Abstract
Filecoin offers decentralized storage and cloud services on a global, open market, with various use cases, including NFTs, Web3, gaming, metaverse, and audio/video. Put simply, Filecoin is a peer-to-peer version of AWS that regularly verifies data availability and integrity. Filecoin has the largest market share in terms of used storage and network capacity. They aim to offer the foundation for data-intensive Web3 services through verifiable storage, content retrieval, compute, and programmable apps but they still need to prove its reliability. The network’s native token Filcoin (FIL) is user to incentivize storage providers to offer their storage capacity in an efficiently priced way.