Too Long; Didn't Read
3.28 USD
$2.1 B
1 EiB
$40 M
Digestible insights and updates on the
Filecoin network
Filecoin is building open
services for data
Our goal is to form a credible alternative to the legacy cloud
infrastructure, that matches it in scale and suite of data services.
Filecoin's vision is built around three core
pillars: storage, retrieval and transformation of data.
Storage Markets
An open market where individuals and organizations can contract with storage providers to store data.
The Filecoin community started with building Storage Markets as the first step.
As data has gravity, starting with storage made it easier to build retrieval and compute capabilities over the data.
Retrieval Markets
An open market where individuals and organizations can contract with retrieval providers to deliver content.
With retrieval capabilities on top of storage capabilities, this unlocks a greater universe of use cases which need faster retrieval speeds, such as decentralized video streaming etc.
Compute Over Data
An open market where compute power can be contracted.
With the growing need for compute resources especially with the rise of AI, open markets to contract compute resources are a compelling proposition.
Filecoin's approach includes facilitating different subnets to specialize in different kinds of compute jobs.
Notable protocol upgrades
Filecoin Virtual Machine (FVM)
The FVM, launched in March 2023, introduced smart contract programmability to Filecoin. This enabled diversity and efficiency in the provision of Storage, Retrieval and Compute services on Filecoin (for e.g., tapping into DeFi to fund storage provider operations).
Interplanetary Consensus (IPC)
IPC, launched in 2024, represents Filecoin's main scaling efforts. This in turn enables the blockchain to support multiple compute subnets and L2s.
Proof of Data Possession (PDP)
Targeted for Mainnet launch by the end of March 2025, is a new Filecoin ecosystem component enabling verifiable data accessibility and efficient retrievals.
Why Filecoin, why now?
A bet on decentralized physical infrastructure networks
Filecoin is a bet on decentralized physical infrastructure networks being a more effective way to coordinate the provision of cloud services in a growing data economy.
Crypto-economic incentives showing success
The crypto-economic incentives of Filecoin have successfully coordinated globally-distributed parties to bootstrap hardware to the network, resulting in rapid growth of storage capacity (exbibyte scale) at a lower cost.
Huge market opportunity
The market opportunity is massive, as the global cloud services industry is projected to grow to 1 trillion USD by 2028. Macro trends of big data and artificial intelligence further support Filecoin's potential.
Tokenomics designed for long-term alignment
Filecoin's tokenomics are designed to reward long-term participation and contribution to the network. Further improvements to the protocol may lead to increasingly valuable use cases for the network and the token.
FIL is the native utility token
FIL is the native utility token of the Filecoin network. It is used to facilitate Filecoin's on-chain economy by playing a number of functions: paying for on-chain messages, as collateral, and burned to regulate blockspace.
TL;DR Blog
State of Filecoin 2025
Dec 18, 2024
A retrospective on Filecoin’s 2024 progress and a look ahead at 2025’s key themes: Filecoin Web Services, Fast Finality, and new Value Streams.
From Storage to Intelligence: Exploring Filecoin’s Role in the AI Ecosystem
Oct 30, 2024
Explore the role of Web3 in the AI ecosystem by looking into innovative projects in the Filecoin ecosystem.
State of L2s on Filecoin
Oct 7, 2024
Explore the state of Layer 2 solutions on Filecoin, featuring innovations like Basin, Akave, and Storacha Network. Learn how these advancements are shaping the future of decentralized storage and data management.