Filecoin (FIL)
- Official Website: filecoin.io
- Definition: Filecoin is a decentralized storage network that allows users to rent out unused storage space.
- Category: Blockchain, Decentralized Storage, Token.
- What It Is: A platform for decentralized file storage and retrieval.
- Function: Enables users to store and retrieve data in a decentralized manner.
- Analogy: Think of Filecoin as a decentralized Dropbox. It stores your files securely without relying on a central server.
- Pros: Decentralized, secure, strong use case for data storage.
- Cons: Complexity, competition from centralized storage providers.
- Controversies: Slow adoption, reliance on tokenomics.
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This page was last updated on January 28, 2025.
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