Filecoin is a decentralized storage network designed to facilitate a more efficient and secure way to store and retrieve data.
It leverages blockchain technology to create a marketplace where users can buy and sell storage space using the Filecoin cryptocurrency.
By incentivizing participants to contribute their unused storage space, Filecoin aims to create a more robust and resilient storage infrastructure while providing economic incentives for network participants.
With its decentralized architecture, Filecoin offers greater data security, redundancy, and accessibility compared to traditional centralized storage solutions.
