Welcome to the Consensus Show, where I cover the most popular cryptocurrencies in the world and give you unbiased information to help you come up with your own consensus. This is not financial advice.
Filecoin is a decentralized storage network that uses a cryptocurrency of the same name to facilitate transactions. It was created by Protocol Labs, a research, development, and deployment laboratory that focuses on building and promoting internet protocols.
Copy trading bots from the top traders. Try it for FREE.
The idea for Filecoin was first introduced in a white paper published in 2014 by Juan Benet, the founder and CEO of Protocol Labs. In the white paper, Benet described a decentralized storage network that would allow individuals and organizations to buy and sell storage space using a blockchain-based system.
Filecoin was developed as a response to the centralization of data storage, which has led to privacy concerns and a lack of control for users. With Filecoin, users can store their data on a distributed network of storage providers, rather than with a single, centralized provider. This decentralized approach to storage offers increased security and privacy for users, as well as the ability to choose where their data is stored.
