Press Release

Filecoin Overview

Filecoin is a peer-to-peer network that stores files, with built-in economic incentives to ensure files are stored reliably over time. In Filecoin, users pay to store their files on storage miners. Storage miners are computers responsible for storing files and proving they have stored the files correctly over time. Anyone who wants to store their files or get paid for storing other users’ files can join Filecoin. Available storage, and the price of that storage, is not controlled by any single company. Instead, Filecoin facilitates open markets for storing and retrieving files that anyone can participate in. Filecoin includes a blockchain and native cryptocurrency (FIL). Storage miners earn units of FIL for storing files. Filecoin’s blockchain records transactions to send and receive FIL, along with proofs from storage miners that they are storing their files correctly.

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