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Introduction to Filecoin

Filecoin is a peer-to-peer network that stores files on the internet, with built-in economic incentives to ensure files are stored reliably over time. 

Filecoin and IPFS are complementary protocols for storing and sharing data in the decentralized web. Both are built by Protocol Labs. The InterPlanetary File System (IPFS) is a peer-to-peer (p2p) storage network, which seeks to connect all computing devices with the same system of files.

Filecoin launched mainnet on Oct, 2020. Filecoin (FIL), is the native token powering its network. Miners get rewards for storing data and mining new blocks. Learn more

 

Filecoin Wallet

A Filecoin wallet can help manage your FIL assets, including balance inquiry, transfer, etc. At the same time, you can interact with the decentralized applications built on Filecoin through the wallet.

🔸 Wallet

  • imToken on Mobile - Provide secure and trusted digital asset management services to millions of users 
  • Lotus Wallet - A web wallet for receive and transfer FIL 

🔸 Before creating a wallet, please learn how to backup your wallet

 

Filecoin Trading

You can get FIL in various ways. The easiest way is to buy. There are many cryptocurrency exchanges on the market that allow you to buy FIL, but users need to choose the preferred exchange according to location and payment method.

Before buying FIL, try to understand the purchase methods & risks here, so that you can complete the purchase process in a safer and quicker way.

🔸 Exchanges that support the purchase of FIL

  • Huobi
  • ...

 

Use

Filecoin Address Format

Filecoin has three address formats:  Common Address (start with f1), Miner Address (start with f0) and Miner Address (start with f3). 

🔸Secp256k1 Type Addresses :

f16tugakjlpyoomxy5uv2d6bdj7wcyr3ueofu7w7a

🔸 BLS Type Addresses (start with f0):

f01782

🔸 BLS Type Addresses:
f3sg22lqqjewwczqcs2cjr3zp6htctbovwugzzut2nkvb366wzn5tp2zkfvu5xrfqhreowiryxump7l5e6jaaq

 

Note:

imToken supports both addresses starting with f1 and f3. However, miners can only use BLS signatures, and the Filecoin community recommends the BLS algorithm, imToken will generate addresses starting with f1 by default.

From the perspective of the transfer function alone, there is no difference between the addresses at the beginning of f0 and f3, but the presentation forms are different, one long and one short.

In the transfer scenario, all three formats of receiving addresses are supported.

 

Filecoin Transaction

The miner fee mechanism of Filecoin is similar to Polkadot, that is, the tipping mechanism. 

Please make sure that your FIL wallet has sufficient assets and the balance is enough to cover the miner fees required for the transfer. 

🔸 Filecoin transactions tutorial:  

🔸You may encounter the following conditions: 

 

Filecoin Mining

Anyone can participate in Filecoin mining. Miners are in charge of storing, providing content and issuing new blocks. They earn different types of rewards by contributing to the network. There are two main types of rewards for their efforts: storage fees and block rewards.

 

Study

Filecoin Basic Information

Mainnet launch time: 2020.10.15

Consensus mechanism: 

Hybrid consensus mechanism; mainly based on expected consensus (EC), supplemented by Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt)

Total amount of FIL issued: 2,000,000,000

White paper: https://filecoin.io/filecoin.pdf

 

Filecoin Price 

 

Filecoin Block Explorer

Filecoin block explorer provides one-stop data services based on Filecoin, including various mining rankings, blockchain data queries, and visualization charts

 

Filecoin News