What is Filecoin?
Filecoin as name suggest it is storage based blockchain project that aim to innovate traditional storage system. Filecoin is nothing but decentralized storage network that allow user to store their data or information. The project will not be operated by any third party or central entity and will have economic incentives to ensure stored file reliability. Basically, Filecoin work as peer to peer network that simply store files for users.
Filecoin allow users and storage provider to join network, where anyone can store file and provider storage to get paid. Filecoin aim to bring cheap, affordable and transparent storage pricing on marketplace considering requirement of users, however price of storage will not be decided by any single company. As filecoin will open market for storing and retrieving information for everyone. while, storing files user get benefit to choose speed, redundancy, trade-off between cost with customized miner as per their requirement. filecoin application also allow to negotiate storage on network with any miner as per user choice.
Filecoin ecosystem along with blockchain uses native crytocurrency or native token i.e. FIL. This token on can earn by storage miner for storing files and verify files using their own blockchain, as every transaction recorded with blockchain.
Filecoin Price Prediction
| Month & Year | FIL Price Prediction |
|---|
Storj Price Prediction | Akash Network Price Prediction
Filecoin Overview
| Project name | Filecoin |
| Ticker Symbol | FIL |
| Total Supply | 14,553,663 |
| Official website | Filecoin.io |
| Based on | Decentralized storage |
| Launched year | 2017 |
| All-time high | $35.08 USD |
| Exchange Platform | Gemini, Gate.io, BitForex, Poloniex, BitZ, BiKi, TOKOK, BitAsset, Lbank, Excc, Coinlist Pro, BiOne. |
| Wallet | Math Wallet, Gemini Wallet. |
FIL ICO Overview
| Platform used | ERC-20 |
| Raised by | $257,000,000 USD |
| Date of ICO | 7 September 2017 |
| ICO Price | $5 USD |
| Partners | Eth2Singer, Ocean Protocol, Gemini, Dcoin, Ontology, Protofire, Bluezelle. |
FIL Price Analysis
FIL Price as per expectation and demand of cloud storage it started following bullish trend. FIL after announcement major crypto trading platform i.e. Gemini it started seeing huge growth in investment and volume. FIL since April 2019 trading at average price of $4.50 USD and in April 2020 price started surging. FIL in last 7 month is hiked from $4 USD to $35.08 USD i.e. all time high of October with 775% price change.
FAQ
How much Filecoin will be worth in 5 years?
Filecoin may cross $50 USD.
Is Filecoin a Good Investment?
Do your own research before investment, but as per our prediction filecoin can be good choice.
Conclusion
Cloud storage or p2p storage is constantly growing billion worth market that continue rising with number of users. Blockchain technology ability to improve security, transaction and security feature at same time and Filecoin also adopted this technology. Filecoin recently enter into top 50 blockchain project and along with decentralized finance this storage-based project also ruling in year 2020. Filecoin has great experience with team along with company is old enough to be trusted. In recent times decentralized storage and commuting project launching focusing on low cost, security and transparency. However, Filecoin current one of the top storage blockchain project and may worth in billion in upcoming years.
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