Mathematical Operators Unicode block.

References

  1. [1]

    “Unicode Character “⨎” (U+2A0E)”.

  2. [2]
    “Showdown in the Cloud: Dropbox IPO, Meet the Filecoin ICO”. Observer. 2017-07-11. Archived from the original on 2020-11-09. Retrieved 2017-08-11.
  3. [3]
    Tepper, Fitz (10 August 2017). “Filecoin’s ICO opens today for accredited investors after raising $52M from advisers | TechCrunch”. Archived from the original on 2021-01-19. Retrieved 2017-08-11.
  4. [4]
    Vigna, Paul (2017-08-11). “Latest Hot Digital Coin Offering: $187 Million in One Hour for Filecoin”. Wall Street Journal. ISSN 0099-9660. Archived from the original on 2020-11-30. Retrieved 2017-08-11.
  5. [5]
    “Investors poured millions into a storage network that doesn’t exist yet”. Ars Technica. Archived from the original on 2021-01-20. Retrieved 2017-08-11.
  6. [6]
    “IPFS and Filecoin”. Filecoin Docs. Archived from the original on 2022-09-05. Retrieved 2022-09-05.
  7. [7]
    Johnson, Steven (2018-01-16). “Beyond the Bitcoin Bubble”. The New York Times. Archived from the original on 2021-12-21. Retrieved 2018-09-26.
  8. [8]
    Corbyn, Zoë (2018-09-08). “Decentralisation: the next big step for the world wide web”. The Observer. ISSN 0029-7712. Archived from the original on 2023-09-13. Retrieved 2019-10-05.
  9. [9]
    Bravo-Marquez, Felipe; Ugarte, Martin; Reeves, Steve (April 2009). “Proof-of-Learning: a Blockchain Consensus Mechanism based on Machine Learning Competitions”. 2019 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPCON). 2019 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPCON). p. 119-124. doi:10.1109/DAPPCON.2019.00023. hdl:10289/12900. ISBN 978-1-7281-1264-0. S2CID 199440961. Retrieved 27 September 2022.
  10. [10]
    Gupta, Pranay; Tham, T. Mandy (2018-12-03). Fintech: The New DNA of Financial Services. Walter de Gruyter GmbH & Co KG. p. 148. ISBN 978-1-5474-0090-4.
  11. [11]
    “What are initial coin offerings?”. The Economist. 2017-08-21. ISSN 0013-0613. Archived from the original on 2019-09-05. Retrieved 2019-10-05.
  12. [12]
    “Protocol Labs Collaborates with Consensys to Bring Filecoin to Ethereum”. Consensys. Archived from the original on 2024-04-20. Retrieved 2024-04-20.
  13. [13]
    “Filecoin Foundation Announces Board of Directors”. fil.org. Retrieved 2024-11-26.
  14. [14]
    Hanamura, Wendy (2021-04-01). “Filecoin Foundation Grants 50,000 FIL to the Internet Archive”. Internet Archive Blogs. Retrieved 2022-09-28.
  15. [15]
    “Filecoin Foundation donates $10M in FIL tokens to Internet Archive”. Cointelegraph. 2021-04-02. Archived from the original on 9 Jul 2023. Retrieved 2025-07-15.
  16. [16]
    Thu, Apr 8th 2021 3:39pm-Mike Masnick (8 April 2021). “Filecoin Foundation Donates $10 Million Worth Of Filecoin To Internet Archive”. Techdirt. Archived from the original on 2021-04-15. Retrieved 2021-04-15.{{cite web}}: CS1 maint: numeric names: authors list (link)

Source: Wikipedia. License: CC BY-SA 4.0. Changes may have been made. See authors on source page history.

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