Filecoin FIL
Rank #94 by market cap
Last 7 days
▼11.90%What Filecoin is
Filecoin is a decentralised storage network launched in 2020 by Protocol Labs, the team behind IPFS. It creates a market for disk space: providers offer storage, clients pay to have files kept, and the network verifies that the data is still being held rather than taking anyone's word for it.
The verification is the interesting engineering. Providers must lock collateral and continuously produce cryptographic proofs that they still hold the exact data they agreed to store. Fail to produce them and the collateral is slashed. That turns a promise into something enforceable without a contract or a court.
The honest caveat is about what all that capacity is used for. A large share of the network's committed storage has historically held no real client data — providers can pledge capacity and earn rewards for proving they could store something, which inflates the headline numbers considerably against actual paying demand. Retrieval speed and cost are a separate problem from storage and have been slower to mature. And running a storage business here means locking up FIL, so provider economics are exposed to the token price as much as to the storage market.
About the asset
Filecoin has no token contract — it is the native asset of its own chain, not a token issued on someone else's.
Price change
Filecoin data synced 43s ago from CoinGecko. Figures shown in USD. This page is market information, not financial advice — and nothing here is a recommendation to buy or sell FIL.