Filecoin is a decentralized storage and distribution network. It connects customers and data storage providers from around the world to aim to achieve an efficient and robust marketplace for data storage needs. There are two verifiable markets: the Storage Market and the Retrieval Market. The Storage Market allows clients to pay storage miners to store data. The Retrieval Market allows clients to retrieve data by paying retrieval miners to deliver the data.
What is FIL?
FIL is the native token of Filecoin. FIL is used both as a medium of exchange and as collateral on the Filecoin network. It can be earned by miners when they provide storage to clients. It is the main component of Filecoin’s economic incentive system and community participation. FIL has a maximum supply cap of 2 billion tokens.