What is filecoin (FIL), should I buy it?

Filecoin has a symbol of FIL. It is a filesharing and storage blockcain cryptocurrency.

FIL or filecoin has 244,507 followers on coinmarketcap, ethereum has 2.4 million just for comparison.

It is available on blockchains of binancechain and HECO.

Filecoin is minable just like bitcoin.

Current circulation is 136,176,268.00 FIL, max supply is unknown.

Filecoin has 244,507 followers, ethereum has 2.4 million.

Filecoin is a decentralized data storage system.

You can buy Filecoin on binance, and huobi.

Why filecoin is different?

  • built-in incentivesfor storing and retrieving data
  • content-addressable linking data structures
  • drive prices for this storage down
  • Proof of Storage and Proof of Space
  • Proof of Replication proving system to verify that a storage miner actually contains the content

Technology: Excellent
Use case: Above average
Long term holding: Positive

Buy filecoin or not?

If you are more into utility coins that fulfill the actual purpose then you will like this as its adaption increase with the transition from web 2.0 to web 3.0 it’s going to make a significant impact as filecoin’s team keep rolling out necessary updates according to roadmap. Consider filecoin 5/100 of portfolio strategy.

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