Inverse h&s for decentralized Dropbox competitor
Filecoin offers filesharing and data storage like Dropbox and Amazon webservices, but the difference is that it is decentralized.
Users want to store data and want
- Speed
- Redundancy
Miners offer storage and need
- an internet connection
- and spare disk space.
Mining is based on
- Proof of replication
- Proof of spacetime
Miners proof they have stored data for the designated space and time.
Users request a token to store their data.
The more users use the network the higher the demand for tokens.
With the open ledger anybody can check that miners are storing the data.
Filecoin can become faster cheaper and more scalable then its centralized counterparts. It is also censorship resistant.
Around 65 million are currently circulating. 70% were sold during their ICO.
Main net launch was in q4 2020.
The engineer is owner of Protocol Labs and has studied at Stanford University.
They received 275 million dollar for their ICO so they have enough funds to improve their technology.
Big pro’s:
- Censorship resistance!
- Developers can build apps on top of the Filecoin network
- People already build apps similar like Dropbox on top of it!
Users can sign up, pay and start using it without any technical know-how needed.
They burn tokens! That decreases the available tokens and increases scarcity!
If you understand that such a basic thing like file storage is really necessary for the internet you will understand why so much people want to pay for it. With Filecoin you can stop being afraid that somebody else deletes your files.
I am not a financial professional and I am new to trading. You should do your own research.
Users want to store data and want
- Speed
- Redundancy
Miners offer storage and need
- an internet connection
- and spare disk space.
Mining is based on
- Proof of replication
- Proof of spacetime
Miners proof they have stored data for the designated space and time.
Users request a token to store their data.
The more users use the network the higher the demand for tokens.
With the open ledger anybody can check that miners are storing the data.
Filecoin can become faster cheaper and more scalable then its centralized counterparts. It is also censorship resistant.
Around 65 million are currently circulating. 70% were sold during their ICO.
Main net launch was in q4 2020.
The engineer is owner of Protocol Labs and has studied at Stanford University.
They received 275 million dollar for their ICO so they have enough funds to improve their technology.
Big pro’s:
- Censorship resistance!
- Developers can build apps on top of the Filecoin network
- People already build apps similar like Dropbox on top of it!
Users can sign up, pay and start using it without any technical know-how needed.
They burn tokens! That decreases the available tokens and increases scarcity!
If you understand that such a basic thing like file storage is really necessary for the internet you will understand why so much people want to pay for it. With Filecoin you can stop being afraid that somebody else deletes your files.
I am not a financial professional and I am new to trading. You should do your own research.
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