What is FIL? Detailed introduction to the trading platform and total amount of FIL coins

Filecoin is a blockchain-based, decentralized file storage network that utilizes miners to provide verifiable proof of data storage and retrieval, incentivizing reliable service and data security.

Oct 19, 2024 at 07:00 pm

What is Filecoin (FIL)?

1. Overview

Filecoin is a decentralized file storage network that allows users to securely store and retrieve data on a global marketplace. It operates on a blockchain protocol, ensuring the integrity and security of data.

2. Key Features

Decentralized: Unlike centralized file storage services, Filecoin's network is distributed across thousands of independent nodes, eliminating single points of failure.
Secure: Data is encrypted and stored on multiple nodes, ensuring its availability and protection.
Proof-of-Storage and Proof-of-Retrieval: Miners provide verifiable proof that they are storing data and retrieving it as requested, incentivizing reliable service.
Reputation System: Participants on the network are ranked based on their reliability and performance, fostering trust and accountability.

3. Trading Platform

Filecoin's native token, FIL, is traded on major cryptocurrency exchanges, including Binance, Coinbase, and FTX. These platforms allow users to buy, sell, and hold FIL.

4. Total Amount of FIL Coins

The total supply of FIL is capped at 2 billion coins. As of March 2023, approximately 1.35 billion FIL have been issued.

5. Tokenomics

Initial Allocation: 16% to early contributors, 6% to the Filecoin Foundation, 5% to Protocol Labs
Mining: 70% of FIL is allocated to miners for providing storage and retrieval services
Vesting: FIL is released over time to early contributors and the Filecoin Foundation, ensuring a gradual distribution

6. Use Cases

Secure data storage and retrieval for enterprises and individuals
Decentralized cloud storage for applications and websites
Permanent data archiving for historical and research purposes
Data backup and disaster recovery solutions

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

BANANA

$16.2816

41.37%

Trade Now
GIGA

$0.0140

39.56%

Trade Now
XYO

$0.0119

29.67%

Trade Now
AKT

$1.4884

23.89%

Trade Now
SOS

$0.1622

21.98%

Trade Now
DAG

$0.0489

21.47%

Trade Now

Latest Crypto News

Bitcoin (BTC) and Ethereum (ETH) Show Strength Amid Market Volatility
2025-03-12 16:45:49
Bitcoin (BTC) price recently started a significant decline below the $85,00 level
2025-03-12 16:45:49
Amazon.com, Inc. (NasdaqGS:AMZN) Remains a Dominant Force in Global E-commerce and Cloud Computing
2025-03-12 16:45:49
US Inflation Expectations for February
2025-03-12 16:45:49
Remittix's PayFi solution captures attention with its $13.8m presale and growing investor interest
2025-03-12 16:45:49
MOBOX Will Launch Season 12 on March 12
2025-03-12 16:45:49

Related knowledge

Is there a limit on the holding time of SOL in leveraged trading?

Mar 12,2025 at 08:40am

Key Points:There's no inherent time limit on holding SOL in leveraged trading imposed by the cryptocurrency itself.Holding times are dictated by the leveraged trading platform's terms and conditions, and risk management strategies.Liquidity requirements, funding rates, and margin calls significantly influence how long one can realistically hold a levera...

How to set stop profit and stop loss in SOL leveraged trading?

Mar 12,2025 at 01:50pm

Key Points:Understanding Leverage and Risk in SOL Trading: Leverage amplifies both profits and losses. Proper stop-loss and take-profit orders are crucial for risk management.Setting Stop-Loss Orders: A stop-loss order automatically sells your SOL position when the price drops to a predetermined level, limiting potential losses. Placement depends on you...

How is the forced liquidation price of SOL in leveraged trading calculated?

Mar 12,2025 at 12:40pm

Key Points:Forced liquidation in leveraged SOL trading occurs when the trader's position experiences a significant loss, falling below the maintenance margin requirement.The forced liquidation price depends on several factors: the leverage used, the entry price, the initial margin, and the exchange's liquidation parameters. There's no single formula; it...

What are the risks of SOL leveraged trading?

Mar 12,2025 at 02:25am

Key Points:High liquidation risk due to SOL's volatility.Complexity of leveraged trading amplifies both profits and losses.Risk of cascading liquidations in volatile market conditions.Platform-specific risks including exchange hacks or malfunctions.Lack of understanding of leverage mechanics leads to significant losses.Regulatory uncertainty surrounding...

How to open SOL leveraged trading on the trading platform?

Mar 12,2025 at 10:26am

Key Points:Choosing a reputable cryptocurrency exchange that offers SOL leveraged trading.Understanding the risks associated with leveraged trading and margin calls.Navigating the platform's interface to access leveraged trading options for Solana (SOL).Setting up a margin account and understanding margin requirements.Placing a leveraged SOL trade and m...

SOL coin investment value analysis: Is it worth buying?

Mar 11,2025 at 03:20pm

Key Points:Solana's (SOL) value proposition rests on its high transaction throughput and low fees, aiming to compete with established networks like Ethereum. However, network outages and controversies have impacted its reputation and price.Investment decisions should consider SOL's technological advancements, adoption rate by decentralized applications ...