Filecoin (FIL)

The exchange rate of one FIL at 15:45 UTC is 5.637$

Chart | Average rate

The “Filecoin” project was created by a group of people at Protocol Labs, led by former entrepreneur Juan Benet, who was tasked with using the blockchain to create a global decentralized file storage by using free disk space on different computers around the world.

This idea was immediately supported by many large venture capital investors, including “Winklevoss Capital”, “Y Combinator” and “Sequoia Capital”, who invested huge sums in this startup, as a result of which more than $250 million was raised during the ICO in 2017. Meanwhile, the tokenomics was built in such a way that the development team had about 66% of the emission of all cryptocoins, which subsequently caused a lot of negative questions from the community, which was practically left without the right to vote for any changes in the ecosystem.

At the same time, the main technical document “Whitepaper” is written very competently, which is a confirmation of the competence and professionalism of the developers. That is, the Whitepaper describes in detail the principles of incentive mechanisms for participants and interaction between consumers and storage service providers.

However, many investors are concerned about the almost complete lack of information about the activities of the platform management, the expected performance of the blockchain network, the competitive environment, the expansion of the number of users, the security of file encryption, etc.

In addition, competition is one of Filecoin's biggest problems, as it will have to contend with many giants in this field, including Microsoft, Amazon, Google, and IBM, as a result of which the new platform, at the very least, must meet the following minimum requirements:

- the ability to provide free cloud storage from 5 to 15 GB, which will require several million active users

- the need for a high speed of file transfer, and this is very difficult to achieve in a distributed network around the world, since the speed of the Internet connection in different places can vary significantly

- high reliability of information storage in Filecoin can only be guaranteed if there is an additional payment for placing several copies on various network nodes

Now the FIL native cryptocurrency is in the TOP-30 of the CoinMarketCap list with a market capitalization level of more than $7 billion, and for its conversion you can use various crypto trading platforms, including Gemini, Binance, Kraken, Gate.io, Phemex, Bittrex, Crypto.com, PancakeSwap, LBank, WazirX, Upbit, etc.

In conclusion, it is important to note that this platform has one of the best teams in the crypto market, but for now, most people from all over the world prefer to choose the reliability of large and proven cloud services.