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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Filecoin storage providers (SPs) contribute data storage capacity to the Filecoin network. To ensure files are stored reliably over time, SPs are required to pledge FIL as collateral.

https://t.co/Jh9vFpLtUt just launched the first repledging Protocol for these pledged FIL…