Wat is Filecoin

Filecoin is a cryptocurrency and a decentralised data storage platform that was created in America in 2014.

Stanford graduate Juan Benet first launched Protocol Labs, a startup laboratory to research computer networks and create an \"improved\" Internet space. For this reason, and also to preserve all the knowledge accumulated by humanity, a particular peer-to-peer protocol was developed under the name InterPlanetary File System (hence the name of the token, Filecoin).

In 2017, an ICO was held as a result of which it was possible to set a record for the crypto world at that time, raising $257 million. Following such success, in 2018, Protocol Labs announced the launch of a grant program for researchers, announcing a total prize amount of $5 million. Interested users were invited to put forward practical ideas for optimising and improving the Filecoin project.

In 2020, the developers launched the FIL coin listing on the largest crypto exchanges: Binance, OKEx, and Huobi. By the way, OKEx invested $10 in developing this project in April 2021. An exciting fact preceded this: at the beginning of the same year, it became known that the capacity of Filecoin had increased to 2.5 billion GB. This volume can be compared with 11250 full pages of Wikipedia.

It is logical that this project follows trends, and therefore, in the same year, it launched the NFT Storage service. Its task is to store coins and protect the security of metadata.