FIL
Filecoin
FIL

Filecoin price

in USD
$2.5090
-$0.06000 (-2.34%)
USD
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Market cap
$1.71B #46
Circulating supply
683.25M / 1.96B
All-time high
$237.82
24h volume
$176.74M
3.9 / 5
FILFIL
USDUSD

About Filecoin

Storage
DePIN
Official website
White Paper
Block explorer
CertiK
Last audit: Jun 1, 2020, (UTC+8)

Filecoin’s price performance

Past year
-43.32%
$4.43
3 months
-10.43%
$2.80
30 days
+9.37%
$2.29
7 days
-7.18%
$2.70

Filecoin on socials

CoinDesk Indices
CoinDesk Indices
The CoinDesk 20 is currently trading at 3924.15, down 1.1% (-42.13) since 4 p.m. ET on Tuesday. One of 20 assets are trading higher. Leaders: $BTC (+0.0%) and $ETH (-0.1%). Laggards: $AVAX (-3.7%) and $FIL (-3.5%).
12.76K
17
Kong Trading 🦍
Kong Trading 🦍
$PEAQ is dominating the DePIN narrative, with the highest Mindshare-to-FDV ratio across the sector It’s leading over big names like $FLUX, $HNT, and $FIL proving that attention is flowing where the fundamentals and vision align Still early, still undervalued
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59
Devansh Mehta
Devansh Mehta
Got some serious alpha today evening from @momack28 on evolution of filecoin ecosystem funding They currently have 2 primary program: ProPGF & Retropgf They currently allocate much more thru ProPGF but there's significant time load, taking 6-7 committee members over 1.5 months to figure out & other management members to coach applicants for properly sizing their ask + deliverables So they are looking at 2 ways to reduce the overhead; - Have investors take charge of funding proactively so they can put more via retropgf, which has lesser overhead - Run simulations where a model of a judge gives suggested allocations to be compared against actual judges, so if the variance is low we can start moving to the digital AI twin of the judge One problem with RPGF is timeframes, where if we try judging results too soon there's no signal while if we wait too long it's hard to allocate reliably in the next round Their solution to this quandary is having base amounts for reliable teams so they can work securely on long term strategic projects while growth amounts can be thrown at various promising pilots. It's important to have space for long gestation projects but still bake in accountability We also spoke about how the current impact evaluator loop in filecoin is on storage (whether utilized or not) but they want to somehow extend it to those who bring in demand, possibly using a bittensor style system (added to my list of projects to do a deep dive on) Finally the most exciting part was how in 2026 they want the filecoin network to fund these goods instead of the various filecoin allied entities They have a fixed 2B FIL supply but ideally the network comes to consensus on using the 300 million FIL reserve for supercharging their growth I see this initiative as an early run for what Ethereum block rewards funding our ecosystem would look like, an inevitability unless we somehow ossify the protocol over the next decade Overall top notch presentation with 2 very clear projects; 1. Create a model of a particular judge and see if it has high variance from results of the actual judge 2. Figure out how an ecosystem can use block rewards or issuance for supporting itself without reliance on a fixed token distribution at the start that gradually winds down
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Devansh Mehta
Devansh Mehta
In today's open session we ran an analysis on the application of impact evaluator or block reward type systems for 2 domains: academic publishing & environment We derived 5 useful features in their design 1. All impact evaluator functions require credible conversion into fungibility Hash power for btc, storage for fil, etc. are clear mathematical functions allowing for issuance against some formula But people only buy into the issuance if they accept its neutrality. For eg, carbon credits are fungible but many coal polluters use some slightly better technology and receive credits so it's not entirely credible 2. If properly obtained, impact evaluator systems become knobs by which we can align long term actors around an ideal outcome we want They should also be metrics that are hard to obtain but easy to verify, similar to btc or storage capacity 3. We want to ideally first solve some problem locally like "is this paper enough to be accepted to the conferences" And make those inputs onto more global problems like "is the conference high impact", "how good is a researcher as measured by their publication in good conferences" 4. We want impact evaluators to be self upgrading systems, otherwise they can ossify into bastions of power A good example is the implementation of plurality in community notes or cluster QF. If 2 people normally disagree but now agree, that has a higher weight. But if they again agree next time it has a lower weight since last time they voted together 5. Finally, we have impact evaluators as hard mathematical functions that release some emissions vs more soft & irrational forces like market prices of that currency, which need to be squared against each other
11.32K
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Filecoin FAQ

Currently, one Filecoin is worth $2.5090. For answers and insight into Filecoin's price action, you're in the right place. Explore the latest Filecoin charts and trade responsibly with OKX.
Cryptocurrencies, such as Filecoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Filecoin have been created as well.
Check out our Filecoin price prediction page to forecast future prices and determine your price targets.

Dive deeper into Filecoin

Filecoin, founded in 2014, is a peer-to-peer (P2P), open-source data storage network that uses blockchain technology to store files reliably and verifiably. Anyone needing to store their files or with storage space to spare can join and participate in the network. Consider it a cold storage, but instead of being owned by a single entity such as Google or Amazon, it is owned by everyone.

Data storage on Filecoin is entirely private; it is fully encrypted and secured, meaning no one, not even your storage provider, can read it. Additionally, Filecoin users do not need to worry about storage space because the network has a capacity of 2.5 billion gigabytes, 40 times the size of the internet.

Filecoin employs Proof of Replication (PoRep) and Proof of Spacetime (PoSt) rather than Proof of Stake (PoS). According to PoRep, miners will be compensated with FIL tokens if they can demonstrate that they received the cryptographically encoded data from the client. On the other hand, PoSt ensures that the data is kept for the time period specified in the client's contract.

Users typically pay with FIL tokens to store their files with storage providers. The price of storage on Filecoin is determined by the network's demand and supply for storage, and anyone can participate. Users are not limited to a small and defined set of storage providers but can store their files with any storage provider offering any deal available on the network. This enables users to store and access their files at extremely low prices.

Filecoin's native cryptocurrency, FIL, serves as a payment medium. Users pay FIL for storage services, and storage providers earn FIL units for staking storage space. The Filecoin blockchain immutably records FIL transactions as well as storage proofs generated by storage providers.

FIL price and tokenomics

Filecoin's ICO was one of the biggest successes in the blockchain industry, raising a total of $205.8 million. With an initial funding goal of $40 million, its initial token price was pegged at $5 when introduced into the market.

It has a maximum supply of 2 billion tokens with a market capitalization of $1.7 billion. In the fall of 2020, Filecoin organized Space Race to increase the network's data capacity by 400 pebibytes. 400 miners participated in the testnet phase and were awarded 3.5 million FIL tokens.

Filecoin is a deflationary asset with a certain amount of FIL burned with every transaction. The fees burned are sent to an irrevocable burn address to compensate for the network expenditure of resources. The idea is based on Ethereum's EIP1559.

About the founders

Juan Benet co-founded Filecoin in 2014 with the California-based company Protocol Labs, of which he is the CEO.

Benet is a Stanford University graduate with a master's degree in computer science. Before Filecoin, he was the co-founder and CTO of Loki Studios, a mobile gaming studio focused on developing location-aware games. He also founded Athena Academy, a non-profit private school in Palo Alto devoted to educating students with dyslexia.

According to official documents, Filecoin secured $205.8 million during one of the industry's largest funding rounds. The project even received backing from venture capitalists Sequoia and Andreessen Horowitz.

Filecoin highlights

First, the popular browser Brave added Filecoin to their wallet, exposing Filecoin to over 56 million Brave users. This integration helped in creating awareness among Brave users about Filecoin.

Second, instead of temporary file storage, Filecoin partnered with Lighthouse to offer their users permanent file storage within the Filecoin ecosystem, coming at a one-time cost. On Filecoin, files are removed if clients stop paying storage fees, so offering permanent file storage is essential for the most important files or irrefutable information, such as NFTs.

Next, the Filecoin Foundation recently donated $10 million worth of Filecoins (50,000 FIL tokens) to the Internet Archive after its founder joined the Filecoin Foundations board of advisors. The donation is aimed at broadening the Internet Archive's reach to help more people across the globe educate themselves.

Finally, Filecoin had a v16 network upgrade, codenamed Skyr, and switched to using the Wasm-based Filecoin Virtual Machine to operate its basic functionality. This upgrade is the first step toward enabling user programmability on Filecoin and is the network's most significant change since its launch almost two years ago.

Disclaimer

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Market cap
$1.71B #46
Circulating supply
683.25M / 1.96B
All-time high
$237.82
24h volume
$176.74M
3.9 / 5
FILFIL
USDUSD
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