Filecoin

Data & Analytics
Filecoin header

Filecoin

Data & Analytics

Decentralized Storage Network

United States
$309M
Total amount raised
2014
Year of establishment
Active
Status

About

Hi we’re Filecoin!


Filecoin is a decentralized data storage network. Users are able to upload files to the network, which are securely stored by miners. Miners get compensated for storing files by receiving Filecoin (FIL). Miners also validate blocks on the Filecoin blockchain, proving that they are correctly and securely storing the data.

When a user place a request on the network to store data, miners will send offers stating how much they wish to receive in order for the data to be stored on their hardware. This creates a global decentralized marketplace for data storage.

Protocol Labs initially proposed the Filecoin network in July 2014, and the design was substantially improved in early 2017.

The Filecoin network uses a consensus algorithm called Proof of Space Time (PoST). This algorithm is similar to the Proof of Work (PoW) algorithm, but instead of investing in electricity consumption, miners invest in hardware storage. The more you storage capacity a miner supplies to the network, the more likely it is that this miner will win the right to update the next block on the blockchain.

Key objective

To be a blockchain-based cooperative digital storage and data retrieval method

Slogan / Motto

A Decentralized Market for Storage

Use cases

Storage Solutions

Team

Team members

Chris Brocoum Head Of FInance

Responsibilities

Economist

Juan Benet Founder & CEO

Responsibilities

Engineer & CEO

Customers / Partners

Products

Tokens

Filecoin
Filecoin
($FIL)
Type
Utility tokens
Price
$138.12
Market Cap
$9,727,221,311.00

Funding

Received funding
$309,120,000
Total amount raised
4
Rounds
22
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
$257,000,000
ICO/Token Sale
LombardStreet Ventures
zk Capital
$52,000,000
ICO/Token Sale
Andreessen Horowitz (a16z)
BlueYard Capital
Boost VC
David J. La Placa
Genesis One Capital
James Sowers
Jason Fang
June Fund
Sequoia Capital
Union Square Ventures
Visary Capital
Winklevoss Capital
N/A
Venture
Hard Yaka
$120,000
Seed
Digital Currency Group
Haitao Capital
Haystack
Kevin Ding
Naval Ravikant
Winklevoss Capital
Y Combinator

News

Filecoin Launches Decentralized Storage Service for NFTs

NFT.Storage, a new service created by Filecoin and Pinata, aims to preserve the integrity of non-fungible tokens.


12 days ago


Product update/release
Filecoin

Hear From Coinbase, Binance, Mark Cuban, Edward Snowden at Ethereal Summit 2021: Agenda Now Live

Chainlink, Filecoin, Aave, Compound, FTX, Nifty Gateway, and Zora are among the organizations at this year's Ethereal. You won't want to miss it.


16 days ago


General news
Coinbase
Binance Holdings Limited
Binance
ChainLink
Filecoin
Aave
Compound Labs
FTX

Filebase Raises $2 Million to Make Decentralized Storage as Easy as AWS

Decentralized storage protocols like Filecoin and Sia aren't quite as user-friendly as Amazon Web Services. For Filebase, that's a business opportunity.


25 days ago


Investment
Filecoin
Sia
AWS Blockchain

What’s behind China’s Filecoin hype?

Quick Take People’s Daily, the mouthpiece of the Chinese Communist Party, recently praised decentralized data storage protocol IPFS by name. Some government officials have also been touting IPFS and its complementary protocol, Filecoin. What’s behind the hype?


a month ago


Research
Filecoin
IPFS

An overview of decentralized storage networks

Quick Take Decentralized storage networks have the potential to expand existing blockchains’ capabilities. Incentive mechanisms are the main component of decentralized storage networks. At the moment, Filecoin is experiencing an excess supply, which is why storage miners store useless files. Arweave offers permanent storage thanks to its innovative incentive system.


a month ago


Research
Filecoin
Arweave