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Filecoin
1.48
-0.04(-2.33%)
Real-time Data·
Day's Range
1.47
1.54
52 wk Range
0.99
11.82
Day's Range
1.471.54
52 wk Range
0.9911.82
- Bid/Ask
- -
- Vol (24H)
- 157.08M
- Market Cap
- 1.08B
- Rank
- 63
- Day's Range
- 1.47-1.54
- Bid/Ask
- -
- Vol (24H)
- 157.08M
- Market Cap
- 1.08B
- Rank
- 63
- Day's Range
- 1.47-1.54
- 52 wk Range
- 0.99-11.82
- Max Supply
- -
- Circulating Supply
- FIL733.27M
- Chg (7D)
- 10.13%
- 1 Month
- -0.67%
- 1 Year
- -75.28%
- YTD
- 13.98%
- Bid/Ask
- -
- Vol (24H)
- 157.08M
- Market Cap
- 1.08B
- Rank
- 63
- Day's Range
- 1.47-1.54
- 52 wk Range
- 0.99-11.82
- Max Supply
- -
- Circulating Supply
- FIL733.27M
- Chg (7D)
- 10.13%
- 1 Month
- -0.67%
- 1 Year
- -75.28%
- YTD
- 13.98%
Type:Currency
Group:Minor
Base:Filecoin
Second:US Dollar
Technical Analysis
Summary
Strong Sell
Sell
Neutral
Buy
Strong Buy
Strong Sell
Technical Indicators
Strong Sell
Moving Averages
Sell
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FAQ
Where to Buy Filecoin
Filecoin (FIL) is available on several major cryptocurrency exchanges, such as Binance, Coinbase, Huobi, Gate.io, Gemini, Kraken, Kucoin, and over 30 others. You can also buy Filecoin from cryptocurrency trading brokers such as eToro.
All of these platforms require investors to complete their sign-up process (including any necessary verification) to open an account in order to buy or trade Filecoin. Before signing up, ensure you also have a secure wallet for storing your Filecoin (FIL) for when you start to trade.
All of these platforms require investors to complete their sign-up process (including any necessary verification) to open an account in order to buy or trade Filecoin. Before signing up, ensure you also have a secure wallet for storing your Filecoin (FIL) for when you start to trade.
What Is Filecoin?
Filecoin is a decentralised storage network that users to rent out unused cloud storage space, and others to purchase this space. Users pay for storage with Filecoin tokens (FIL), which incentivise storage providers (miners) to offer their space and maintain data integrity. Developed in May 2017 by Protocol Labs, it's built on the InterPlanetary File System (IPFS), Filecoin ensures data is uniquely and securely stored using proofs like Proof of Replication and Proof of Space-Time.
Filecoin's decentralised approach offers several benefits, including secure and private data storage without relying on centralised entities. It is particularly useful for individuals, businesses, and developers of decentralised applications (dApps) looking for reliable storage solutions. By incentivising participants to contribute storage and retrieval services, Filecoin aims to lower costs and increase the efficiency and security of data storage, making it a key player in the emerging decentralised web (Web3) ecosystem.
Filecoin's decentralised approach offers several benefits, including secure and private data storage without relying on centralised entities. It is particularly useful for individuals, businesses, and developers of decentralised applications (dApps) looking for reliable storage solutions. By incentivising participants to contribute storage and retrieval services, Filecoin aims to lower costs and increase the efficiency and security of data storage, making it a key player in the emerging decentralised web (Web3) ecosystem.
How Does Filecoin Work?
Filecoin splits each user’s data into fragments and spreads across the network using secure communication. Each Filecoin miner has a tiny fragment of the data, which only the data owner can access with a passkey.
To ensure that each Filecoin miner does not act maliciously, Filecoin requires each miner to have enough space to store clients’ data and hold them throughout the lifetime of the deal. Filecoin can ensure these two steps are upheld by using the Proof of Replication (PoRep) which requires miners to prove that they have stored the data in a unique way that no other miner can replicate or copy.
To ensure that each Filecoin miner does not act maliciously, Filecoin requires each miner to have enough space to store clients’ data and hold them throughout the lifetime of the deal. Filecoin can ensure these two steps are upheld by using the Proof of Replication (PoRep) which requires miners to prove that they have stored the data in a unique way that no other miner can replicate or copy.
What Are the Advantages of Filecoin?
One advantage of Filecoin is its ability to decentralise data by spreading fragments across several nodes while making it easily accessible and affordable. Another is that users no logner need to be reliant on centralised platforms like Amazon Web Services (AWS), enabling better user experience and overall satisfaction.
How to Mine Filecoin
Mining Filecoin requires high-performance storage hardware and advanced technical skills in system deployment and administration. It's not accessible to everyone and requires a significant initial investment in enterprise-grade HDDs or SSDs, a powerful CPU, and ample RAM. Additionally, robust system management is essential to operate and maintain the mining setup effectively.
What Is Filecoin Used For?
Filecoin is a decentralised peer-to-peer (P2P) storage network offering secure and efficient data storage solutions. It's used for storing sensitive information with enhanced privacy, content distribution, and backing up critical data. Filecoin supports Web3 applications and provides a cost-effective alternative to traditional cloud storage, ensuring data redundancy and integrity. Users pay with the protocol’s token FIL to store their files on the network, while storage miners are rewarded for storing those files for a long time.
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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
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It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
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