Source. Crypto info.com
What is Filecoin?
Filecoin is a decentralized storage system that aims to 'store humanity's most important information.' The project raised $205 million in an initial coin offering (ICO) in 2017.
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.