TOP COINS TO BUY 2023 | Filecoin – Decentralized Cloud Storage for WEB 3.0 | Crypto Price Prediction

Last updated Jan 26, 2023

00:00 Introduction
01:18 Filecoin price
01:44 What is Filecoin?
02:03 Are the Founders of Filecoin?
02:58 What Makes Filecoin Unique?
03:54 Algorand Price Prediction
04:36 My thoughts

Today we added increased our position in Filecoin (FILE) @ 5.34.
Trading at 89.23% below its all time high. Which could generate 4,318% return on investment if it hits its previous ATH

But tell me what did you do?

The world is moving towards decentralized cloud storage in fact before we will see crypto mass adoption, the infrastructure of the web 3.0 needs to be in place and decentralized storage plays a vital role centralized cloud computing is yesterdays news, the world is moving towards decentralized cloud storage that provides multiple user access while also ensuring data security.

The blockchain-based file storage network has been recently attracting increasing interest, especially Filecoin.

Filecoin is a blockchain data storage service; it exists as a direct competitor to data clouds like Amazon’s S3 and Alphabet’s Google Cloud.

What is Filecoin?

Filecoin offers a decentralized storage method where users offer up their unused hard drive space to store data, which can be retrieved locally at lightning-fast speeds.

Who Are the Founders of Filecoin?

Filecoin was founded by Juan Benet, who also created the Interplanetary File System.
The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network.

Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

What Makes Filecoin Unique?

Filecoin aims to store data in a decentralized manner. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor.

Decentralized storage systems like Filecoin allow people to be their own custodians of their data, as well as makes the web more accessible to people worldwide. Since participating in the Filecoin network by mining and storing, is directly related to winning more block rewards, Filecoin incentives

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