Filecoin is a blockchain platform focused on decentralized data storage with built—in economic incentives for users. It is one of the main infrastructure projects of the Web 3 direction. The security and verification of data stored in the Filecoin network is provided by two consensus algorithms at once: Proof of Spacetime (PoSt) and Proof Of Replication (PoRep). Miners on the Filecoin network are responsible for storing and providing data.

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At #LabWeek23 @momack28 shares the tremendous growth of FIL Total Value Locked (TVL) since the launch of the Filecoin Virtual Machine (FVM) in March. We're already ranked in the top 25 chains on DefiLlama! ⚡️

(Thanks for the pic @tweetclarita!)

🖥X: https://x.com/FilecoinTLDR/status/1724829321208922267?s=20