📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

FIL/EUR - Filecoin Euro

Coinbase Pro
Currency in
Real-time Data
Day's Range
52 wk Range
4.32 / 4.32
Vol (24H)
Market Cap
Day's Range
52 wk Range
Max Supply
Circulating Supply
Strong Sell
Strong Buy
Strong Sell
How do you feel today about FIL/EUR?
Vote to see community's results!

Where to buy Filecoin

Filecoin is available on Binance, Coinbase, Huobi, Gate.io, Gemini, Kraken, Kucoin, and over 30 other exchanges. You can also buy Filecoin from cryptocurrency trading broker eToro. However, you need to open an account on these platforms to buy or trade Filecoin.

What is Filecoin?

Filecoin is a promising project which aims to revolutionize the cloud and data storage industry. Leveraging blockchain technology, Filecoin is a decentralized file storage system that seeks to “store humanity’s most important information.” It was developed by Protocol Labs and built atop the InterPlanetary File System (IPFS) as an incentive layer. Filecoin allows users to rent unused or dormant hard drive spaces with the owners of this free storage rewarded with the project’s token FIL.

How does Filecoin work?

Filecoin splits each user’s data into fragments and spreads across the network using secure communication. Each Filecoin miner has a tiny fragment of the data, which only the data owner can access with a passkey. To ensure that each Filecoin miner upholds the tenets of the network and does not act maliciously, Filecoin requires each miner to have enough space to store clients’ data and hold them throughout the lifetime of the deal. Filecoin can ensure these two steps are upheld by using the Proof of Replication (PoRep) which requires miners to prove that they have stored the data in a unique way that no other miner can replicate or copy.

What are the advantages of Filecoin?

One advantage of Filecoin is its ability to decentralize data across several nodes while making it easily accessible and affordable. Another is that users can boycott centralized platforms like Amazon Web Services (AWS), enabling better user experience and overall satisfaction.

How to mine Filecoin

Mining Filecoin requires top-performing hardware rigs and technical know-how in systems deployment and administration.  This means that Filecoin cannot be mined by just anyone and will require a sizable amount of capital to get started.

What is Filecoin used for?

Filecoin or FIL token is used to store files in a peer-to-peer (P2P) manner, and it operates with incentives to ensure that mining nodes store user data reliably over time. Users pay with the protocol’s token FIL to store their files on the network, while storage miners are rewarded for storing those files for a long time.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.