Filecoin

Filecoin is a Layer 1 blockchain designed to create a decentralized market for digital storage, where anyone with spare hard-drive capacity can offer that space to people or organizations who need to store data. The project addresses the concentration of cloud storage among a small number of large corporations by allowing storage providers worldwide to compete on price and reliability. The native token, FIL, is the currency used to pay for and provide storage on this open market.

Storage providers on the Filecoin network lock up FIL as collateral and must repeatedly prove to the chain that they are still holding a client's data intact, a cryptographic process known as proof-of-spacetime. Clients pay in FIL for storage deals, and those payments flow to the providers who successfully maintain the data. The block time recorded in this profile is zero minutes, meaning our stored data does not include a specific block interval, but the network otherwise operates as its own independent Layer 1 chain.

Filecoin's fee stream comes from users paying to store and retrieve data on the network. Over the trailing 30 days the protocol recorded fees of 86,169 USD, and over the trailing 12 months fees totalled 2,363,710 USD, though fees over the most recent 30-day period fell 90.63 percent compared to the prior period. The take rate stands at 100 percent for the trailing 30 days, meaning that none of the fees recorded in this period were distributed to storage providers as supply-side revenue — supply-side revenue for that period is reported as zero. The annualized fee figure derived from the trailing 30 days is 1,048,389.50 USD, which is the basis for the fee-based valuation ratios shown elsewhere on this page.