Filecoin
by Protocol Labs
Ethereum
Solana
Quick Fact
Launched in 2020, Filecoin has become one of the largest decentralized storage networks, offering over 25 exbibytes (EiB) of storage capacity. It utilizes a unique combination of Proof-of-Replication and Proof-of-Spacetime consensus mechanisms to ensure data integrity and availability.
Filecoin is a decentralized storage network designed to store humanity’s most important information in a secure, efficient, and censorship-resistant way. It empowers individuals and organizations to rent out unused storage space, creating an open marketplace for data infrastructure that supports the growth of Web3, DePIN, and digital sovereignty.
Filecoin is a flagship example of a DePIN protocol—harnessing globally distributed physical infrastructure (storage hardware) and incentivizing its use through blockchain coordination.
Developed by Protocol Labs, Governed by the Community
Filecoin was developed by Protocol Labs, the same team behind IPFS (InterPlanetary File System), and is now governed by the Filecoin Foundation—an independent nonprofit supporting network development, ecosystem growth, and long-term mission alignment. The foundation promotes open governance, interoperability, and ethical data stewardship across the decentralized web.
How Filecoin Works
Filecoin transforms traditional cloud storage into a decentralized network by matching users who need data storage with providers who offer it. Instead of relying on centralized data centers, Filecoin uses a market-driven model:
Storage Providers compete for business by offering capacity at variable prices
Clients upload data and pay with $FIL, the network’s native token
Smart contracts and cryptographic proofs ensure files are stored correctly over time
The system uses two novel consensus mechanisms:
Proof-of-Replication (PoRep) – Verifies data is uniquely stored
Proof-of-Spacetime (PoSt) – Verifies data is continuously stored over time
These mechanisms make Filecoin highly secure, transparent, and auditable without centralized oversight.
Why Filecoin Matters for DePIN
As demand for decentralized infrastructure surges, Filecoin provides the foundational layer for decentralized, verifiable data storage. It's critical to DePIN because it replaces centralized data silos with a permissionless network—where anyone with spare capacity can contribute, and anyone can store data securely.
Whether you're hosting Web3 applications, scientific research datasets, or archival media, Filecoin ensures that data remains accessible, secure, and truly decentralized.