What Is Filecoin (FIL)? Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime. https://coinmarketcap.com/currencies/filecoin/ I have heavy bags in this coin - as do many folks in red-fascist China!