Filecoin Review 2020: Top Launch To Watch!

BTC Tipjar 🙏🏻: 35YDYtYAB999JxiXQXewzLvMGX4ki2d3WL

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⏰ Time Stamps ⏰

1:15 Introduction
2:40 IPFS
5:13 Filecoin Blockchain
7:12 How Filecoin Works
9:07 Filecoin Token Overview
10:46 Team & Partners
11:24 Development & Roadmap
12:20 Filecoin Markets
13:00 Conclusion

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⛓️ 🔗 Helpful Links 🔗 ⛓️

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📱️ Socials 📱

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📝 Project Overview 📝

Filecoin is a project that is building a decentralised storage network on a blockchain. Essentially, they want to develop a distributed file storage protocol that is immutable, secure and transparent.

This network will allow users to buy storage directly from those who are providing it and pay for it with Filecoin's native token. Conversely, it also wants to give storage providers the opportunity to earn additional income from unused storage space.

⚙️ Technology ⚙️

Filecoin is built on top of IPFS. IPFS is an open source Peer-to-Peer filesharing system that was initially released back in 2015.

With the IPFS, instead of having all the data stored on a singular server, user-operators on the network will hold a portion of all the data. Distributed hash tables or DHTs will spread the data across this network of computers.

The Filecoin blockchain takes IPFS and builds a storage marketplace on top of it. Here, you have users and you have miners.

Those miners who provide more storage and are able to provide the content to clients the quickest, get more mining rewards - essentially an incentive mechanism to minimize latency and maximise bandwidth.

When it comes to consensus, Filecoin uses a unique method called (QUOTE) Proof-of-Replication. This consensus method verifies that every copy of the file is stored independently.

💰️ Token 💰

Filecoin is the native cryptocurrency on the Filecoin network and it is used as a utility token for paying for storage, retrieval and transactions.

There will be a maximum supply of 2 billion Filecoin. That will be released according to a similar schedule as Bitcoin

Filecoin had a massive ICO in 2017 that saw them bring in a total of $205 million. This is even more impressive when you consider that they had taken in $52 million which was on top of $52 million they raised from accredited investors.

These tokens were sold in a SAFT sale which is a Soft Agreement for Future Tokens.

When the tokens are minted, 30% of this will be allocated to the Genesis block whereas the remaining 70% of it will be left as mining rewards.

👨‍💻️ Team, Partners & Development 👨‍💻

The company behind Filecoin are Protocol labs which is the same company that developed the IPFS.

The founder of Protocol labs is Juan Bennet. He studied computer science at Stanford and founded Protocol labs back in 2014.

The project has raised funding from the likes of Union Square Ventures and Andreesen Horowitz.

For development, there has been a great deal of activity which can be verified in their GitHub repositories. The Testnet was just launched and they are looking to a mainnet launch in March of 2020.

📈 Trading & Wallets 📈

The token has not been minted yet so it is not trading. You can buy futures on the open market although these are at less reputable exchanges.

When listed it is likely to get broad support given the potential demand.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Filecoin #FIL #crypto #IPFS #Review #Storage #Fintech #Testnet #blockchain #ICO #trading #cryptocurrency #siacoin #storj

[NandishPatelV]

Keen about this project! KeepSmiling 😊🌺

[bellyomful]

Early investor in this project. Got potential

[leontan]

can you please make a video on STORJ please

[ryanwdavies]

Content is super thankyou do you plan to cover Coda protocol?

[anxiouscurious]

Guy are there other Ipfs projects with prospect?

[antonwinter]

im a dev just dipping my toes into ipfs. this is a huge disruptor. They need to make it commercially viable via filecoin, my fingers are crossed for the lads :)

[carloschu]

We need a Filecoin vs Ontology vs Arwaeve comparison.

[KLER]

this already exists.... its called siacoin

[TheNorville]

Another great video.What sort of hard disk space would a node require?.

[invisiblian]

for amazon S3 bucket, your data is back uped in three data centers across the globe. and the price of the storage is very reasonable. the only niche for filecoin might be censored data?

[anthonyrude]

Is there a way to get this token before the exchanges start to offer it?

[itsgin]

Where can I get some $FIL? It seems like it's not on any spot market.

[westsidecater]

Why is it taking forever for this thing to come out?

[shayo]

I totally forgot about this. They've been making moves as of recent with mimblewimble, ithink . Are you still in this?

[BK]

Perfect review as always ! I think that for such project to succeed need a good partnership with big data producers like social media or video sharing platform and I really sceptic about the speed the block chain can provide for such use cases...

[withoutwroeirs]

For the moment, I consider Sia obtaining the network effects sooner. Indeed Sia seems to offer increased redundancy through node dispersal across different continents whilst maintaining file obfuscation through a combination of end-to-end encryption and file fragmentation. Unlike Filecoin, Sia never had an an ICO, so there is no incentive from developers to get investors a good return on the money they've lost since the ICO bubble burst. 1000x group talks about this plenty, projects that have funds collected at ICO which now overshadow their market capital drives the company incentive away from technology development to 'what the hell do we do with all this money?'. Study ICO inversion across the various blockchain projects, it is remarkably insightful in identifying those projects to stay away from.

[chiquioj]

What do you think of $SOL on #MXC_Exchange? I am planning to buy more I think it will hit $2 soon! There is a news coming, fill your bags guys!!🙈🙈🙈

[skfpv]

I wonder how many people are going to end up going to prison because of the stuff that is stored on their hard drives

[NoelSefton]

No 1. Siacoin already does this, paying and getting paid for storage, how is this different, so not exactly game changer. And B. Who uses file storage in the way you describe? If I need a file stored I'm not asking you to "hold this a while", it's a perpetual thing.

Please delete and repost this comment when you finished reading it... because apparently that's the way things work nowadays :-D

Source: coder in industry for 12 years.

[krisu]

So much money raised and such a shitty exchanges? What the hell