Filecoin (FIL): A Beginner’s Guide to the Token, Technology, and How It Worksby@bybit

Filecoin (FIL): A Beginner’s Guide to the Token, Technology, and How It Works

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Filecoin is a global decentralized storage system that brings benefits for all participating computer operators. With Filecoin, all the data is stored on a peer-to-peer blockchain. Miners dedicate their computing power and receive payment for ensuring storage space for users. Users, on the other hand, can retrieve, distribute or store the data by paying miners a fee. The value of the underlying cryptocurrency, FIL, is likely to increase as the number of transactions requiring that digital currency will grow. The total amount of FIL that will ever be generated is limited to 2 billion tokens.

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