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About Filecoin
Filecoin is a decentralized storage network that allows users to rent out unused hard drive space and earn FIL tokens as rewards, while those needing storage can purchase space at market rates. The protocol uses cryptographic proofs to ensure that storage providers are reliably storing data as promised, creating a trustless and efficient alternative to centralized cloud storage services. What sets Filecoin apart is its use of proof-of-replication and proof-of-spacetime mechanisms to verify storage, combined with its focus on making data storage a commodity traded on a peer-to-peer basis.
