The crypto world is looking at Filecoin, whose Initial Coin Offering (ICO) raised nearly $ 257 million in one month. The most comprehensive ICO project in crypto history to date starts today on the mainnet.
Filecoin is a decentralized data storage platform
The mission of the Bitcoin Bank project is to create a decentralized, efficient and robust basis for the exchange of information.
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Filecoin is no ordinary ICO blockchain project. The project aims to fundamentally change the core of today’s web infrastructure through a decentralized network called the InterPlanetary File (IPFS).
What problem does Filecoin want to solve?
IPFS are intended to revolutionize the existing HTTP standard and enable the sharing and storage of media in a decentralized network.
Put simply, the main idea is that users store data on the hardware of computers. They then make this data available in the Filecoin network.
As a reward, users receive Filecoin and thus have the opportunity to exchange the network’s native coin for digital or fiat currencies.
In order to participate in this process, users must use the network’s official mining software.