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

Filecoin Tokenomics: Understanding an Advancing Economy

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The Filecoin token (FIL) serves many functions:
1️⃣ Pays for messages on-chain.
2️⃣ Collateral to create economic incentives for reliable data storage over time.
3️⃣ Burned to regulate shared resources (blockspace).

How FIL facilitates the on-chain economy:

https://medium.com/tldrfilecoin/filecoin-tokenomics-understanding-an-advancing-economy-ef319632ffa8 

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The Filecoin token (FIL) serves many functions:. Pays for messages on-chain.

Obsessed with Knowledge, Science, and Technology -- Protocol Labs, IPFS, Filecoin -- https://t.co/sjnqEktn6p

Juan Benet (@juanbenet) / Twitter

"We already have the world's largest decentralized storage network" - 
@juanbenet, founder of @ProtocolLabs, at the Hong Kong Web3 Festival '23 earlier today.

Watch the MainStage recording now! 

https://ipfs.io/ipfs/QmZm6kpFzP2Z4PTh3gujKErvHfKYqayzqnDu2oLwBkg6B5/2023-04-13-wanxiang-filecoin-juan.mp4

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"We already have the world's largest decentralized storage network" -.

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