Fungible
Filecoin
A decentralized storage network design to store humanity's most important information. An open-source cloud storage marketplace, protocol, and incentive layer. Filecoin is a peer-to-peer network that allows anyone to store and retrieve data on the internet. Built-in economic incentives ensure that files are stored and retrieved reliably and continuously for however long a user specifies.
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Led by ConsenSys and Allinfra, the collective includes a still growing list of 19+ prominent tech companies, as well as civil society leaders: AAVE, Art Blocks, Celo, the Climate Collective, Codegreen.Org, Enterprise Ethereum Alliance, ERM, Filecoin Green, Gitcoin, Global Blockchain Business Council (GBBC), Huobi Global, Laser Digital, Microsoft, Polygon, UPC Capital Ventures, and W3bcloud, in collaboration with Gold Standard.
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In 2017, Protocol Labs raised $205 million to build out a network of personal computers that agreed to share their unused computing power in exchange for the filecoin cryptocurrency, in what was at the time part of a record initial coin offering (ICO).
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Filecoin token FIL rose sharply on Friday, according to data from CoinMarketCap. The jump fueled social media excitement about the blockchain’s March launch of its Filecoin Virtual Machine (FVM), a software platform that will introduce smart contracts and enable developers to design decentralized applications on the Filecoin network.
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The crypto market has an intrinsic characteristic of being volatile. Therefore, all projects, be they new entrants or long-standing cryptocurrencies, always take calculative steps. Recent developmental activities undertaken by Filecoin (FIL) and Siacoin (SC) are examples of such calculative steps.
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